Information on the target
Korus S.p.A. is a prominent player in the Italian motorsport industry, formed in 2017 through the merger of Tatuus and ATM-Autotecnica Motori. Officially rebranded as Korus in 2025, the group encompasses nine distinguished entities within the motorsport sector, including Tatuus Racing, a manufacturer of competition vehicles for entry-level Formula 1 categories, and several other notable brands such as Breda Racing and IAME. In 2025, Korus reported revenues of approximately €148 million and an EBITDA of around €26 million, employing over 350 professionals dedicated to advancing the motorsport landscape.
Industry overview in the target’s specific country
The Auto & Truck Manufacturers (NEC) industry in Italy is characterized by a rich heritage of automotive excellence and innovation. Italy is home to some of the world's most renowned automotive brands, and the sector has been pivotal in driving economic growth. The industry benefits from a robust supply chain, a skilled workforce, and a strong emphasis on research and development, particularly in motorsport and high-performance vehicles.
In recent years, the Italian automotive sector has faced challenges, including shifts in consumer preferences towards electric vehicles and increased regulatory pressures aimed at reducing emissions. However, the motorsport segment, which includes companies like Korus, has remained resilient, leveraging technological advancements and a passion for performance to maintain its competitive edge. The integration of cutting-edge technology in vehicle design and manufacturing processes has positioned Italian manufacturers favorably in both domestic and international markets.
Furthermore, the Italian government has implemented various initiatives to support the automotive industry, including incentives for innovation and sustainability. These measures aim to enhance the industry's global competitiveness while addressing environmental concerns. As a result, the Auto & Truck Manufacturers (NEC) industry in Italy is poised for growth, driven by a combination of traditional craftsmanship and modern technological advancements.
The rationale behind the deal
The acquisition of Korus S.p.A. by the newly established K-TEC represents a strategic move to capitalize on the growing demand for high-performance vehicles and motorsport innovation. This transaction not only allows K-TEC to expand its portfolio but also strengthens its position in the competitive motorsport landscape. The deal is seen as a continuation of the industrial journey initiated by The Equity Club, which aims to foster growth and development within the sector.
Information about the investor K-TEC is a newly formed investment vehicle backed by The Equity Club and Theoricon Industrial Fund, a private equity fund focused on technology and motorsport sectors. Led by Alessandro Alunni Bravi, K-TEC aims …