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EICMA Debrief: MV Agusta’s Money, Management, & Motorcycles

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In our round-ups of the EICMA show of Milan, I am not sure if we have saved the best for last, but we certainly have saved the most important for last. There has been no shortage of news from MV Agusta this month already, and the Italian brand ran a skillful guerrilla campaign in Milan this year - a show that takes place in the company's own backyard.

In this month alone, MV Agusta has announced a €40 million investment, a new CEO, a new four-cylinder platform, and a bevy of special edition models. Recently too, the iconic motorcycle brand has entered into the Moto2 World Championship, withdrawn from the World Superbike paddock, and positioned itself as the ultra-premium offering in the two-wheeled space.

So, what does this all mean? Well...we certainly have a lot to talk about.

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MV Agusta Gets €40 Million in Cash…And a New CEO

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MV Agusta has raised an additional €40 million in funding, the Italian firm reports, bringing its total in fundraising to €50 million over the last 12 months, as the company moves past its previous financial troubles.

With the capital increase comes a change in the leadership structure at MV Agusta, with Giovanni Castiglioni continuing as the company’s President, while investor Timur Sardarov takes on the role of the company’s new CEO and Chairman of the Board.

This arrangement should mean that Castiglioni will focus on the day-to-day business of MV Agusta and its product lineup, while  Sardarov will mind the company’s financial future and big-picture strategy, including the company’s new business plan.

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MV Agusta Buys Back Shares from Mercedes AMG

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A bit of a housekeeping item, but today it was announced that MV Holding has completed the acquisition of the shares that were previously held by Mercedes AMG, thus effectively removing the German brand from the Italian motorcycle company’s business operations.

This means that MV Agusta is now solely controlled by Giovanni Castiglioni and the Sardarov family, though today’s news is likely due to investments by the latter, into the struggling motorcycle brand.

For fans of the MV Agusta brand, this surely is the start of a new chapter for this mercurial motorcycle marque. 

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MV Agusta Closes Deal with Russian Investors

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MV Agusta has finally closed a very important funding round, getting equity investment from ComSar Invest, which is backed by the Black Ocean Group, which in turn is owned by Russian billionaire Timur Sardarov.

The move sees MV Agusta able also to repurchase its stock from Mercedes AMG, which previously owned a 25% stake in the Italian motorcycle manufacturer.

The details of the ComSar deal however have not been disclosed, though we do know that the deal includes enough cash to finish MV Agusta’s recapitalization plan with its creditors and to begin its new, more focused, business plan for new models and motorcycle production.

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From Russia with Love, MV Agusta Finds New Money

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Last week, I was ready to start polishing the obituary for MV Agusta – the Italian company seemingly in an impossibly terminal state.

Italy’s Guardia di Finanza had found that the Italian company had been using the social security contributions of its workers to pay down the money owed to parts suppliers (something MV Agusta disputes is the case), and earlier this year MV Agusta CEO Giovanni Castiglioni was investigated for irregularities on his tax return.

All of this is on top of the ever precarious financial situation MV Agusta has been in for the past year, which has resulted in the company looking to restructure its €50 million debt in the Italian court system, furlough a good portion of its workforce, and reduce its production volume to roughly 9,000 units per year.

Now it seems MV Agusta’s fortunes are changing, with the Italian motorcycle maker signing an agreement with the Black Ocean investment group to recapitalize MV Agusta.

Details of the pending transaction haven’t been released, but we can assume that the increase in capital will help ease MV Agusta’s relationship with suppliers, get workers back on the assembly line, and continue the development of new models.

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