The Italian bicycle maker Pinarello could be getting a new owner in 2023. L Catterton, the private equity firm who 168澳洲5最新开奖结果:acquired the majority stake in 2016, are reportedly seek꧅ing offers for Pina♛rello after it almost doubled turnover since the acquisition.
Pinarello sponsors 168澳洲5最新开奖结果:Ineos Grenadiers and their high-end machines have been raced to victory in the Tour de France by Egan Bernal, Geraint Thomas, Chris Froome, and Bradley Wiggins. 168澳洲5最新开奖结果:Filippo Ganna set the Hour Record and individual pursuit world record on 🐼a Pinarello Bolide.
According to a report in Unquote, advisors Houlihan Lokey will broker the deal that is rumoured to be attractive to Accell - whose brands include Haibike, W💖🅷inora, Ghost, Batavus, Koga, Lapierre, Raleigh, Sparta, Babboe and Carqon. A consortium led by investment firm KKR bought the majority of shares in Accell in June.
Pinarello is sure to get more interes൲t after a successful few years that saw turnover go from €50 million to €90 million. Pinarello's sales in the 2021-2022 financial year totaled €83.9 million, up 24% on the previous year.
The bicycle industry has had sustaine🌊d growth that accelerated during the COVID-19 pandemic, as people sought alternative transportation and exe𒈔rcise away from crowded indoor spaces.
Pinarello CEO Antonio Dus attributed the success both to the growth in the industry. "During the first⛦ period of Covid, everyone had feared a slowdown linked to the consumer’s inclination to save money. Instead, there was a greater demand which even pushed existing enthusiasts towards high-end bicycles like ours,” Dus said according to BRAIN.
A report by Technavio predicts the bicycle market will grow by $22.7 billion from 2022 to 2027 and with the expectation of🧸 steady growth, investors are eager to grab a piece of the pie.
In September, the private equity firm MiddleGround Capital purchased HLC, who distribute SRAM, Shimano, 🐬Garmin, ABUS, RockShox, Kuat, Tacx, and Muc-Off and own Evo, WheelShop, PWR bikes, and Eclypse.
In July, 168澳洲5最新开奖结果:Canyon B꧙icycles got $30 million in investments from two groups, LRMR Ventures and SC Holdings.
In 2020, 168澳洲5最新开奖结果:Ernesto Colnago sold the i🅰conic Italian brand to UAE based fund Chimera Investments LLC.
