Key Takeaways
- • CVC Capital Partners has agreed to acquire 100% of Clevertech S.p.A. from the Reggiani family's holding company REFA at an enterprise valuation of approximately €800 million, with transaction completion expected by end of 2026.
- • REFA will reinvest as a minority shareholder alongside CVC, with the founding Reggiani family maintaining full operational continuity through existing management—founder Giuseppe Reggiani remains CEO and Chairman, supported by family members Umberto (Chief Sales Director) and Enrico (Chief Financial Director).
- • Clevertech generated €236 million in revenues and over €70 million in EBITDA in 2025, operating as a global leader in industrial automation and advanced packaging systems with 450+ specialized professionals across international markets.
- • The investment will enable Clevertech to accelerate international expansion, fund innovation initiatives, and strengthen its competitive position in industrial automation, leveraging CVC's resources and network.
- • Clevertech is headquartered in Cadelbosco di Sopra in Italy's "Packaging Valley" region and serves advanced manufacturing markets globally with Italian engineering expertise.
Summary
CVC Capital Partners has completed an agreement to acquire Italian industrial automation company Clevertech from the Reggiani family, marking a significant transaction in the European midmarket private equity landscape. The transaction values the company at approximately €800 million and will see CVC acquire 100% of Clevertech's share capital from REFA S.r.l., the family's holding entity. Transaction closure is anticipated by the end of 2026, subject to customary regulatory approvals and closing conditions.
The structure preserves family involvement and operational continuity. REFA has committed to reinvesting as a minority shareholder alongside CVC, ensuring the Reggiani family maintains a stake in the company's future performance. This co-investment approach is designed to align family and financial sponsor interests through the value creation phase. Critically, the founding family will retain full operational control, with founder Giuseppe Reggiani continuing as Chairman and CEO, supported by family members Umberto Reggiani (Chief Sales Director) and Enrico Reggiani (Chief Financial Director), alongside Chief Technology Officer Simone Cervi.
Clevertech operates as a market leader in the design and manufacture of advanced industrial automation solutions, particularly for packaging systems. The company generated €236 million in revenues and over €70 million in EBITDA during 2025, operating with a team of more than 450 specialized professionals across international markets. Based in Cadelbosco di Sopra in Italy's "Packaging Valley" region—a hub for industrial automation—Clevertech has built its competitive position on Italian engineering excellence and exports its systems to advanced manufacturing markets globally. The company was founded in 1987.
CVC's investment thesis centers on supporting Clevertech's next growth phase, including accelerated international expansion, targeted investments in innovation, and strengthening market leadership in core segments. The partnership leverages CVC's resources, operational expertise, and network within European industrial and manufacturing sectors. For the Reggiani family, the transaction provides both liquidity and capital for strategic growth initiatives while maintaining governance and strategic direction through retained leadership roles.
The structure preserves family involvement and operational continuity. REFA has committed to reinvesting as a minority shareholder alongside CVC, ensuring the Reggiani family maintains a stake in the company's future performance. This co-investment approach is designed to align family and financial sponsor interests through the value creation phase. Critically, the founding family will retain full operational control, with founder Giuseppe Reggiani continuing as Chairman and CEO, supported by family members Umberto Reggiani (Chief Sales Director) and Enrico Reggiani (Chief Financial Director), alongside Chief Technology Officer Simone Cervi.
Clevertech operates as a market leader in the design and manufacture of advanced industrial automation solutions, particularly for packaging systems. The company generated €236 million in revenues and over €70 million in EBITDA during 2025, operating with a team of more than 450 specialized professionals across international markets. Based in Cadelbosco di Sopra in Italy's "Packaging Valley" region—a hub for industrial automation—Clevertech has built its competitive position on Italian engineering excellence and exports its systems to advanced manufacturing markets globally. The company was founded in 1987.
CVC's investment thesis centers on supporting Clevertech's next growth phase, including accelerated international expansion, targeted investments in innovation, and strengthening market leadership in core segments. The partnership leverages CVC's resources, operational expertise, and network within European industrial and manufacturing sectors. For the Reggiani family, the transaction provides both liquidity and capital for strategic growth initiatives while maintaining governance and strategic direction through retained leadership roles.
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