Alpinestars, the Italian maker of protection gear used by motorcycle racers, is attracting takeover interest from Asian private equity firms including Fountain Vest and HSG, people familiar with the matter said. They are among suitors that have separately been considering bids for the closely held company, the people said, asking not to be identified because the deliberations are private. Alpinestars has been working with a financial adviser on a potential sale that could value the business at about €1 billion ($1.2 billion), the people said. Other potential buyers have also been pursuing Alpinestars, the people said. Talks are ongoing and no final decisions have been made, according to the people.

"Alpinestars regularly receives investment proposals and evaluates them in the context of its long-term strategic objectives and growth plans," the Italian company said in a statement. "The company is focused on executing its long-term growth strategy, investing in product innovation, advancing motorcycling and cycling safety, and expanding its global presence." A representative for Fountain Vest didn't respond to requests for comment, while HSG declined to comment. Asian private equity firms have been eyeing deals in Europe as they seek to diversify and invest in global brands they can further expand in faster-growing emerging markets.

HSG has acquired Italian sneaker brand Golden Goose, as well as a majority stake in audio equipment maker Marshall. Fountain Vest has also been looking at buying various assets in Europe. Motorcycling has become popular in China after local manufacturer ZXMoto recently won some races at the 2026 World SSP championship. HSG is an investor in ZXMoto. Alpinestars, founded in 1963, is owned by the Mazzarolo family. It makes protective gear including boots, helmets, jackets and gloves often used in Liberty Media Corp.'s Moto GP motorcycling and Formula One racing competitions. Other products include airbag safety systems as well as sportswear.