EQUITA assisted Racing Force Group

EQUITA SIM - Equity Capital Markets Advisory
Racing Force (700x1050)
Racing Force (700x1050)

Milan, January 13th, 2023 – Racing Force S.p.A. – parent company of Racing Force Group, the world leader in motorsport safety systems – announces the completion of a €10 million capital increase.

The transaction, managed through a primary accelerated book-building procedure, regarded the placement of 1,941,748 ordinary shares at a price of €5.15 per share, equal to a 3% discount on the last closing price but a 4% premium on the average price of the last six months.

The proceeds of the transaction will be used to further strengthen the Group’s production capacity in the United States, also in relation to the Next Generation Fixed-Wing Helmet for the US Air Force and where Racing Force is involved as a manufacturer of a carbon shell for military and civil applications. Part of the proceeds will also be used for other investments in Bahrain and Italy aimed at increasing the Group’s production capacity and efficiency.

The offering represents the first follow-on deal of the company after its IPO in November 2021 (and where Equita acted as Sole Global Coordinator and Bookrunner).

Equita assisted Racing Force as Joint Bookrunner. Thanks to this transaction - representing the eighth accelerated placement successfully completed over the past 2 years, as well as the third primary ABO – the investment banking team and the trading floor of Equita further strengthen the bank’s role as leading ECM franchise in the domestic market, having de facto opened the Italian equity market in 2023.

The transaction in a nutshell

Equita assisted RFG

Racing Force S.p.A. successfully completes the issue of its rights with an accelerated book-building procedure managed by Equita as joint bookrunner

Client:
Racing Force S.p.A.
Date:
January 2023
Mandate:
Primary Accelerated Bookbuilding
Role:
Joint Bookrunner
Value:
€ 10 m
Typology:
Equity Capital Markets – ECM
Advisor:
EQUITA SIM

The company

Racing Force Group is one of the world leaders in the field of safety equipment in motor sports and has a wide range of products ranging from helmets, suits, gloves and shoes, to seats, seat belts, rollbars, steering wheels, fire extinguishers and communication systems. All Group products are marketed under the brands OMP, Bell Helmets, ZeroNoise and Racing Spirit. The Group has the best and most complete range of safety products for motorsport, used by professional drivers and teams from around the world, from F1 to the World Rally Championship, Karting and Rally-Raid. In the last 5 years the Group has won 37 FIA world titles with its products. The 50 years of experience on the market have allowed Racing Force Group to establish long-standing relationships with the main players (drivers, teams, FIA) and to develop products considered among the most reliable by both professional and amateur drivers and teams. Racing Force Group is based in 3 continents: Ronco Scrivia and Pisa in Italy, Ghislenghien (Belgium), Sakhir (Kingdom of Bahrain), Miami, Indianapolis and Mooresville (USA) and has 500 employees. Racing Force products are sold in 80 countries around the world.