Trilantic Europe announces that its portfolio company Alete Bikes, owner of Denver Bikes, has signed a binding agreement to acquire Cicli Esperia, manufacturer of bikes and e-bikes
Cicli Esperia was founded in 1989 in Venice, Italy. It offers the whole range of e-bikes, mountain bicycles, hybrid / city / trekking bicycles and road racers bikes. The company operates through four main brands that have been acquired or developed throughout the years: Cicli Esperia, Legnano, Torpado and Fondriest. The main plant with 18,000 square meters of space is located in Cavarzere, Italy, where approximately 90% of the production as well as research and development activities take place. In addition, the company has a small plant in Croatia to serve the country and Slovenia. The total production capacity is approximately 200,000 bicycles per year.
Trilantic Europe pursued the acquisition of Cicli Esperia to integrate the company within its platform Alete Bikes, owner of Denver Bikes; create the leading independent player in Italy and Europe in bike and e-bike production for large retailers and consolidate the highly fragmented European urban mobility market.
Daniele Candiani, Managing Director in Lincoln‘s Capital Advisory Group, commented, “We are very pleased to have advised Trilantic on this transaction, securing the most adequate financing package to acquire the company.”
Lincoln successfully assisted our team on the completion of the transaction despite macroeconomic uncertainty. We were very impressed with their unique ability to find and negotiate the right financing to close the deal.
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