Another cornerstone of Italian transport has passed into foreign hands, and this time it is a prized asset. Fagioli Holding, which controls the activities of the Fagioli Group, specialised in heavy haulage and project logistics, has entered the orbit of the French giant CMA CGM. The move was announced on 15 December 2025 by Ceva Logistics, the multinational logistics company controlled by CMA CGM, which has signed an agreement to acquire 100% of Fagioli Holding and all its affiliates, for an undisclosed amount. The objective is to structurally strengthen positioning in project logistics and, in particular, in heavy and abnormal transport, heavy lifting and engineering applied to large industrial projects. The integration of the two organisations will make it possible to cover the entire value chain, from the design and engineering phase through to final delivery and on-site installation operations.
The Fagioli Group, which reported consolidated revenues of €216 million in 2024, is majority-owned by the private equity fund QuattroR, with the remaining stake held by the Fagioli family through Fagioli Finance. The transaction provides for the transfer of the entire share capital to Ceva, which will integrate around 450 specialised employees, including more than 40 engineers, as well as a broad portfolio of technical assets dedicated to complex handling operations. Fagioli’s activities will particularly strengthen Ceva’s presence in Europe, North America and Asia-Pacific, while also supporting development in the Middle East and East Africa, where the group is already active through joint ventures and previous acquisitions.
Founded in 1955 in Sant’Ilario d’Enza, in the province of Reggio Emilia, by Giovanni Fagioli, the company began as a traditional transport operator, initially active in timber and consumer goods. In the early 1960s it progressively specialised in heavy and abnormal transport, with operations that marked the start of a distinctive path within the Italian landscape. Growth accelerated under the leadership of Alessandro Fagioli, the founder’s son, who over more than sixty years transformed the family business into a technologically advanced international group.
Over this period, Fagioli played a leading role in complex operations that helped consolidate its global reputation, including the transport of the submarine Enrico Toti to the Museo Nazionale della Scienza e della Tecnologia in Milan in 2005, the refloating of the Costa Concordia off the island of Giglio in 2013, and the logistics and lifting activities linked to the demolition and reconstruction of the Morandi bridge in Genoa between 2018 and 2020. Alessandro Fagioli passed away in March 2020, leaving behind a group strongly characterised by engineering expertise and rare operational capabilities.
Before QuattroR’s entry, the group had gone through a phase of severe financial strain. In 2013 a debt restructuring agreement of around €180 million was signed with the banking system, significantly limiting investment capacity and industrial development. The turning point came in December 2017, when QuattroR Sgr acquired an initial 49% stake in Fagioli Spa, with an agreed path to subsequently increase its holding to 60% of the capital. The transaction was aimed at strengthening the group’s capital and financial structure while maintaining Italian governance, with the remaining 40% held by the Fagioli family holding company.
In the years that followed, the fund supported a process of financial rebalancing and industrial relaunch, accompanied by targeted investments and a gradual strengthening of international presence. In 2021 there were market rumours about a possible sale of QuattroR’s controlling stake, but these did not materialise. The fund remained the majority shareholder until the agreement with Ceva Logistics, accompanying the group into a new phase of integration within a global logistics operator.
On the management front, in February 2024 the board of directors appointed Fernando Bertoni as chief executive officer, with a mandate to accelerate development in high-potential segments such as energy generation, infrastructure and special lifting. Bertoni brought more than thirty years of experience gained in international contexts in the energy and industrial engineering sectors, having held senior roles in groups such as Util Group and GE Environmental Control Solutions.
From a financial perspective, the accounts show steady growth, with a marked difference between the parent company figures and the consolidated data. Fagioli Spa reported revenues of €121.6 million in 2021, rising to €124.4 million in 2022 (+2.3%), €128.6 million in 2023 (+3.4%) and €133.2 million in 2024 (+3.6%). The 2023 financial year closed with a loss of €3.9 million, after a profit of €2.3 million in 2022, mainly due to provisions and value adjustments.
At consolidated level, which includes the international operating companies, the scale is larger. In 2019 revenues amounted to €190.2 million, with an EBITDA of €25 million. In 2020 EBITDA stood at €24 million (+6.4% year on year), while net profit reached €7.2 million (+21.4%). In 2023 consolidated turnover was around €200 million, a threshold surpassed in 2024, when revenues exceeded €200 million, confirming the strengthening of the international operating perimeter. To support investments, in February 2025 Mediocredito Centrale granted a €5 million loan, 70% guaranteed by Sace’s Garanzia Futuro, earmarked for fleet expansion in the European, American and Australian markets.
One of the distinguishing features of the Fagioli Group is its asset base, considered among the most extensive in the world for heavy transport and lifting operations. The fleet includes state-of-the-art self-propelled modular transporters (SPMTs) with capacities of up to 60 tonnes per axle, suitable for road infrastructure, construction sites and complex terrain, as well as railway wagons with up to 32 axles and capacities of up to 500 tonnes, including special Schnabel configurations. These are complemented by skidding systems with capacities of up to 64,000 tonnes for the horizontal movement of large structures.
In lifting, the group operates hydraulic strand jacks with capacities ranging from 15 to 750 tonnes per unit, usable in multiple configurations, and large crawler cranes, including the 3,000-tonne LR13000, alongside models with capacities of up to 1,350 tonnes. The portfolio is completed by modular jack-up systems extendable up to 4,000 tonnes and dedicated solutions for load-out operations in the offshore wind sector.
Fagioli’s operational structure is organised around three main hubs, in Sant’Ilario d’Enza, Singapore and Houston, coordinating a direct presence in more than 17 countries and a workforce of over 600 employees. The sectors served range from conventional and renewable energy to oil and gas, from civil infrastructure to heavy industry, with a client portfolio that includes major industrial multinationals and global EPC contractors. In this context, entry into the Ceva Logistics perimeter places the Fagioli Group within a global logistics platform, expanding its market access and integrating specialist engineering expertise with an international freight forwarding and contract logistics network.
Pietro Rossoni
