KTM Sells MV Agusta Back to the Sardarov Family
Transaction in the “mid double-digit million” euro range
MV Agusta is returning to the control of a wealthy family that had previously owned the Italian brand, shortly after it had been purchased by a larger motorcycle company.
If that sounds familiar, it’s what happened when the Castiglioni family regained full ownership of MV Agusta from Harley-Davidson back in 2010, after the American company had purchased it from the family in 2008. Fast forward to 2025 and history repeats itself, this time with the Sardarov family regaining 100% control of MV Agusta after KTM exercised its option to gain a majority stake just a year prior.
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Both Pierer Mobility (KTM AG’s parent company) and MV Agusta announced the transaction today, though the transaction will need to go through the usual approval process, which is expected to be completed before the end of the first half of 2025.
Specific terms of the transaction were not released, but Pierer Mobility says it is selling its 50.1% stake to Art of Mobility S.A., a company controlled by the Sardarov family, for “an enterprise value in the mid double-digit million range.” In financial terms, enterprise value is the market value of the ownership stake plus any outstanding debt and minus cash.
For MV Agusta, this means it will be officially separated from KTM AG and its ongoing financial issues. MV’s time under KTM was brief; KTM AG initially acquired a 25.1% stake in November 2022 before the option to increase the stake to 50.1% was exercised in March 2024.
During this period, MV Agusta was able to achieve some stability and achieve growth. According to MV Agusta, the company sold 4,000 motorcycles in 2024, representing an annual growth rate of 116% compared to 2023. MV Agusta also claims 2024 marked a record year for parts sales, achieving a 99% parts availability rate for motorcycles going back up to seven model years, showing support for both current and past customers.
MV Agusta says its global network of 219 dealerships, including 41 service points, will continue on as normal, with a plan to grow to 270 locations later this year.
Begin Press Release
MV Agusta Back to Running On Its Own
MV Agusta confirms that Art of Mobility S.A., a company controlled by the Sardarov family, will regain full control of the MV Agusta Group, officially marking its separation from KTM.
After a successful year for MV Agusta, the financial situation recently unfolded at PIERER Mobility AG could have significantly impacted the Schiranna brand’s operations. This strategic agreement ensures that MV Agusta remains completely uninvolved in KTM’s ongoing financial restructuring process, allowing the company to continue its positive growth path. Over the past 18 months, MV Agusta has strengthened its financial stability under a fully revitalised management team. In 2024, the company sold 4,000 motorcycles, achieving an annual growth rate of 116% compared to 2023, with last year’s total sales already matched by July. 2024 also marked MV Agusta’s best year ever in parts sales, with a 99% availability rate covering models produced up to seven years ago.
With this move, the company also aims to safeguard its valued network of suppliers and dealers, shielding them from any potential financial disruptions, keeping them from being affected by KTM’s restructuring process, reinforcing MV Agusta’s stability and commitment to its stakeholders.
As for MV Agusta’s global sales network, all 219 active sales points, including 41 service points, will continue business as usual, with the total number expected to reach 270 this year. Additionally, 20 non-European importers are already part of the distribution network. MV Agusta’s business partners have played a crucial role in the company's 2024 achievements, and they will continue to be key contributors to the brand’s future growth.
The company has everything in place to continue its positive expansion and to keep delivering on its commitments. MV Agusta’s operations remain fully independent, with Varese proudly continuing to serve as the central hub for all key activities, including product development, production, sales, marketing, and after-sales services. The development of next generation of motorcycles is progressing as planned, paving the way for a renewed, innovative, exclusive range and as always focused on celebrating its famous claim ‘Motorcycle Art’.
Timur Sardarov – CEO of Art of Mobility S.A.: "This is a moment of pride for all of us at MV Agusta. Regaining full control of the company means we are now stronger and more focused than ever on delivering excellence. Over the past two years, the company has significantly strengthened its processes, systems, and workforce. These structural changes are the foundation of the extraordinary results achieved in 2024 and will continue to drive our success in the years to come. I have full confidence in our leadership team, whose vision, combined with the dedication and professionalism of our renewed dealer network, will take MV Agusta to new heights. My commitment, and that of my family, is to be a vital force for the Varese team, the region, and all our partners."
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Dennis has been a part of the Motorcycle.com team since 2008, and through his tenure, has developed a firm grasp of industry trends, and a solid sense of what's to come. A bloodhound when it comes to tracking information on new motorcycles, if there's a new model on the horizon, you'll probably hear about it from him first.
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So KTM couldn't successfuly maintain a majority stake for even a year before tanking. Who allowed this to happen? The financial people at KTM and the financial organization that allowed money to be borrowed for this are the definition of incompetent. All good for MV though. I'm glad they aren't stuck in the Pierer web of financial disaster. Hopefully they can't find a real investor that makes high quality products to grow this brand. They make beautiful motorcycles and deserve some growth.
Another brand that ruined an existing brand just as HD did to Buell, Ford did to Aston Martin, Volvo, Jaguar and Land Rover, GM did to Saab.
History repeats itself! It's interesting to see MV Agusta returning to the Sardarov family, just like what happened with the Castiglioni family and Harley-Davidson years ago. This move could mean a fresh vision for the brand and perhaps some exciting new models in the future.
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