we receive e we publish the following Press release.
U-Power Group, a European leader in footwear and workwear, has signed a binding agreement to acquire 100% of CERVA Group, a leading European player in the personal protective equipment market.
Headquartered in Jeneč, just outside Prague, CERVA is one of Europe's leading suppliers of workwear and personal protective equipment. With over 30 years of experience, a strategic location in the heart of Europe, and a widespread distribution network, CERVA boasts a consolidated presence in Central and Eastern Europe and the Nordic countries. It employs 600 people and operates logistics hubs with a total area of nearly 100.000 m².
CERVA's extensive head-to-toe offering is supported by a portfolio of proprietary brands – including CERVA, OS, Panda, Litz, Vektor, Hygotrend, fridrich&fridrich, KIXX, Pride and Gloves Pro – which generate approximately 80% of revenue, supported by the distribution of leading international brands.
The transaction will create a leading pan-European group in the personal protective equipment sector, with combined revenues approaching €500 million, a commercial presence in over 60 markets, and one of the most comprehensive and recognized brand and product portfolios in the industry. The new entity will have highly diversified geographic coverage, with leading positions in Western, Central, Eastern Europe, and the Nordics, as well as a widespread distribution network and advanced logistics infrastructure.
The integration of two complementary platforms—U-Power, a leader in safety footwear with a strong presence in Italy, France, and Spain, and CERVA, a leading player in Central and Eastern Europe and Scandinavia with a wide range of head-to-toe products—will generate significant commercial and operational synergies. These synergies include accelerating the penetration of U-Power footwear in CERVA's key markets, developing new collections in categories such as gloves and workwear, and jointly optimizing production and logistics capabilities.
Thanks to its combined size, resources, and expertise, the new group will be able to sustain accelerated international growth, invest in research and development, innovation, and marketing, and fully seize the opportunities of a rapidly consolidating PPE sector, further strengthening its European leadership.
“This operation unites two excellent and complementary entities – commented Franco Uzzeni, founder and CEO of U-Power – creating a pan-European leader with an unmatched portfolio of brands and products. Together, we will be able to accelerate growth, enter new markets, and offer our customers an even more comprehensive and innovative offering, while keeping quality, safety, and sustainability at the forefront.”
"The merger between CERVA and U-Power represents a strategic step that opens up new development opportunities for both companies," added Alessio Masiero, Partner at Renaissance Partners, the private equity firm and U-Power's controlling shareholder. "The combination of our expertise, products, and distribution networks will allow us to offer even greater value to our customers across Europe."
The closing of the transaction is subject to certain conditions precedent, including antitrust approval and foreign investment (FDI) clearance, and is expected to occur in Q4 2025 / Q1 2026.
U-Power was assisted by Lazard as financial advisor, by Legance – Avvocati Associati as legal advisor, by PwC for accounting and tax aspects and by AlixPartners as commercial advisor.
U Power
Founded in 2006 and headquartered in Paruzzaro (NO), U-Power is a European leader in safety footwear and also operates in workwear. The group operates under the U-Power, Jallatte, and Aimont brands, serving over 10.000 specialized retailers in over 50 countries. U-Power is recognized for its Italian design, high-performance products, and commitment to ESG, with 100% carbon-neutral lines and an EcoVadis Gold rating (Top 5%).
Renaissance Partners
Renaissance Partners is an investment firm focused on mid-sized family-owned businesses primarily based in Italy. RP leverages its industry expertise and invests in four investment themes: information technology, sustainability, healthcare, and specialized industrials. Renaissance Partners manages over €3,4 billion and currently has 13 portfolio companies with aggregate revenues of approximately €6 billion..
