Key Takeaways
- Siparex ETI acquired ATK Sports, Progressio SGR.
- Sector: Industrials, Manufacturing, Consumer.
- Geography: Italy, France.
Analysis
French private equity firm Siparex ETI has secured a controlling 65% stake in ATK Sports, a prominent Italian manufacturer renowned for its advanced ski touring bindings and precision aluminum components. This strategic acquisition marks a significant milestone for Siparex, representing the inaugural transaction executed by its recently established Italian operational team, finalized approximately one year after its inception.
The transaction places an enterprise valuation on ATK Sports in the range of EUR 80 million to EUR 100 million. The capital infusion for this deal was predominantly sourced through equity, accounting for roughly 70% of the total funding, with the remaining balance provided by a syndicate of financial institutions including Banco BPM, BNL, and Banca Sella.
ATK Sports demonstrated robust financial performance, concluding the 2025 fiscal year with revenues approaching EUR 19 million and generating an EBITDA of EUR 6.3 million. Projections indicate a substantial EBITDA growth to nearly EUR 10 million by 2026. The company also reported a healthy net liquidity position of EUR 8.2 million, underscoring its financial stability.
This move signifies the exit of previous majority shareholder Progressio SGR, an Italian private equity firm that had invested in ATK Sports in 2021. The founding Indulti family will continue to lead the company, reinforcing their enduring commitment to its future growth and operational direction.
ATK Sports has carved out a distinguished reputation as a global leader in the ski touring segment, celebrated for its lightweight, high-performance bindings favored by elite athletes and recreational enthusiasts alike. Beyond its core sports equipment, the company also leverages its expertise in aluminum component manufacturing for demanding applications within the automotive and industrial sectors, a testament to its engineering prowess.
With approximately EUR 4 billion in assets under management, Siparex ETI, headquartered in Lyon, France, focuses on mid-market private equity investments across France and Southern Europe. The acquisition of ATK Sports highlights Siparex's expanding cross-border investment capabilities and its strategic intent to deepen its presence within the dynamic Italian market. This expansion into the specialized outdoor equipment and precision manufacturing sectors aligns with broader trends of private equity seeking niche, high-margin businesses with strong brand equity.