Renaissance in protective equipment

Investment group Renaissance Partners, through its Italian subsidiary U-Power, has acquired the Czech protective equipment manufacturer Cerva Group. The group had grown over the past 35 years from a local Czech company into a global business operating in 44 countries. The group offers more than 6,500 products – from work clothing and footwear to equipment for working at heights. Its annual revenues exceed 250 million euros, and its logistics centers cover a total area of over 100,000 square meters.

The new owner, U-Power, is Europe’s largest manufacturer of safety footwear and one of the leading players in the personal protective equipment sector. Together with Cerva, it will form a European market leader with annual revenues of more than 500 million euros and ebitda of around 100 million euros.

Renaissance Partners, an investment firm managing assets worth 2.8 billion euros, entered the protective equipment sector in 2023 when it acquired U-Power from its founder, who continues to lead the company as CEO. Cerva Group was previously owned by the Cypriot company FASTPATH Solutions Limited, which acquired it in 2022 from the Russian firm Vostok-Service.