APG has entered into a venture debt agreement of up to $4 million with Fabbrica Italiana Telai S.R.L., aiming to support its expansion in the luxury bicycle market.
Target Information
Fabbrica Italiana Telai S.R.L. (FIT), a subsidiary of Exept, specializes in the production of luxury bicycles dedicated to wholesale distribution. Their product range includes mountain and road bicycles, offered in both traditional and electric models. Utilizing Exept’s distinctive brand and proprietary patents, FIT aims to market a highly innovative drive solution, putting forth models that are anticipated to be the lightest aero-road electric bicycles available on the market.
In a significant move to expand its operations, FIT has entered into an agreement with APG, a global investment banking firm, to access a venture debt facility of up to $4 million. This facility will enable FIT to draw funds in the upcoming 24 months, aiming to finance its expansion initiatives. The funding is intended to complement a recently closed equity round from its existing shareholders.
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Industry Overview in Italy
The bicycle industry in Italy has seen substantial growth in recent years, primarily driven by a heightened awareness of environmental sustainability, increasing urbanization, and a cultural shift towards healthier lifestyle choices. The advent of technology
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APG
invested in
Fabbrica Italiana Telai S.R.L
in
in a Venture Debt deal
Disclosed details
Transaction Size: $4M