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april 06, 2021 - Elastic Interface

PM&Partners SGR invests in Cytech Group

PM&Partners SGR, one of leading private equity managers in Italy, enters as majority shareholder in Cytech, the parent company of the well-known #elasticinterface pads for cycling shorts. Founders Marino De Marchi and Stefano Coccia will remain in the company with minority stakes, to ensure full continuity with the past. The company is aiming for great future goals. 

San Vendemiano (TV) 1ST April 2021 - PM&Partners SGR announces the acquisition of a majority stake, its entry, with private equity fund PM&Partners III, of #cytechgroup, world leader in the production of pads for cycling apparel and, recently, of cycling gloves with the revolutionary EIT Palm Technology.

Headquartered in San Vendemiano, near Treviso, in North East Italy, the #cytechgroup is a multinational company with offices and plants located in Italy, Croatia and Mexico. Its products are sold in over 40 countries around the world, under three different labels. 

Elastic Interface is undoubtedly the most famous one. 100% Made in Italy in the Treviso plants, it is the choice of the most prestigious cycling clothing companies in the world, including Assos, Gore, Specialized, Rapha and Giro, to name but a few. #elasticinterface is joined by Berenis, which manufactures products in Croatia with an excellent value for money and entirely Made in Europe, and Bikepad, which makes competitively priced, USMCA friendly products that are proudly 100% Made in Mexico. 

The #cytechgroup is a world leader in the production of cycling pads: in 2020 the company sold more than 3.2 million pads. Today, the production widens to cycling gloves as well. The recent launch of the revolutionary EIT Palm technology, the first three-dimensional palm for cycling gloves, has further expanded the company's product portfolio and customer base.

Cytech has a consolidated turnover of around €20 million per year, of which almost 90% is exported. The company employs over 100 people, including direct workers and the staff of the few, selected, partner suppliers. 

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