A new partnership between leading global sport and cycling industry player ASG and South African Enterprise Development (SAED) will have significant benefits for cycling in South Africa.
ASG founder and CEO Heinrich Dannhauser said this strategic investment would ensure the company’s growth and international expansion.
“We welcome SAED on board as our strategic partner as we broaden our product offering and events to the ever growing cycling market.”
The Italian-based ASG International group will be moving into new head offices in Bassano del Grappa, Italy, at the beginning of October. Photo: Supplied
SAED is a specialised investment company that provides expansion capital to entrepreneurial companies with high growth potential.
In addition to providing capital, by partnering with SAED, portfolio companies have access to the broad relationships and business networks of SAED.
SAED also provides advice, mentoring and a strong sounding board to entrepreneurs to help unlock and capacitate a high growth strategy for their businesses (www.saenterprise.co.za).
ASG operates through subsidiaries ASG Sport Solutions, ASG Events and Italy-based ASG International and distributes top brands such as Pinarello, Rudy Project, SIDI and High5, while also staging some of the country’s leading cycle races – among them the Bestmed Tour of Good Hope.
Through ASG International, they own custom cycling clothing brand F-tech and global bike transportation solution Scicon, which is distributed in more than 60 countries.
SAED managing director David Pimstein said ASG had not only developed strong relationships with international distributors, they were brand owners with “an exciting vision to grow their business globally”.
“The combination of capital, experience in designing and manufacturing premium consumer goods and a dynamic team will take the business to the next level,” he said.
“We look forward to partnering with this passionate company for many years to come.”
Dannhauser said the imminent launch of leading American mountain bike brand, Ellsworth, in South Africa was an example of what the investment would mean to SA cycling enthusiasts.
The ASG executive management team, which include Steyn du Plessis (ASG Sport), Wynand de Villiers (ASG Events) and Massimo Fantin at ASG International in Bassano, will remain unchanged.
