3T gains investor to support international growth and manufacturing

3T has gained a financial partner in UTurn Investments, an independent family office founded by Gianpiero Peron, Luca Mongodi and Alberto Nicoli.

The funds have been earmarked to support 3T in its international expansion vision, with the company remaining under the guidance of René Wiertz and Gérard Vroomen, but with the addition of Luca Mongodi of UTurn, who will also become involved in the operational and strategic management of the company.

The 3T brand, founded in 1961 with the production of bicycle components (handlebars, stems, seat posts, wheels and forks), has global appeal and operations in Italy, Taiwan and North America. René Wiertz and Gérard Vroomen came on board with 3T in 2007 and 2015, respectively, adding veteran bike industry experience to a brand that was already a popular finishing kit choice. René Wiertz later acquired the brand in 2017.

At present the business has a turnover of €20 million with an EBITDA of €5 million and since 2019 it has apparently grown its bike business by more than 300%.

“We are happy that after an intense process with many interested parties, we have struck deal with UTurn that will help continue 3T’s strong growth and keeps this iconic brand in Italian hands. UTurn shares our vision for 3T and with their capital and management support, we can continue the strong growth of our bike business, which has grown exponentially since 2019. Also, we will be able to accelerate the factory plans,” says Rene Wiertz, founder and CEO of 3T.

While in recent years the most important Italian bicycle brands have been acquired by foreign investors, UTurn’s participation ensures the brand remains solidly based in Italy. The business‘s new development path, in Italy and abroad, will unfold through “the consolidation and further development of its distribution and expanded industrial infrastructure,” according to a statement from the label.

The investment will also allow 3T to ramp up its Italian production of strategic and innovative products, such as the distinctive carbon frames “RaceMax Italia” which 3T has already been producing in Presezzo for a few years.

The co-founders of UTurn Investments said of the buy in: “This first acquisition of ours fully corresponds with the objectives and philosophy of UTurn Investments. 3T represents what we are looking for, a company that embodies the values of Italian know-how, Made in Italy products and great opportunities to achieve its potential all over the world. We enter 3T with patient capital, we do not opportunistically chase returns on immediate investment, but we aim to support the company on a solid growth path in Italy and abroad”.

Gerard Vroomen (pictured right), head of design at 3T concludes: “The past seven years have been incredible for 3T and we are looking forward to continuing our plans. UTurn joining will really help 3T establish itself further as one of the top brands in the bike industry.”