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Fagioli on the acquisition trail

October 4 - Fagioli Group of Italy is on the verge of starting a new stage of development following the agreement due to be signed before the end of October that will lead the local investment fund QuattroR to purchase an initial 49 percent stake of the c

Quoted in the Italian financial newspaper IlSole24Ore, Fagioli group ceo Fabio Belli says his company aims to double its revenues in six years time, achieved through organic growth, as well as acquisitions in the USA and Asia. "Our plan is to grow and to list the group as soon as we reach a size comparable with the first three players of the market," said Fabio Belli who has been leading the company since 2012.

As for the first takeover set to be signed at the beginning of the next year, Fagioli's ceo specified that it is in regards to a company based in the USA, "a region where we do not have our own cranes and plants. Our target is to takeover firms active in the lifting and handling of over-dimensional cargoes so that we can match the equipment with our skills."

Belli also explained that Fagioli in the last few years changed its business model reducing the activity in the freight forwarding sector, while progressively focusing on tailor-made and more challenging projects where project cargo logistics skills are needed.

Talking about new opportunities arising in the heavy lift market worldwide, Belli mentioned offshore wind power projects and nuclear plants decommissioning as the two most interesting areas Fagioli is looking after.

"Today we are participating in a tender for a new project offshore Italy," Fagioli's ceo concluded.

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