The Taylor Group Acquires Controlling Shares of CVS Ferrari

CVS Ferrari

The Taylor Group has announced it?s acquired 85% of the shares of CVS Ferrari (CVS) from NEIP III and BP.

The transaction’s closing, which has been advised on the seller’s side by BNP Paribas and on the buyer’s side by Angle Advisors, took place February 1, 2024.

“I am delighted to welcome CVS to the Taylor Group of Companies family,” said Robert Taylor, The Taylor Group’s president and COO. “With this international investment, the Taylor Group is committed to becoming a truly global player by opening new markets and combining the strengths of both organizations, which complement each other well. We see tremendous opportunities for growth in market access, new products, lower cost, and enhancing service and support”.

The new CVS board will include Taylor, who will serve as president of CVS; Davis Taylor, director of sudden service; and Hal Nowell, director of sales at Taylor. Davide Bertozzi, director of sales and marketing at CVS, will join the CVS board, while the current board member, Federico Zanotti, will serve as managing director.

NEIP III is an investment company managed by ITAGO with interests in several medium-sized specialized Italian industrial businesses. As result of the transaction, NEIP III is completely exiting its participation in CVS.

BP, formerly Battioni & Pagani and a historic name among the Italian material handling and side loaders industry since 1959, is privately owned by the Pagani family and will retain a 10% share in CVS. SDB, a company owned by Bertozzi, will retain a 5% share.

CVS, founded in 1973, is an established manufacturer of mobile container handling and heavy cargo handling equipment in reach stackers and high-capacity forklifts. CVS is a front-runner in offering digital integration and innovative electric and hybrid solutions with patented energy recovery and regeneration systems with the lowest environmental footprint.

CVS has posted a triple revenue increase since 2020, boosted by new product introductions and broader market reach. With operations at two plants in Roveleto di Cadeo (Piacenza) e Sorbolo (Parma) in Italy, CVS employs 120 people with a yearly volume capacity of about 200 units.

From left: Federico Zanotti, CEO of CVS Ferrari; Lex Taylor, CEO of The Taylor Group; Robert Taylor, president and COO of The Taylor Group; and Davide Bertozzi, director of sales and marketing at CVS Ferrari.

“CVS has found a new home with an industrial investor that can provide long-term stability and adequate resources to enhance the company’s development further, Zanotti said. In combination with the Taylor Group, CVS will boost its capabilities in after-market support, broaden its product offering, and further increase production volumes at the Cadeo and Sorbolo plants. The current management will stay onboard to signal continuity and commitment to the company’s future.”

The Taylor Group, based in Louisville, Mississippi, is a group of subsidiary companies ranging in goods and services from material handling equipment and container handlers to generators to construction equipment to parts and service centers and fleet management. Taylor’s mission has been to provide customers with the highest quality products worldwide and back them up with the most responsive after-market service organization available.

Founded in 1927, Taylor is one of the largest, privately owned American manufacturers of heavy industrial lift equipment, intermodal, and construction industry equipment. For 97 years, Taylor has been committed to customer satisfaction and personal relationships with their customers through the Taylor sales group, the dealer sales network, and Taylor Sudden Service’s after-market support.