ProA Capital invests in Rotor

The deal value is reported to stand at €10m.

Rotor's co-founders and CEO will retain majority stakes in the company. ProA's investment will enable the company to expand into new markets and develop its product range. The deal is the GP's first in the bicycle sector and its seventh investment overall.

Portfolio companies include ambulance company Grupo Ambuibérica, which it acquired in March 2011. The GP, which is understood to be raising its second fund, closed its maiden vehicle on €250m in 2008, 10 months after it was launched.

Company
Founded in 1998 in Madrid, Rotor produces high-end bicycle components. The firm sells its products in 47 countries. Around 85% of its €14m turnover originates abroad.

The firm has developed its proprietary QRings, designed to increase pedalling efficiency via their elliptical (rather than round) shape. Carlos Sastre's 2008 Tour de France victory involved the firm's product.

People
Fernando Ortiz is a managing partner at ProA.

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• Topics
• Southern Europe
• Consumer
• Expansion
• Spain
• ProA Capital