POZZOLEONE, Italy (BRAIN) — Selle Royal S.p.A., — which produces and markets saddles and accessories under the Selle Royal, Fizik, Crank Brothers, Brooks and PedalEd brands — has received a major investment from the Wisequity V Fund. The fund has acquired a one-third share in the company.
The Wisequity V Fund, managed by Milan's Wise Equity, is the same one that acquired Vittoria Group last July.
The pandemic has been good to the Selle Royal Group. The company said it expects to end its fiscal year next month with total revenues of more than 190 million euros ($230.6 million), a 50% increase over the prior year's revenue.
Barbara Bigolin, Selle Royal's Chairwoman, CEO, and reference shareholder said, "In Wise, we met and came to know the ideal partner to share our entrepreneurial project, respecting our traditions, and our enthusiasm to propel us forward together to tackle new challenges."
Paolo Gambarini, a partner at Wise Equity who led the investment, said, "Selle Royal is an absolute leader in the cycling sector and at the same time is experiencing a phase of significant growth and development. The investment in Selle Royal is consistent with the Fund's investment philosophy of partnering with leading companies in niche markets that demonstrate strong growth potential. We believe in the company's growth project and are confident that its commitment to research and technological innovation will translate into an increasingly rapid expansion of its product offerings, with quality products presenting a considerable competitive advantage."
Selle Royal was founded in 1956 by Riccardo Bigolin, who died in 2014. Prior to the Wise Equity investment, Selle Royal S.p.A.’s sole shareholder was a group called DEC 28, 1928 HOLDING S.p.A., whose shareholders are Barbara Bigolin, Lucia Bigolin, and Francesca Bigolin, the daughters of the founder.
