CEVA announced on 15 December that it has signed a share purchase agreement to acquire 100% of Fagioli Holding S.p.A. and its affiliates. The transaction remains subject to customary regulatory approvals.
Founded in Italy, Fagioli has built its reputation in complex project logistics, with a focus on heavy lifting, oversized transport and engineered solutions for industrial and infrastructure projects.
In 2024, the company reported revenues of €216 million and employed around 450 people worldwide, including more than 40 specialised engineers. Its activities span the design, engineering and execution of large-scale project cargo operations, often carried out in cooperation with engineering, procurement and construction (EPC) contractors.
Under the planned acquisition, this expertise would be absorbed into CEVA’s global project logistics organisation, which has so far operated mainly as a freight forwarder with project management capabilities.
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Engineering and assets brought in-house
A key element of the deal is Fagioli’s fleet of owned and leased heavy-lift equipment, including crawler and gantry cranes, strand jacks, self-propelled modular transporters (SPMTs), specialised trailers, barges and ballasting systems.
By bringing both engineering teams and execution assets in-house, CEVA would be able to cover a larger share of the project logistics value chain internally, from early-stage design through to transport, lifting and installation. This reduces reliance on external heavy-haul subcontractors for complex operations.
Implications for Europe’s heavy transport market
For Europe’s heavy transport and project logistics sector, the transaction reflects a broader trend towards consolidation and vertical integration. Large industrial and infrastructure projects have traditionally relied on networks of independent, highly specialised heavy-haul operators working alongside global forwarders.
With this expertise moving into a centrally managed structure, tendering and execution models may shift, particularly where EPC contractors seek single-provider, end-to-end logistics solutions. Independent heavy-haul operators may face increased competition for subcontracting roles on capital-intensive projects.
European expertise, global deployment
CEVA expects Fagioli’s capabilities to support its project logistics activities in Europe, Asia-Pacific and North America, while also strengthening operations linked to its joint venture in the Gulf region and its presence in East Africa.
While the acquisition follows CEVA’s recent purchase of Borusan Lojistik in Turkey, it stands out for its focus on engineering know-how and asset-heavy execution rather than forwarding scale. If approved, it would further reduce the number of independent heavy-lift specialists operating outside global logistics groups, potentially reshaping competition in one of road transport’s most specialised segments.
