CDP Equity buys majority stake in T-Defence, eyes two more Italian defence takeovers
What's the deal? Italy's state lender CDP plans to expand further in the country's defence sector and is studying two takeovers after agreeing in late July 2026 to buy a majority stake in security firm T-DefenceDealroom has a profile for this one. Try Dealroom →, sources told Reuters.
The details: CDP Equity, the investment arm of Cassa Depositi e Prestiti, approved the acquisition of an 85.5% stake in T-Defence from the Tinexta groupDealroom has a profile for this one. Try Dealroom →. CDP Equity chief executive Fabio Barchiesi plans to complete the deal soon and use T-Defence to take control of two additional defence firms.
What's the endgame? CDP Equity will use T-Defence to strengthen the Italian defence supply chain and drive consolidation, the sources said. The CDP group's broader role is keeping strategic assets in national hands; its portfolio includes energy group EniDealroom has a profile for this one. Try Dealroom →, motorway operator Autostrade per l'ItaliaDealroom has a profile for this one. Try Dealroom →, and shipbuilder FincantieriDealroom has a profile for this one. Try Dealroom →.
The target: T-Defence designs advanced technology for the defence, space, and national security sectors. It posted revenue of €41 million in 2025.
Why now? The deals come as the European Union pushes to boost the bloc's defence capabilities and help member states meet more ambitious NATO spending targets.
The backdrop: Tinexta placed T-Defence under a trust ahead of the sale, a condition Italy imposed to clear a takeover of the holding company by equity firms AdventDealroom has a profile for this one. Try Dealroom → and NextaliaDealroom has a profile for this one. Try Dealroom →. Italy holds golden powers letting it set terms for any deal affecting strategic sectors such as defence.
The wider picture: CDP has been active beyond defence, investing around €1 billion for a 23.5% stake in Angelini PharmaDealroom has a profile for this one. Try Dealroom → through a capital hike, helping the group complete its $4.1 billion acquisition of US rare-disease drug maker Catalyst PharmaceuticalsDealroom has a profile for this one. Try Dealroom →.
The signal: A state-backed lender leading defence consolidation shows how European governments are moving to secure strategic industries as the region races to rearm.
Read more: Reuters
