Perini Navi is renowned for building large sailing yachts

The Italian Sea Group (TISG), through its subsidiary New Sail s.r.l, has acquired Perini Navi for €80 million (US$90.5 million) after winning an auction held by Lucca Court. Based in Carrara, TISG owns the Admiral and Tecnomar brands as well as NCA Refit, a refit and repair division that has worked on many Perini Navi yachts.

TISG will acquire Perini Navi’s shipyards in Viareggio and La Spezia, one yacht under construction (Project 2369), trademarks and patents, the social participation of Perini Navi USA, and existing contracts with employees and third parties.

TISG already owns Admiral, Tecnomar and NCA Refit

The Group will finance the operation through cash availability, re-investing a significant portion of IPO proceeds collected at the beginning of June, as well as bank funding lines.

Giovanni Costantino, founder and CEO of The Italian Sea Group, said: “I am very proud of this operation. We wanted to push forward with the investment, but we have approached the auction with absolute determination to acquire all the assets considering our consolidated competence and the new contracts, in particular in the segment of large sailing yachts.

“The new production spaces will allow us to increase incoming orders for the future in a very dynamic segment, as proven by the two orders for sailing yachts that we signed in December. We are therefore confident to have made the right decision, driven by an incoming order that has exceeded expectations by 50 per cent.”
www.theitalianseagroup.com
www.perininavi.it