The parent company of KTM, Pierer Mobility, has this week taken a controlling stake in MV, after the two-wheeler giant initially bought into the Italian brand in the autumn of 2022.
The move really comes as no surprise, especially since upper management at the Pierer Mobility Group had made clear the company’s desire to acquire a controlling stake in MV already last year. The finalisation of the agreement that saw PMG become the controlling shareholder of the Schiranna brand took place last Wednesday when Pierer issued a call option to acquire a majority stake in MV, increasing the brand's share in the company to 50.1 per cent.
The day-to-day running of the business will also be affected by the acquisition, as Hubert Trunkenpolz will replace Timur Sardarov as CEO and Chairman of the Board of Directors. Sardarov will continue to work alongside the Italian brand he’s had a hand in managing since 2016. Bricks and mortar changes will also come about as a result of the news, with Pierer planning a site expansion at the Varese headquarters, to boost the capacity of the facility.
Speaking about the change to the management and the majority stake, former CEO Mr Sadarov said:
“MV Agusta embodies passion and a unique sense of romance that captivated me, a seasoned entrepreneur, from day one. The personal challenge of guiding the company out of crisis and steering it towards success through innovative business strategies, team expansion, and new product developments has been conquered. It is an honor to play a role in shaping MV Agusta’s legacy. Over the past five years, both the company and I have evolved significantly. Our growth together is a testament to the transformative journey we’ve shared. My time with MV Agusta has been a pivotal chapter in my life, filled with mutual joys and challenges. As I continue to serve as a dedicated Vice-Chairman, I am committed to supporting the company and its ongoing success.”
