The Wise Equity V Fund and Selle Royal S.p.A. have announced the signing of an agreement for the purchase of 33% of Selle Royal’s share capital by Wise Equity.
Selle Royal is a global leader in the production and marketing of branded saddles and accessories for cyclists, with production and distribution sites in Italy, England, the United States, Brazil, China and Taiwan.
The company expects to close its fiscal year ended 30 June 2021 with consolidated revenues of over Euro 190 million – a growth rate of 50% compared to the previous year.
Barbara Bigolin, Selle Royal’s Chairwoman and CEO 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.”
The investment transaction was led by Paolo Gambarini, Partner at Wise Equity, and by the investment managers Bruno Barago and Paolo Zucchi.
Paolo Gambarini 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.”