Key Takeaways
- • CVC Capital Partners has acquired 100% of Clevertech Group from family holding company REFA, with the founding Reggiani family reinvesting as a minority shareholder and retaining full management continuity.
- • Clevertech, an Italian industrial automation and packaging systems manufacturer, generated €236 million in revenues and over €70 million in EBITDA in 2025, with a team of 450+ specialists operating globally from its base in Italy's "Packaging Valley."
- • White & Case LLP served as legal counsel to lenders on the transaction, leveraging the firm's established expertise in cross-border private equity M&A and structured financing.
- • The investment will enable Clevertech to accelerate international expansion, fund innovation initiatives, and strengthen its market leadership position in advanced industrial automation solutions.
- • Founder and CEO Giuseppe Reggiani remains as Chairman and Chief Executive Officer, with the full management team (Umberto Reggiani, Enrico Reggiani, and Simone Cervi) continuing in their respective roles.
Summary
CVC Capital Partners has completed a strategic acquisition of Clevertech Group, the Italian leader in industrial automation and advanced packaging systems, from family holding company REFA S.r.l. under the ownership of the Reggiani family. The transaction structure preserves significant continuity and family involvement: CVC acquired 100% of the share capital while REFA reinvested alongside CVC as a minority shareholder, ensuring the founding family maintains a stake in the business's future growth. White & Case LLP provided legal counsel to the lenders financing the acquisition, drawing on the firm's established track record in complex cross-border private equity transactions and structured debt arrangements.
Clevertech represents a compelling acquisition target within the industrial automation sector. Founded in 1987 and headquartered in Cadelbosco di Sopra in Italy's renowned "Packaging Valley" region, the company operates as a global partner in designing and manufacturing advanced industrial automated packaging systems. The company's financial profile underscores its operational strength: 2025 revenues reached €236 million with EBITDA exceeding €70 million, supported by a workforce of over 450 specialized professionals. The company maintains an international presence, delivering Italian engineering expertise to sophisticated markets worldwide.
The transaction reflects CVC's continued investment strategy focused on established European industrial businesses with global reach and strong cash generation characteristics. The investment thesis centers on Clevertech's positioned leadership in packaging automation—a sector benefiting from secular trends toward manufacturing efficiency and automation adoption. CVC's capital, combined with the company's existing operational excellence and market position, is expected to accelerate the company's geographic expansion, fund technological innovation, and reinforce its competitive standing in target markets.
Management continuity has been preserved as a cornerstone of the transaction. Founder Giuseppe Reggiani remains Chairman and Chief Executive Officer, with the existing leadership structure intact: Umberto Reggiani continues as Chief Sales Director, Enrico Reggiani as Chief Financial Director, and Simone Cervi as Chief Technology Officer. This management stability positions Clevertech to execute its growth strategy without operational disruption while CVC provides capital and strategic resources to unlock the company's expansion potential.
Clevertech represents a compelling acquisition target within the industrial automation sector. Founded in 1987 and headquartered in Cadelbosco di Sopra in Italy's renowned "Packaging Valley" region, the company operates as a global partner in designing and manufacturing advanced industrial automated packaging systems. The company's financial profile underscores its operational strength: 2025 revenues reached €236 million with EBITDA exceeding €70 million, supported by a workforce of over 450 specialized professionals. The company maintains an international presence, delivering Italian engineering expertise to sophisticated markets worldwide.
The transaction reflects CVC's continued investment strategy focused on established European industrial businesses with global reach and strong cash generation characteristics. The investment thesis centers on Clevertech's positioned leadership in packaging automation—a sector benefiting from secular trends toward manufacturing efficiency and automation adoption. CVC's capital, combined with the company's existing operational excellence and market position, is expected to accelerate the company's geographic expansion, fund technological innovation, and reinforce its competitive standing in target markets.
Management continuity has been preserved as a cornerstone of the transaction. Founder Giuseppe Reggiani remains Chairman and Chief Executive Officer, with the existing leadership structure intact: Umberto Reggiani continues as Chief Sales Director, Enrico Reggiani as Chief Financial Director, and Simone Cervi as Chief Technology Officer. This management stability positions Clevertech to execute its growth strategy without operational disruption while CVC provides capital and strategic resources to unlock the company's expansion potential.
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