PIERER Mobility: Early takeover of majority stake in MV Agusta
PIERER Mobility AG, parent company of KTM, Husqvarna and GasGas, has increased its ownership stake in MV Agusta to give the Austrian company a 50.1% majority ownership stake in the Schiranna (Varese), Italy based manufacturer.
This represents an early increase of the first stage 25.1% investment that Pierer AG made in MV in November 2022. At that stage, it had been planned that PIERER Mobility subsidiary KTM AG would likely take a majority position in early 2026.
That call option was to be based on the annual MV Agusta Motor S.p.A. financial statements as of December 31, 2025. However, that option has now been exercised prematurely, at a purchase price for the additional 25% equity based on the MV Agusta results to the end of 2025, based on the agreed EBITDA multiple valuation method.
Meantime, PIERER Mobility had taken over the supply chain and purchasing of MV Agusta in October 2023. In addition, MV Agusta's product range also became distributed, in part, through PIERER Mobility's global sales network.
The premature exercise of the call option means that KTM AG/PIERER Mobility AG will take over the majority ownership and industrial management of MV Agusta Motor S.p.A. immediately instead. In the medium term, an annual production volume of more than 10,000 MV Agusta premium motorcycles is planned at the site in Varese.
Hubert Trunkenpolz, member of the executive board of PIERER Mobility AG, is taking over the role of CEO and Chairman of the Board of directors from Timur Sardarov, who will continue to be available to the company as Vice Chairman, brand ambassador and consultant.
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| Production at MV Agusta's facility at Schiranna, Varese, is planned to increase to 10,000 units a year "in the medium term". |
Timur Sardarov announced the news as the "successful completion of the five-year plan to revitalise" MV Agusta. The company stated that "his objective to bolster the historic Italian brand was completely fulfilled, resulting in stability and substantial advancement for the 'Made in Italy' icon.
"During this period, measures have been taken to steady the company financially and substantial improvements were made to both processes and products, while also ensuring job security in Varese".
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| Timur Sardarov is to remain involved with MV Agusta as Vice Chairman, brand ambassador and consultant. |
The company statement went on to say that "the focus on quality and reliability has resulted in the consolidation of MV Agusta's reputation and credibility among a growing global customer base. As a result, the company is now on track to achieve net profit for the first time in many years. In 2023 alone, MV Agusta introduced five new models, and all limited series were sold out within hours of their launch. Additionally, a new dealer network was established, further reinforcing the brand identity.
"With this move, the Austrian group reaffirms its interest and commitment to the MV Agusta brand, considering the strong results achieved in recent years under the guidance of the Sardarov family, who will maintain joint control and a 49.9% stake in the company".
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| A PIERER Mobility AG executive board member, Hubert Trunkenpolz will take over as CEO and Chairman of the Board at MV Agusta. |
Sardarov went on to state that "MV Agusta embodies passion and a unique sense of romance that captivated me, a seasoned entrepreneur, from day one. The personal challenge of guiding the company out of crisis and steering it towards success through innovative business strategies, team expansion and new product developments has been conquered. It is an honour to play a role in shaping MV Agusta's legacy.
"Over the past five years, both the company and I have evolved significantly. Our growth together is a testament to the transformative journey we've shared. My time with MV Agusta has been a pivotal chapter in my life, filled with mutual joys and challenges. As I continue to serve as a dedicated Vice Chairman, I am committed to supporting the company and its ongoing success.”
