KTM, Pierer Mobility Acquires Controlling Stake in MV Agusta
We recently ran a story about how MV Agusta may be in financial trouble after a dismal performance in 2023. We also mentioned that MV’s CEO Timur Sardarov was adamant in not relinquishing control of the company to the giant Pierer Mobility Group (KTM, Husqvarna, GasGas). Well, news just broke that Pierer Mobility has indeed acquired a controlling stake in MV Agusta.
Pierer Mobility Group (PMG) has made clear that they wish to acquire a controlling stake in MV since their initial 25% purchase in 2020. The finalisation of the agreement sees PMG as the controlling shareholder when they issued a call option, increasing their share in MV to 50.1%.
The deal also sees a shakeup in MV’s day-to-day business. Hubert Trunkenpolz replaces Timur Sardarov as the CEO and Chairmon of the Board of Director. (Hubert is the nephew of Hans Trunkenpolz, who co-founded KTM, hence the “T” in brand’s name.) Sardarov will remain with MV in the role of Vice-Chairman. Apart from that, PMG is planning to expand MV’s headquarters at Varese, Italy.
Sadarov said:
“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 honor 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.”
So what now? It is going to really interesting to see what kind of products that this new venture will produce. KTM, for one, has stated unequivocally that they did not wish to produce anymore sportbikes since the RC8’s production ended. As for nakeds, KTM already have their bases covered with the 890 Duke and 1390 Super Duke R. In fact, KTM, GasGas, Husqvarna have covered many segments among them, more so KTM.
Or will PMG continue with putting out the existing lineup of MV Agustas?
Time will tell.
MV Agusta In Dire Straits (Again)?
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