CEVA Logistics, a global leader in third-party logistics, announced the signing of a share purchase agreement to acquire 100 percent of the globally renowned project logistics firm Fagioli Group. The complementary capabilities would enable CEVA to cover the entire project logistics value chain, offering solutions from early-stage development to final delivery. The transaction is subject to customary regulatory approvals.
Private equity firm QuattroR represents the largest shareholder of Fagioli Group, while the remaining shares are held by the family of its long-time chairman, Alessandro Fagioli. With 2024 revenue of 216 million euros, the company is well known around the world as a leader in the design, engineering and execution of specialised hauling, heavy lifting and hoisting activities required by complex project logistics operations.
Industry know-how to engineer, leading assets to execute
CEVA Logistics currently delivers its project logistics solutions as a major player in the freight forwarding aspect of operations, thanks to more than 1,000 experts at locations around the world. The acquisition would see CEVA welcome approximately 450 highly skilled employees from Fagioli Group, including more than 40 specialised engineers working in various technical operations and management roles.
With deep industry knowledge and customer relationships, Fagioli Group’s expertise in large-scale project cargo and engineering solutions would complement CEVA’s current project logistics operations. Fagioli Group’s capabilities would allow CEVA to offer end-to-end solutions, from the design phase to the freight forwarding and transport to the complex delivery and installation operations. The project logistics specialist’s global operations would support CEVA’s business, especially in Europe, Asia Pacific and North America, thanks to its direct customer relationships with engineering, procurement and construction (EPC) companies and industrial customers.
Fagioli Group also boasts thousands of owned and leased assets to support the engineered solutions proposed for customer projects. From crawler and gantry cranes, tower systems and strand jacks to self-propelled modular transporters (SPMT), self-propelled trailers (SPT), barges and ballasting pumps, Fagioli Group’s sizeable fleet of equipment complements the expertise of its engineers and technicians.
Strategic growth continues
Fagioli’s technical capabilities are expected to further complement CEVA’s 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. In addition, the move would also support CEVA’s operations in East Africa thanks to its 2022 acquisition of Spedag Interfreight.
Following closely the addition of Borusan Lojistik in Turkey last month, the signing to purchase Fagioli Group reaffirms the current M&A strategy by CEVA Logistics of boosting its presence in strategic geographies and value-added logistics sectors. Following CEVA’s 2019 acquisition by the CMA CGM Group, the Group’s strategic logistics pillar has integrated numerous large logistics players, including Ingram Micro’s CLS division, GEFCO and Bolloré Logistics, while developing local and sector capabilities through bolt-on acquisitions and targeted joint ventures.
Mathieu Friedberg, CEO, 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, CEO, Fagioli Group, said: “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 conclusion, 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.”
Stefano Cassina, Senior Partner, QuattroR, said: “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 of the quality of the successful work done with the leadership team to grow its portfolio of competencies, 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.”
