MV Agusta’s finance troubles have formed one of the ongoing stories of 2016 but there’s hope on the horizon thanks to new funding from Black Ocean.
That might not be a familiar name, but it’s an international investment firm that has now provided funds to shore up MV Agusta’s capital. The hope is that the new money will help MV Agusta to implement the restructuring plan that it formulated earlier this year. In turn, that should put MV onto firmer financial footing into the future.
Black Ocean is a part of the Ocean Group, founded by entrepreneurs Oliver Ripley and Timur Sardarov. The firm has offices in London, New York and Luxembourg and already has fingers in many pies including technology, real estate and aviation.
Oliver Ripley, C|EO of Black Ocean, said of the new deal: “We are very pleased to become part of such an iconic Italian company and excited by the opportunity to build this into a truly international brand and industry leader.”
MV Agusta boss Giovanni Castiglioni echoed the sentiments, saying: “I am very pleased that we have reached this agreement with Black Ocean. Beyond the strengthening of our capital, which is important for the future growth of MV AGUSTA, I strongly believe that Mr Sardarov , Mr Ripley and their global team will be able to contribute with their entrepreneurial and managerial skills in the consolidation of MV AGUSTA as a key player in the super premium motorcycle market.”
While that all sounds positive, at the moment neither MV nor Black Ocean have revealed the level of the funding. It remains to be seen whether the cash injection will allow vital ongoing projects – notably the development of a new four-cylinder range of bikes – to reach their conclusion. While the lower end of MV Agusta’s range, made up largely of the firm’s 800cc three-cylinder models, has been well-received, the larger profit margins provided by top-of-the-range models are vital to a company with such relatively small production figures.
It’s understood that a new four-cylinder Brutale is already well under development, and it’s likely to be joined by a replacement for the existing F4 superbike. However, thanks to the hiatus caused by the firm’s recent money woes, the schedule for these bikes’ releases has yet to be firmly established.
