MANAMA: Al Salam Bank-Bahrain (ASBB) is supporting motorsport safety equipment company OMP Racing in its acquisition of Bell Racing Helmets International, the top manufacturer of head protection for Formula 1 and motorsport drivers.

The Bahrain-based Sharia-compliant bank, listed on the Bahrain Bourse and the Dubai Financial Market, will be the key banking partner for the group in its plans to further expand operations in Bahrain to include the manufacturing and distribution of a wide range of Bell and OMP branded products from a 2,000+ product line.

The group’s expansion plans for its Sakhir location is a continuing reaffirmation of Bahrain’s leading and strategic role in global motorsports.

The expanded services are expected to increase its workforce in Bahrain to over 200 employees.

Exports from the group’s local operations are also expected to exponentially increase, driven by the new synergies and Bahrain’s strategic location, as well as the respective trade agreements Bahrain has with several of its key trading partners.

The combination of OMP’s extensive product line and Bell Helmets’ world-renowned helmets, having supplied 11 out of 20 Formula 1 drivers in 2019, including Lewis Hamilton, Kimi Raikkonen and Charles Leclerc, gives the group an unrivalled and comprehensive product offering.

The group, which has worldwide presence through various brands and facilities, will enhance synergies between its entities with its Bahrain headquarters in Sakhir playing a key strategic role in operations and R&D.

Operations will be further supported by world class facilities and distribution networks in Italy, Belgium and the US.

Paolo Delprato, president and chief executive, said: “The acquisition of Bell Helmets is the most important acquisition in OMP’s 46-year history and marks a revolution in the field of motorsports safety equipment.

“OMP and Bell Helmets are two iconic brands with a rich history of innovation. Putting these two brands together creates the world’s most important motorsports group with tremendous potential for future growth derived by strategic synergies.

“|The role of Al Salam Bank in supporting us in the acquisition of Bell Helmets has been instrumental and we look forward to continue this strategic relationship in our efforts to grow in Bahrain and globally across various business verticals.”

ASBB Group chief executive Rafik Nayed said: “We are proud to be a strategic partner of OMP’s acquisition of Bell Helmets. The group’s expanded offering now combines the best global brands in Formula 1 and motorsports safety equipment right here in Bahrain. The bank is honoured to support the group’s future growth and contribute to further cementing Bahrain’s position as a global motorsports hub.”

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