L Catterton buys bicycles manufacturer Pinarello

The deal sees the GP acquire a majority stake in the business, while the company's CEO, Fausto Pinarello, will retain a minority stake and continue to lead the business, according to a statement.

Following the transaction, the company aims to use the capital injection to expand internationally as well as boost its accessories and apparel business.

The GP has already invested in fitness related brands across Europe, including London-based women's sportswear brand Sweaty Betty in February 2015.

Company
Founded in 1949 and headquartered in Treviso, Pinarello manufactures road bicycles, including accessories and apparel, for both amateur and professional cyclists. The company claims to produce 30,000 bikes and frames annually and exports 90% of its production across 50 countries.

According to a statement, the company posted a turnover of €52m in 2016 and employs a staff of 50.

People
L Catterton – Andrea Ottaviano (managing partner).
Pinarello – Fausto Pinarello (CEO).

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