New Management at Look Cycle Group
NEVERS, France – Industry outsider Federico Musi has been appointed CEO of the Look Cycle Group as of September 1 this year following the acquisition of the company by Activa Capital last July as Bike Europe reported.
“Federico Musi and his team will build upon the technical know-how and the innovation capabilities of the Group to strengthen the brand and accelerate its international growth,” Look Cycle announced in a press statement.
Commercial business development operations
Federico Musi began his career as an engineer in the oil industry at Saipem in Great Britain, then later at the strategic consulting company McKinsey, both in Italy and the United States. After joining the Piaggio Group in 2004, he has led extensive commercial business development operations in several countries.
Relaunch and restructuring
Especially in the motorcycle and scooter industry Federico Musi has an outstanding track record. He established the brands Vespa, Aprilia and Moto Guzzi in the United States and was responsible for the relaunch and restructuring of the Spanish company Derbi. As President of the French subsidiary of the Piaggio Group, Federico Musi succeeded in re-establishing the leadership of Piaggio in France.
The new CEO states; “Look as well as Corima are successful in innovation and performance, and for both brands I see numerous opportunities for growth and consolidation in this very dynamic market. I am honoured to work alongside the Supervisory Board with Activa Capital, Dominique Bergin and Thierry Fournier, and know that I can count on the immense expertise of the technical team of Look and Corima.”
Dominique Bergin, seasoned sportsman, joined the cycling industry in 1998. A true enthusiast, he acquired Look Cycle together with Thierry Fournier, and focused on technological innovation and high-end products to bring the business to an international level. Today Look Cycle is one of the most innovative French companies in this industry. The company generates 45 million euro in annual sales of which 75% comes from abroad. It dedicates 10% of its sales revenue to research and innovation and has registered more than 230 patents.
About Activa Capital
Activa Capital is a private equity firm that accompanies and accelerates the development and the international presence of French mid-sized companies with high growth potential. It manages more than 500 million euros on behalf of institutional investors and its management company is approved by the French Financial Market Authority.