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SPAC is investing in Campagnolo. This strategic minority investment will support the brand’s next phase of development by accelerating innovation and strengthening its position in the high-end cycling sector. The Campagnolo family will retain control and a majority stake in the company.
Source: Press Release
Campagnolo, an Italian manufacturer of high-performance drivetrains and wheels for road and gravel bikes since 1933, announced today that SPAC (a company linked to its holdings in Pinarello and Q36.5), following the signing of an investment agreement with Campagnolo’s current partner, will acquire a minority stake in the company as part of a strategic investment. The transaction is expected to close within the next month and remains subject to the customary conditions precedent for this type of transaction.
This investment marks an important step in Campagnolo’s evolution. It will provide the company with additional resources and strategic expertise designed to accelerate its transformation and strengthen its position for the future.
The Campagnolo family will remain the majority shareholder and retain control of the company, thereby continuing a family entrepreneurial tradition that began more than 90 years ago, when Tullio Campagnolo founded the company in Vicenza in 1933.
A New Chapter for Campagnolo
The cycling industry is currently undergoing a profound transformation. Technology, electronics, and connectivity are playing an increasingly important role in product performance, while the expectations of cyclists, bicycle manufacturers, and business partners continue to evolve.
Campagnolo has been investing in this transition for several years. The launch of the wireless 12-speed Super Record in 2023 was followed by a complete overhaul of its groupset architecture, with the 13-speed Super Record in 2025, and then the new Record in 2026.
The partnership with SPAC will enable Campagnolo to accelerate this evolution and continue investing in areas that are strategic for its future.
The company will continue to strengthen its technological capabilities and product development expertise, while building a more agile and performance-oriented organization. It also aims to deepen its relationships with leading global bicycle manufacturers and commercial partners, continue modernizing its operations, and invest in the development of the Campagnolo and Fulcrum brands.
At the same time, Campagnolo intends to strengthen its ties to elite cycling and professional competition, which have always been central to the brand’s identity, innovation, and credibility.
The ambition is clear: to combine Campagnolo’s extraordinary legacy of Italian engineering with the technologies, performance, and capabilities needed to play a major role in the next generation of high-end cycling.
Campagnolo remains fully committed to its two core businesses—drivetrains and wheels—and will continue to develop high-performance products under the Campagnolo and Fulcrum brands.
Independence and Continuity of Partnerships
Campagnolo will continue to operate completely independently from SPAC’s other investments in the cycling industry, including Pinarello.
Relationships with bicycle manufacturers and business partners will continue to be managed independently, with the goal of building strong, long-term partnerships.
Looking Ahead
For over 90 years, Campagnolo has embodied innovation, engineering excellence, Italian design, and some of the greatest successes in cycling history.
This partnership will enable the company to build on these strengths and carry them forward into the future.
With the Campagnolo family’s renewed commitment and SPAC’s support as a minority shareholder, Campagnolo is opening a new chapter in its history, with greater resources, a clearly defined direction, and a renewed ambition to compete at the highest level of global cycling.
The goal is simple: to make Campagnolo stronger, more innovative, and more competitive, while remaining true to what has defined the brand’s unique identity since 1933.
What They Said
The Campagnolo family:
“We are delighted and proud to embark on this partnership with SPAC, a strong and experienced partner that shares our vision for Campagnolo’s future. Their investment gives us additional strength to accelerate the company’s growth, while preserving the values, engineering culture, and Italian identity that have always defined us. Our family remains firmly committed to Campagnolo’s future and approaches this new chapter in our history with great confidence.”
SPAC SA:
“Campagnolo is one of the great names in cycling, with an engineering legacy and a track record of victories that few companies, in any sector, can match. We were impressed by the quality of the company and the clarity of the transformation plan put in place by the Campagnolo family and its management. We are pleased to support them as a minority partner and are convinced that this transaction marks the beginning of an important new chapter for the brand.”
Matteo Cassina, member of the board of directors of Campagnolo S.r.l.:
“Campagnolo has exceptional products, unique engineering expertise, and an extraordinary brand legacy. Our priority now is to transform these strengths into an even stronger company: one that is more innovative, more agile, closer to its customers and partners, and increasingly competitive at the highest level of cycling. This investment provides us with additional resources and stability to accelerate this evolution.”
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