SCICON has announced a benefit from capital investment to continue to develop and promote innovative bike travel products.
SCICON is a brand of ASG International, a joint venture of Heinrich Dannhauser and Massimo Fantin, and the ASG Group’s European subsidiary.
Following the recent announcement of the ASG Group, which has attracted a strategic and significant investment from specialized capital investment firm South African Enterprise Development Proprietary Limited (SAED), SCICON has announced that it will benefit from the infusion of capital in the group of companies, with greater support to fund the aggressive growth strategy for the SCICON brand.
A first result of the capital investment will soon take shape with the opening of a new 4,000 square meter office and manufacturing facility in North Italy, to cater for SCICON as well as its sister brand Ftech custom cycling clothing.
“With the arrival of SAED, ASG intends to capitalize on the group’s strong position in South Africa and to accelerate international expansion and growth through a newly established European headquarter in Italy, in a sector that provides exceptional growth opportunities,” says Heinrich Dannhauser, ASG Group founder and ASG International CEO.
ASG International co-founder and CEO Massimo Fantin adds, “We are pleased to welcome SAED, a highly reputable financial partner, with whom we share a common vision to grow our brands. ASG International benefits from the infusion through SAED in the group and enables our division to further invest in infrastructure, human resources, R&D and marketing. We will continue to develop innovative products and boost the promotion of our leading brand and products.”
Louis Geeringh, a partner at SAED, says “We are especially attracted by the Italian based branch of the ASG Group and have built a strong relationship with the management team at ASG International over the past months. We are excited to be part of the development of two strong Italian brands and to support the global footprint of the ASG Group.”
To support the growth strategy of the SCICON brand, ASG International is recruiting and has opened up 10+ vacancies and will soon announce specific marketing activities to support the brand’s growth strategy.
