Wilier Triestina has announced a new shareholder, Pamoja Capital, to support the brand with UK and international growth.
The Italian company, founded in 1906, will remain in the hands of the Gastadello family. Currently, 3.5% of Wilier sales are from the UK.
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.
“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.”
Pamoja Capital is an investment company that manages the funds of the McCall MacBain Family and those of the McCall MacBain Foundation and currently oversees over $1 billion of assets. The returns generated are donated to the McCall MacBain Foundation, which provides financial and working support for educational scholarships globally and is also active in funding climate change and environmental issues. The McCall MacBain Foundation was a co-founder of the European Climate Foundation.
John McCall MacBain, founder of Pamoja Capital and chair of the McCall MacBain Foundations, added: “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.
“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.”
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