SIDI - Dino Signori sells to Italmobiliare
Founded in 1960 by its current president Dino Signori (SIgnori DIno!), the era of the internationally famous Italian footwear specialist SIDI's independence is over - with Italian investor Italmobiliare taking over 100% ownership of SIDI in a deal that closed in October 2022.
Founded in 1946, Italmobiliare Investment Holding S.p.A. is a leading Milan stock exchange listed (effective 1980) investment holding company controlled by Efiparind (the Pesenti family) of Clessidra Private Equity fame. It is a company that owns and manages a "diversified portfolio of equity and other investments with a strategic vision based on a financial and industrial history that goes back more than 150 years".
Based in Maser (Treviso), in the heart of the Montebelluna sports footwear industrial district, SIDI employs over 250 people and distributes its products in over 60 countries around the world. The company, which posted € 38m of revenue and € 7m of EBITDA in 2021, has been taken over by Italmobiliare based on an enterprise value of € 66m plus € 20m in net cash held by the company. The overall outlay of € 86m consists of a net payment by Italmobiliare of € 53.5m, with the rest of the funds (€ 32.5m) borrowed from Banco BPM.
SIDI shoes and boots have trodden the podiums of all the major international sporting events. From Joel Robert through Giacomo Agostini, Stefan Everts, Loris Capirossi, up to nine-time world champion Tony Cairoli, SIDI has written itself into an indelible place in the history of motorcycling.
The cycling champions of the SIDI team include the Italian legends Francesco Moser and Paolo Bettini, the Tokyo 2020 Olympic gold medalist Richard Carapaz and Pauline Ferrand-Prévot, who entered history as the winner of the first edition of the Women's Gravel World Championship in 2022 with four gold medals in four different specialities.
In a press conference on the SIDI booth at EICMA, Italmobiliare CEO Carlo Pesenti introduced Davide Rossetti as the newly appointed CEO of SIDI. Rossetti has over 25 years of experience in the world of sporting goods in situations of multinational excellence in Italy and abroad, both at wholesale and retail level, including Safilo Group (sport division), 55DSL by Diesel, Cisalfa Sport, Alpinestars and most recently Northwave, a company of technical sports footwear for bikes and snowboards.
Also joining the board is Davide Cassani, former professional cyclist and manager of the Italian national cycling team, who led them to victory in two-time trial world championships and four European road championships. "The world of two wheels in Italy needs investment, competence and passion," says Cassani, "I am thrilled to find these three elements within Italmobiliare's top management and to be part of this new development challenge for SIDI."
