Scicon to Benefit from Investment
ROMANO D’EZZELINO, Italy – The South African Enterprise Development Proprietary Limited (SAED) invested an undisclosed amount in ASG International SRL, owner of among them travel bag brand Scicon.
Following the recent announcement of the ASG Group on the investment from SAED, Scicon announced to benefit from the infusion of capital in the group of companies, with greater support to fund the aggressive growth strategy for the Scicon brand.
“With the arrival of SAED, ASG intends to capitalize on the groups strong position in South Africa and to accelerate international expansion and growth through a newly established European headquarter in Italy, in a sector that provides exceptional growth opportunities,” says Heinrich Dannhauser, ASG Group founder and ASG international CEO. Scicon is a brand of ASG International SRL; a joint venture of Heinrich Dannhauser and Massimo Fantin; and the ASG Group’s European subsidiary.
New office and manufacturing facility
“A first result of the capital investment will soon take shape with the opening of a new 4.000 square meter office and manufacturing facility in North Italy, to cater for Scicon as well as its sister brand Ftech custom cycling clothing,” Dannhauser explains.
Louis Geeringh, a partner at SAED, adds: “we are especially attracted by the Italian based branch of the ASG Group and have built a strong relationship with the management team at ASG International over the past months. We are excited to be part of the development of two strong Italian brands and to support the global footprint of the ASG Group.”
About ASG Group
Founded in South Africa by Heinrich Dannhauser, the ASG Group employs approximately 150 people worldwide, holds national agencies for leading cycling brands like Pinarello, Ellsworth, Rudy Project, Sidi, Sixs, Selle San Marco, Most, Fast Forward, Veloflex, High5 and markets and distributes the groups own brands Scicon, Ftech and Solargenome in over 65 countries in the world.
The South African Enterprise Development Proprietary Limited “SAED” is a specialized investment company that provides expansion capital to entrepreneurial companies with high growth potential. In addition to providing capital, by partnering with SAED, portfolio companies have access to the broad relationships and business networks of SAED.