Premium Italian bicycle brand Wilier Triestina has announced Pamoja Capital as a minority shareholder. Wilier Triestina, founded in 1906, will remain in the hands of the Gastadello family, but with the support of Pamoja Capital – a Swiss based Canadian-family business.
‘Wilier is focusing on increasing awareness and sales in the UK whilst also becoming a truly global bike brand.’
Currently, 3.5% of Wilier sales are from the UK. With the new partnership with Pamoja Capital, Wilier Triestina is aiming for a greater presence in the UK market alongside international growth in order to strengthen its brand in the high-end road, gravel and mountain bike segments.
With numerous awards won in the field of design and innovation (Eurobike Award 2017 and 2019, Design & Innovation award 2019 and nomination for the German Design Award 2020), the company adds that it is ‘excited to bring its cutting edge technology to a wider global market.’
Pamoja Capital is an investment company that manages the funds of the McCall MacBain Family and those of the McCall MacBain Foundation. It currently oversees over US$1 billion of assets. The returns generated are donated to the McCall MacBain Foundation.
The foundation provides substantial financial and working support for educational scholarships globally and is also active in funding environmental issues. The McCall MacBain Foundation was a co-founder of the European Climate Foundation.
Andrea Gastaldello, CEO of Wilier Triestina SpA said “Wilier Triestina is a family company with an international vision. After an evaluation period, we found in Pamoja Capital and the McCall MacBain Foundation the ideal partner to support us in becoming a global brand.”
Gastaldello continued “This solution allows our family to firmly maintain strategic and operational control of the company, as well as reinforcing our fundamental values and culture by associating with the McCall MacBain Foundation and its work on scholarships and climate change.
“Our products are appreciated all over the world, and now the time has come to further our growth in all the main international markets with the support of Pamoja Capital. With this capital, 2020 will be the beginning of a major growth initiative for the company.”
Beginning life in a small workshop in Bassano del Grappa (Italy) over a century ago, Wilier Triestina has asserted itself by offering up cutting-edge Italian-designed bikes. The brand is technical sponsor of the Astana World-Tour Pro Team. The new Wilier Zero SLR is billed as ‘the first-ever super-light road bike with disc brakes and fully integrated cables.’
The brand has also won global awards with the Cento 10 Hybrid – ‘the world’s lightest road e-bike, setting a new standard in endurance e-road bikes.’
John McCall MacBain, Founder of Pamoja Capital and Chair of the McCall MacBain Foundations said “As a family-owned company ourselves, we believe we have a thorough understanding of the challenges and opportunities of family-owned companies.
“As long-term shareholders, we expect to work with the company and encourage its expansion for decades to come without the need for any sale or other external capital in the future; so Wilier Triestina can grow internationally while remaining as a family business with all the benefits and care for the company’s customers and employees.”
He continued, “We are excited to collaborate with the Gastadello family owner-managers of Wilier Triestina to undertake this path of future growth together. We were very impressed by the visionary team of brothers Enrico, Michele and Andrea Gastaldello, who led Wilier Triestina to become a market leader.
“We are happy to be able to support the growth of the company in the coming years, both organically and through strategic acquisitions. We look forward to donating all the financial benefits of our ownership portion of Wilier Triestina to the McCall MacBain Foundation.”
