Livingstone has acted as exclusive financial advisor to Cytech S.r.l. (”Cytech”), a leading international producer of protective gear for sportswear, in connection with the acquisition of a majority stake in Pasasport S.r.l. (”Pasasport”), an Italian manufacturer specializing in elasticated fabrics and accessories for cycling and other sports.
Headquartered in the province of Treviso, with two additional production facilities in Mexico and Croatia, Cytech is the global leader in the manufacture of protective components for sports apparel, with a focus on cycling pads and gloves. Since 2021, Cytech has been majority-owned by private equity firm PM & Partners, which has launched an ambitious growth strategy focused on innovation, international expansion, and selective M&A.
The acquisition of Pasasport—based in Villa Bartolomea (Verona) and active in the design and contract manufacturing of sportswear accessories such as gloves and shoe covers for cycling, skiing, running, and fitness—further consolidates Cytech’s leadership in the sector. The transaction is expected to create strong commercial and product synergies, accelerating the brand’s expansion into new markets and diversifying its product offering.
“Livingstone worked closely with Cytech’s management to define a target profile based on key strategic drivers. Following an extensive scouting process, Pasasport emerged as the ideal partner – located in the same industrial cluster, yet with a complementary international manufacturing footprint”, commented Luca Maccagnani Castelli, Managing Partner at Livingstone.
“The acquisition of Pasasport consolidates and enhances our market leadership, enabling us to offer our customers a more diversified range of services and products with greater added value.” said Massimo Fregonese, CEO of Cytech S.r.l. “The synergies in our business model, commercial and product development, along with complementary technological expertise, will accelerate Elastic Interface’s expansion into new markets and diversify our offerings in cycling and other sports. Additionally, this acquisition strengthens our international presence with production units across major continents”.
This transaction further confirms Livingstone’s strong track record in supporting ambitious companies in building competitive advantage through targeted acquisitions.
