In the wake of KTM’s recent restructuring proceedings, parent company Pierer Mobility announced that it would be selling its 50.1 percent controlling stake in MV Agusta back to the Sardarov family for “an enterprise value in the mid double-digit millions.” KTM had initially acquired a 25.1 percent stake in MV back in 2022 before increasing its ownership to a controlling interest in March of last year. It has been just 10 months since KTM and Pierer took on the Italian marque, but that was before the company’s struggles truly began. The transaction is expected to be concluded before the end of the second quarter of 2025.
Considering KTM owes its creditors around $3 billion right now, the “double-digit millions” it will gain from the sale is just a small drop in the bucket. KTM is stuck with a mountain of unsold bikes, and the vast majority of them are Pantone 1505C, not Lucentezza Rosso Fuoco. MV Agusta aimed to sell 4,000 motorcycles in 2024, a goal it met, accounting for around 116 percent annual growth over 2023. That’s a far cry from the 280,206 units KTM sold in 2023, as the Italian brand is much more boutique-focused and sells pricier bikes.
Timur Sardarov, the man who ran MV Agusta before the Austrian brand got involved, purchased the company from the Castiglioni family. History seems to repeat itself, as a similar transaction happened in 2010 when Harley-Davidson purchased a majority share of MV Agusta from the Castiglionis in 2008 before selling it back to the family at a big loss in 2010.
Timur Sardarov – CEO of Art of Mobility S.A.: “This is a moment of pride for all of us at MV Agusta. Regaining full control of the company means we are now stronger and more focused than ever on delivering excellence. Over the past two years, the company has significantly strengthened its processes, systems, and workforce. These structural changes are the foundation of the extraordinary results achieved in 2024 and will continue to drive our success in the years to come. I have full confidence in our leadership team, whose vision, combined with the dedication and professionalism of our renewed dealer network, will take MV Agusta to new heights. My commitment, and that of my family, is to be a vital force for the Varese team, the region, and all our partners.”
Even without the support of a larger international conglomerate like Pierer, MV Agusta plans to continue on its growth path in 2025, growing from 219 dealerships to 270 locations. 2024 marked a record year for MV, as it not only sold more bikes than ever before, but more parts as well. With Pierer’s help the company was able to develop its after-sales department to include support for bikes up to seven model years old. It’s good to see an iconic Italian superbike brand continue on, and the investment provided by joining up with KTM proved a good move for MV. I hope it sticks around for many years to come.