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Bianchi Bicycles Receive 15 Million Green Loan from Intesa Sanpaolo

Bianchi Bicycles closed 2020 with revenues of $79.7 million (€70.7 million), an Ebitda of $3.7 million (€3.3 million), and a net financial position of $10.8 million (€9.6 million). The company has received a $17 million (€15 million) loan from Intesa Sanpaolo. The last time Intesa Sanpaolo granted a green loan to a medium-sized Italian company was last November

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FIVE Bianchi spa (Fabbrica Italiana Velocipedi Edoardo Bianchi), a historical Milanese company among the world’s leading brands in the production of bicycles and e-bikes, has received a $17 million (€15 million) loan from Intesa Sanpaolo. Of these, $5.6 million (€5 million) will be used to purchase the area where a new production center will be built in Treviglio and the remaining $11.3 million (€10 million) will finance new technologically advanced production lines, as well as power generation plants that will make the site energy independent, all while creating new jobs.

The $11.3 million (€10 million) tranche of the loan is assisted by the Sace Green Guarantee, which is part of the one billion euro provision granted by Cassa Depositi e Prestiti to facilitate access to credit for SMEs. The overall intervention is part of Intesa Sanpaolo’s broader plan called S-Loan Climate Change to support companies in their investments aimed at the ecological transition and the objectives linked to the National Recovery and Resilience Plan (PNRR).

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The company is the most historical and prestigious bicycle brand, founded by Edoardo Bianchi in Milan in 1885

Currently, it is owned by Grimaldi Industri AB, the holding company headed by entrepreneur Salvatore Grimaldi, born in 1945, who emigrated to Sweden with his family at the age of seven. Grimaldi, after having built an authentic empire in the engineering sector, in 1997 bought the Bianchi and Peugeot bicycle brands from Piaggio. In turn, Piaggio had purchased Bianchi in 1991.

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Present today on every continent and in more than 60 countries, Bianchi offers a complete range of road, e-bike, MTB, and City-Fitness models to meet the needs of any cyclist. All frames are designed and developed at the company’s Treviglio (Bergamo) headquarters, as are graphics and color combinations. The company closed 2020 with revenues of $79.7 million (€70.7 million), an Ebitda of $3.7 million (€3.3 million), and a net financial position of $10.8 million (€9.6 million).

Fabrizio Scalzotto, CEO of Bianchi, explained: “Bianchi’s new headquarters will cover an area of 30,000 sqm, of which more than 17,000 will be dedicated to production, as part of a broader project of renewal and enhancement of Made in Italy. Central to Bianchi’s vision and strategy is the start-up of a reshoring process which, thanks also to the support and collaboration of Intesa Sanpaolo, will bring back to Italy technical and production skills that in recent decades have been located outside Europe.”

The last time Intesa Sanpaolo granted a green loan to a medium-sized Italian company was last November, when it granted a $35.5 million (€31.5 million) project finance loan to biogas producer 2Bio, controlled by Green Arrow Capital.

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(Featured Image by Patrick Hendry via Unsplash)

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First published in Be Beez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Daphne Freeman has worked in the crowdfunding and impact investing industry for the past few years, gaining experience in marketing, and connecting businesses and entrepreneurs in need with the right investors. As a seasoned grant writer as well as financial market journalist, she is passionate about making a social impact in the world. A free spirit, Daphne also enjoys writing and exploring topics of interest, currently CBD, health and beauty, and social media influencers.