Socage acquires majority share in CTE

Italian aerial lift manufacturer Socage has acquired a majority share of CTE. 

With both Italian manufacturers producing truck mounted platforms and spider lifts, Socage said it had consolidated its position in the market and its product offering with the buyout of a majority of CTE’s share capital.

From left: Giampaolo Piovan, Fiorenzo Flisi, Lorenzo Cipriani and Alessandro Flisi. (Image: Socage).

Fiorenzo Flisi, Socage’s CEO, added that CTE’s 40 years of experience in aerial lift production and distribution gave it strong know-how in the market, “Offering a solid range of products and solutions worldwide with high added value for its customers.

“We share the same values - CTE fits perfectly into our group,” Flisi added. 

Socage and CTE will continue to operate under their seperate brand names following the deal, and together, the companies under Socage’s management will have an estimated revenue of €190 million for 2026.

According to Flisi the investment represented a continuation of Socage’s strategy to strengthen its international presence in the aerial platforms market.

“CTE’s range of products and services are highly complementary to those of Socage, allowing for broader support to customers in Italy and internationally, thanks to its own sales and distribution network, which will continue to operate independently.”

Mutual benefits 

CTE has grown organically and through strategic acquisitions over the years, which Flisi said had significantly grown its market position. “We have also always focused on developing partnerships based on strong and stable relationships with customers and suppliers, creating a collaborative environment.”

Meanwhile, the deal also allows CTE to expand its product range and production capabilities through synergies with Socage that will, in turn, aid its distribution network, said the company.

Lorenzo Cipriani and Giampaolo Piovan, founders of CTE, said, “The same vision and goals have guided our dialogue and relationship with Socage. We greatly appreciate its proactive and customer-focused approach as a groundwork for further joint growth, both in Italy and internationally.”