Investment Focus

What we look for
in a business

CS Holding targets a precise profile: a profitable, established SME in Northern Italy with strong fundamentals, a motivated seller, and meaningful growth potential, acquired together with our fund partners. CS Holding leads governance and operations.

Acquisition Profile

Acquisition Criteria

We focus on a clearly defined profile. Every acquisition must meet strong financial, operational, and strategic standards.

Financial Profile

Criterion Core Focus Opportunistic Range
Revenue €30-€100 million —
EBITDA €3-€25 million —
EBITDA Margin >10% —
Revenue model Recurring or contracted preferred —
Capital intensity Capex-light preferred —
Customer base Diversified, low concentration risk —

Business Profile

Dimension Description
Ownership Founder or family-controlled; motivated seller (succession, retirement, or strategic divestiture)
Employees 50-249 employees (SME definition); established team with institutional potential
Market position Established niche leadership or defensible product/service competencies
Growth potential Prospects for top-line growth and margin expansion, organic and through M&A
Digitalisation Operational technology stack with room to professionalise and modernise
ESG readiness Governance framework improvable within 120 days of acquisition
Geography

Where We Invest

Our geographic focus is the industrial heartland of Northern Italy, home to approximately 70% of Italy's target companies in our two sectors.

Primary Focus

Northern Italy: Industrial Districts

Our search is concentrated on Italy's top industrial regions, each with distinctive specialisations:

  • Lombardy: Milan hinterland, Brescia, Bergamo, Como. Technology, metalworking, industrial equipment.
  • Emilia-Romagna: Bologna, Modena, Parma. Packaging machinery, automotive engineering, food processing.
  • Veneto: Vicenza, Treviso. Precision manufacturing, industrial machinery.
  • Piemonte: Turin corridor. Automotive supply chain, advanced manufacturing.
Target Sectors

Industrial Automation & Digital Business Solutions

Sector 1

Industrial Automation

Italy's leading export industry. Driven by global factory automation trends, Industry 4.0, IoT, and supply chain digitalisation.

What We Look For

  • Factory Automation Assembly, packaging machinery, machining, quality control systems, robotics, and inspection instruments.
  • Supply Chain Automation Inbound and outbound logistics automation, track-and-trace, warehouse management solutions.
  • After-Sales & Servitisation Companies with recurring revenue from maintenance, spare parts, and service contracts. particularly attractive profile.
  • Smart Factory Solutions IoT integration, AI-enabled production, custom automation for manufacturing and packaging challenges.
Sector 2

Digital Business Solutions Providers

Technology-enabled B2B services enabling efficiency, compliance, and digitalisation across Italian and European businesses.

What We Look For

  • SaaS Platforms Software-as-a-service solutions with recurring revenue, low churn, and B2B customer lock-in.
  • Compliance & Regulatory Tech E-invoicing, electronic signatures, e-identity verification, EU regulation compliance tools.
  • Operations & Process Digitalisation CRM, ERP integration, data analytics, back-office automation, and supply chain digitalisation.
  • Industry 4.0 Enablers IoT platforms, augmented intelligence applications, robotic process automation serving B2B clients.
Send an Opportunity

Know a business that fits?

Introductions are welcome from founders, advisors, brokers, and intermediaries. All conversations are treated with full confidentiality.

Get in Touch