The deal sees CEVA acquire 100% of the €216m revenue Italian firm from private equity owner QuattroR and chairman Alessandro Fagioli
CEVA Logistics has agreed to acquire project logistics firm Fagioli Group as it continues its strategy of acquiring firms in "strategic geographies" and "value-added" sectors.
The deal will see CEVA acquire 100% of Fagioli from the largest owner, private equity firm QuattroR, and shareholder and chairman Alessandro Fagioli.
Fagioli has revenues of €216m and offers large-scale project cargo and engineering solutions.
CMA CGM-owned CEVA said the company would complement its current project logistics operations, allowing it to offer end-to-end solutions, from the design phase to the freight forwarding and transport, to the complex delivery and installation operations.
The company is a "leader in the design, engineering and execution of specialised hauling, heavy lifting and hoisting activities required by complex project logistics operations", CEVA said.
Fagioli has equipment, including crawler and gantry cranes, tower systems and strand jacks, self-propelled modular transporters (SPMT), self-propelled trailers (SPT), barges and ballasting pumps.
Mathieu Friedberg, chief executive, CEVA Logistics, said: “Everyone who works in project logistics knows Fagioli. Their worldwide reputation and strong company values were a major factor in our decision making.
"Adding their technical expertise to the CEVA team, as part of the broader CMA CGM Group, would be a significant boost for our project logistics business in offering state-of-the-art, end-to-end solutions for our customers.”
Fernando Bertoni, chief executive, Fagioli Group, added: “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."
CEVA said the purchase of Fagioli Group reaffirmed its current M&A strategy of boosting its presence in strategic geographies and value-added logistics sectors.
The acquisition will also further complement its project logistics activities under the CEVA Almajdouie Logistics joint venture announced in October 2024 in Saudi Arabia for operations across the broader Gulf Cooperation Council (GCC) region and support CEVA’s operations in East Africa, thanks to its 2022 acquisition of Spedag Interfreight.
Elsewhere, the company has also recently announced the addition of Borusan Lojistik in Turkey last month.
