March 23, 2026 – French fund Siparex ETI has signed an agreement to acquire a majority stake in ATK, a global leader in high-performance ski mountaineering bindings, from Progressio SGR, alongside the Indulti family and other financial investors.

Founded in 2006 by the Indulti family in Fiorano Modenese, ATK is an extraordinary entrepreneurial success story built on precision engineering and a long-term industrial vision. Originally a family-run business, the company has gradually established itself as a global leader in the design and production of ski mountaineering bindings and high-performance aluminum components for the outdoor sector. In its early development, ATK was considered a “hidden gem,” combining technological excellence with significant international growth potential.

Today, under the leadership of Davide Indulti, representing the second generation, and with the support of Progressio, majority shareholder since 2021, the company has entered a new phase of development, accelerating international expansion and further strengthening its innovation capabilities and industrial excellence. ATK continues to be a gem, no longer hidden, supported by a clear industrial vision, an ambitious growth plan, and the ability to successfully seize the opportunities and challenges of its next development phase.

ATK operates globally, generating over 85% of its revenue from international markets through a network of more than 1,100 specialized retailers and over 25 distributors active in more than 30 countries. The company is on a solid growth trajectory, with EBITDA approaching €10 million, a strong premium positioning, operational excellence, and robust industrial know-how. Recently, ATK inaugurated a new headquarters in Maranello, tripling its production capacity, and opened a commercial branch in Salt Lake City (USA), further strengthening its international presence.

ATK Accelerates International Growth with Siparex ETI

The entry of Siparex ETI as majority shareholder will support ATK’s next growth phase, alongside the founding Indulti family and other financial investors, including BNP Paribas. The strategic plan includes accelerating international expansion, developing the fast-growing “hybrid” bindings segment, and launching new high-value-added product lines in the outdoor sector. The strategy will combine organic growth with targeted acquisitions, aiming to expand the business scope further, including through the development of innovative components for cycling.

A Milestone for Siparex ETI’s Italian Platform

The investment in ATK represents the first significant milestone for the newly established Italian team of Siparex ETI, led by Davide Vitrani and Guglielmo Cucchiara.

The transaction aligns with the Siparex Group’s strategy to strengthen its pan-European presence, developing a long-term local footprint in Italy and supporting Italian industrial companies in their growth and international development.

Progressio Strengthens Its Successful Track Record

The divestment of the stake in ATK marks the sixth exit from Progressio Investimenti III and the third completed by the SGR team in the past six months.

 

Davide Indulti, CEO of ATK, commented: “With Siparex, we share the ambition to take ATK to the next level, leveraging greater resources, investment capacity, and a long-term industrial vision. This new chapter begins with a structured management team strongly focused on growth, ready to support an ambitious development plan. We are expanding our presence in the snow sector and accelerating decisively in the bike segment with a revolutionary braking system project. We will further strengthen ATK’s positioning as a reference in the development and production of high-tech critical equipment for outdoor sports, consolidating the company’s role as a center of excellence in research, engineering, and 100% Made in Italy mechanical manufacturing”.

Thibaud de Portzamparc, Partner, and Davide Vitrani, Director at Siparex ETI, stated: “ATK stands out for its technological excellence, strong innovation capabilities, and fully integrated industrial model, which are clear differentiators in a highly competitive market. The company has built a leadership position in its key segments, supported by a strong brand, proprietary expertise, and a proven ability to innovate over time. We are pleased to support Davide Indulti and his management team in this new phase of development, driving accelerated international growth and expansion into high-potential segments, while respecting ATK’s industrial culture and entrepreneurial DNA. This investment represents a significant milestone in the development of our Italian platform”.

Nino Mascellaro, Senior Partner at Progressio, said: “We are proud to have supported ATK in achieving important results, particularly its strong growth trajectory oriented toward long-term industrial development. Our investment strategy has found full expression in ATK, an excellence in its sector, a perfect combination of innovation and efficiency. Special thanks to CEO Davide Indulti, founders Giovanni Indulti and Guerrina Amorotti, and the management team for their professionalism, growing commitment, and overwhelming passion, which will continue to drive ever more ambitious achievements”.

 

 

Press release