Italian Investment Group-UTurn Took Stake in 3T

Recently, the Italian investment group UTurn announced that it has invested in 3T. After the acquisition, René Wiertz and Gérard Vroomen will continue to serve as shareholders and managers of 3T to guide the company's development. UTurn's Luca Mongoldi will also be involved in the operational and strategic management of the company.

UTurn is a family business founded in 2021 by Gianpiero Peron, Luca Mongodi and Alberto Nicoli. UTurn's investment in 3T is to support the continued growth of the iconic Italian bicycle company, which currently has annual sales of 20 million euros.

Founded in 1961, 3T mainly produces high-end road bikes, but also produces bicycle components (handlebars, seatposts, wheels and forks), and has offices in Italy and North America. Since 2019, its bicycle business increased by more than 300%. In recent years, some Italian bicycle brands have been acquired by foreign investors, so UTurn wants to keep its own national brand 3T in Italy.

Over the years, 3T has built up a significant market share in the gravel bike segment, perfecting partnerships with established brands such as BMW and, more recently, launching a joint road bike with Lamborghini.

The co-founder of UTurn said: "3T is the partner we want. This is a company that can embody the spirit of Italy. We will not be opportunistic in pursuit of immediate returns. Our goal is to support the company's steady growth in Italy and the world. growth path.

3T Founder and CEO René Weltz "We are delighted to have reached an agreement with UTurn to keep the brand in Italy, which will help 3T continue to grow. With the capital and management support of UTurn, we can With continued strong growth in the bicycle business, we will be able to accelerate our factory program."