Italian container handling equipment supplier CVS Ferrari has been sold to investment company Nord Est Investment Partners III (NEIP III) and Group Battioni Pagani’s sideloaders specialist BP Handling Technologies.
The two Italian parties wholly acquired the company from the US Manitex International Inc.
NEIP III, which is run by Finint & Partners, will have a 60% stake in the new ownership, while the remaining 40% will be split among BP-CVS managers.
The deal, of which the value was not disclosed, is expected to be completed by the end of the year.
According to Nicola Bordignon, partner di Finint & Partners, “bringing together the two companies will allow to take advantage of CVS network and commercial abilities and the technology developed by BP for the international sale of a highly efficient product”.
“With this project, we bring back into Italian hands a company like CVS [which has] a great technological substance and good visibility on the global market of port equipment,” Bordignon added.
CVS CEO Stefano Mercati will continue heading the company.
Earlier this year, Terex Port Solutions (TPS) acquired the assets of CVS Ferrari’s terminal tractor product line, which was part of Manitex International since 2010.