Athena Group buys fast growing Italian distributor Innteck
The Italian Athena Group has announced the acquisition of a fellow Italian based multinational powersports industry business - distributor Innteck.
Athena marked its 50th anniversary in 2023 and described the integration of Innteck to its diverse portfolio of business operations as "a new beginning after 50 years of history".
Athena SpA will hold 100% of the shares of Innteck Srl and of its overseas branch Innteck Corp., an American distributor based in Boise, Idaho.
Founded in 2004, Innteck has, over the years, "created an ever-expanding international partnership network with [some of] the most important and famous brands in the world of spare parts and accessories - such as SKF, Motorex and many others".
Michele Mancassola, General Manager of Athena Sportech, commented that "Innteck Srl and Corp. are perfectly autonomous and well-structured companies with highly competent and experienced staff in the world of two-wheelers. Both companies will continue to operate from their current logistics locations.
“The partnership between Innteck and Athena is a crucial event in our 50-year history. We will clearly separate our production activities from the distribution side of the businesses with the intention of strengthening Athena SpA's identity as a manufacturer of industrial components and technical articles for motorbikes.
"This differentiation will also enable us to structure a distribution strategy that will allow us, in the medium term, to be increasingly autonomous in the sales chain of the items we produce while protecting the interest of our brands."
Athena says that the acquisition of Innteck has also enabled Athena SpA to consolidate and extend its distribution force in Southern Europe and the USA "thanks to a solid sales network and an increasingly broad and vertical product portfolio in the motorbike and off-road bike sectors.
"The key principles that have characterised the distribution success of both companies will also be maintained: establishing robust collaborations with their suppliers and providing a high level of sales and marketing services".
The strategic plan to divide distribution to dealers in the world of two-wheel motorbikes and bicycles from production will be completed in 2024 with the inclusion of the Sportech division into Innteck - "thus creating the most important Italian distribution entity in the world of two-wheel motorcycles".
Founded in Lonigo (Vicenza) in 1973, today Athena is an international group with ten plants in Italy and worldwide. The company has four main areas of activity - industrial design and development of one-to-one technical solutions for products and industrial processes; development of "innovative mechanical and electronic solutions for the motor industry"; producing and distributing a range of technical spare parts for the car and motorcycle sectors, and its 'Sportech' division, which distributes "brands with a strong innovative content and appeal which satisfy consumers’ passion for sports, technology and leisure".
