Viaemilia Investments is focusing on the growth of SMEs in Motor Valley
The private equity holding company set up by Cherry Bay Capital and Dallara has already raised 50 million and aims to exceed 100 million. First investment in Bercella
Motor Valley is also giving the finance sector a boost. Not to invest in the major brands that have made it world-famous, but in the small and medium-sized enterprises that fuel its technology and are seeking resources to grow. It is with this ambition that Viaemilia Investments, a private equity holding company promoted by Cherry Bay Capital and Dallara of Varano de’ Melegari, has been launched. The company has already raised 50 million euros, aims to exceed 100 million in the coming years and is now making its debut with a first investment of 10 million in Bercella, a Parma-based specialist in carbon fibre structures for motorsport and aerospace.
The new company is 70 per cent owned by Cherry Bay and 30 per cent by Dallara. The former will provide capital, financial expertise and governance; the latter will contribute specialist knowledge and industry connections. As confirmed by Mattia Rossi, managing director of Cherry Bay Capital and Viaemilia Investments, the project is, amongst other things, open to other key players in the region. “Discussions are underway that we cannot yet disclose,” explains Mattia Rossi.
The choice of target market is no coincidence. According to research by Nomisma for the Motor Valley Association, the supply chain of the six leading companies comprises around 15,000 direct suppliers and 647,000 employees; exports account for nearly 52 per cent. In 2024, with around 34,000 vehicles produced, the sector generated over 10.5 billion in revenue. And 43 per cent of SMEs are still led by the first or second generation of founders: technology companies grappling with growth and succession.
“SMEs need to grow alongside the large companies that lead the supply chain: structuring the small ones means providing certainty for the large ones,” observes Rossi. The holding company’s short-term objective is to carry out a couple of transactions a year, seeking out companies with turnover of up to 50 million, good profitability and leadership positions in niche sectors such as composites, critical components, powertrains, software and artificial intelligence. The capital will be used to support acquisitions, international expansion and market entry in the aerospace, medical, energy and marine sectors, whilst leaving entrepreneurs in charge of running their companies. “The value we are seeking lies at the heart of the supply chain, not in major brands or raw materials,” emphasises Rossi, drawing on the experience gained with Poggipolini.
The first test bed is Bercella , founded in 1996 in Varano de’ Melegari following an idea by Franco Bercella, a manufacturer of composite ultralight aircraft. Today, with over 180 employees, it has produced more than 100,000 components and 2,000 chassis for racing, from IndyCar to Le Mans, and also works in the space sector: it has contributed to the Rosetta and ExoMars missions and to the Iride constellation. In 2026, the Italian Space Agency awarded it a contract worth approximately 3.5 million for composite optical benches. Under the deal, Viaemilia will hold a 30 per cent stake, whilst the family retains 70 per cent. Of the 10 million invested, 8 million will go directly into the company via a capital increase and 2 million will be used to purchase existing shares.
