CEVA Logistics signs deal to acquire project logistics firm Fagioli

CEVA Logistics has signed a share purchase agreement to acquire 100 per cent of Fagioli Holding S.p.A. and its affiliates, bringing the Fagioli Group under its control, subject to regulatory approvals. The transaction is aimed at expanding CEVA’s project logistics capabilities across the full value chain, from early-stage planning to final delivery.

The Milan-headquartered Fagioli Group is backed by private equity firm QuattroR as its largest shareholder, with the remaining shares held by the family of long-time chairman Alessandro Fagioli. The company reported revenue of €216 million in 2024 and operates globally in the design, engineering and execution of heavy lifting, hoisting and specialised transport for complex project cargo.

CEVA said the acquisition would add engineering depth and asset strength to its existing project logistics operations, which are currently delivered through a global freight forwarding network supported by more than 1,000 project logistics specialists. The transaction would see around 450 Fagioli employees join CEVA, including over 40 engineers in technical and management roles.

Fagioli’s expertise in large-scale project cargo would allow CEVA to extend its service offering from design and engineering through to transport, delivery and installation. The group’s direct relationships with engineering, procurement and construction companies and industrial customers are expected to support CEVA’s operations across Europe, Asia Pacific and North America.

The Fagioli Group operates a fleet of owned and leased equipment used in project execution, including crawler and gantry cranes, tower systems, strand jacks, self-propelled modular transporters, self-propelled trailers, barges and ballasting pumps. These assets are used to support engineered transport and installation solutions for complex cargo movements.

CEVA said Fagioli’s technical capabilities would also strengthen its project logistics activities in the Gulf region through the CEVA Almajdouie Logistics joint venture announced in October 2024. The acquisition is also expected to support CEVA’s presence in East Africa following its 2022 acquisition of Spedag Interfreight.

The planned acquisition follows CEVA’s recent purchase of Borusan Lojistik in Turkey and aligns with its broader strategy of expanding in selected geographies and value-added logistics segments. Since becoming part of the CMA CGM Group in 2019, CEVA has integrated several logistics businesses, including Ingram Micro’s CLS division, GEFCO and Bolloré Logistics, alongside targeted joint ventures and bolt-on acquisitions.

“Everyone who works in project logistics knows Fagioli. Their worldwide reputation and strong company values were a major factor in our decision-making. As part of the broader CMA CGM Group, incorporating their technical expertise into the CEVA team would significantly enhance our project logistics business, enabling us to provide state-of-the-art, comprehensive solutions for our customers, according to Mathieu Friedberg, CEO, CEVA Logistics.

“The arrival of CEVA Logistics would provide Fagioli with superior access-to-market capabilities, a capillary presence and local know-how in each key market around the world, as well as the necessary financial support to accelerate Fagioli’s long-term growth. In closure, my recognition goes to the hard work done by the QuattroR team over the years in repositioning Fagioli as a strong and reliable player worldwide,” said Fernando Bertoni, CEO, Fagioli Group.

“We invested in Fagioli with the ambition to develop its business and strengthen its position as a global leader in project logistics. The acquisition of Fagioli by CEVA would be a testament to the quality of the successful work done with the leadership team to grow its portfolio of competences, to improve its commercial operations and to expand its offering in strategic markets, hence establishing a strong foundation for the future.

Fagioli exemplifies QuattroR’s ability to identify Italian excellences and transform them into thriving market leaders, thanks to our money-in approach. We are confident that, under CEVA’s ownership, Fagioli would have the opportunity to further expand and continue to excel,” said Stefano Cassina, Senior Partner, QuattroR.