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Private equity in action - Case Study

Ducati

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Country Italy
Region Emilia-Romagna
Investor Investindustrial
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Despite a very difficult climate for motorcycle manufacturers, under the guidance of private equity, Ducati has performed impressively over the past six years. Investindustrial invested in Ducati in 2006 and has since grown EBITDA nearly four-fold through active repositioning and long-term investments in the company’s product range and global reach.

The two key value creation pillars of the Ducati investment were operational improvement and international expansion – both central to Investindustrial’s operationally driven approach. As a result of this strategy, Ducati launched 17 new models during the investment period and now captures 80% of its revenues from overseas markets. Investindustrial sold the company in 2012.

Gabriele Del Torchio

CEO

Ducati

The strong partnership with Investindustrial has allowed Ducati to fully exploit the potential of the brand. Quotation Marks Graphic
10.6%

market share, up from 4.1% in 2006

80%

of Ducati sales now in overseas markets

What did the business need?

  • Operational improvement
  • International and organic expansion
  • Product range innovation with workforce increase to support demands
  • Weather difficult economic market climate

How did private equity backing create lasting value?

  • Significant focus on improving R&D, resulting in 17 new models launched during Investindustrial ownership
  • Accelerated investments in global sales and distribution
  • Expanded into new markets such as Brazil, China and India
  • Opened a factory in Thailand in 2011 and initiated manufacturing activities in Brazil in the same year

What outcomes did private equity investment achieve?

  • Increased market share in sport performance motorcycles from 4.1% in 2006 to 10.6% in 2011
  • Grew revenues from 305m to 480m and EBITDA from 27m to 94m
  • In 2011, Ducati recorded its highest sales (42,000 motorcycles) and EBITDA ever
  • Close to 100 new jobs created across both Europe and Asia
  • Foreign markets now account for 80% of Ducati’s sales

More information

Ducati

Investindustrial

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