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Wise Equity announces majority stake in Absolute Yachts
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- June 27, 2024
- 1:25 pm
Wise Equity’s funding will support new growth for Absolute, the Italian manufacturer of luxury motoryachts.
Absolute has built its success on navetta, flybridge and coupé yachts
Wise Equity has announced it will acquire a majority stake in Absolute, the northern Italy-based shipbuilder. The investment, which will be made via its Wisequity VI fund, will assist with the Italian manufacturer’s plans for growth and development.
With the agreement, Wisequity V1 will acquire a major stake in the luxury-yacht maker.
Absolute, founded in 2002 by Sergio Maggi and Marcello Bè, is a leading manufacturer of navetta, flybridge and coupé yachts from 47 to 75ft. All yachts are currently made in-house at its production plant in Piacenza.
The manufacturer has seen increasing growth and expects to close out this financial year in August with more than €110 million in revenue. It says of that sum, about 90 per cent was made abroad. The manufacturer, which has a sales subsidiary in the United States, operates in more than 30 countries.
The deal will support the Italian shipbuilder’s continued growth
The transaction involves the acquisition of a majority stake by Wisequity VI and its co-investors, the significant reinvestment of the majority of the existing shareholders and the presence of Angelo Gobbi as Absolute’s Honorary Chairman, to ensure the manufacturer’s strategic and managerial continuity.
Gobbi was jovial about the investment. “Absolute’s motto is: ‘he who hesitates, is lost!’” he said following the announcement. “That is why for some time now we have been reflecting on the future of Absolute. We must continue to evolve, as we have always done.”
Angelo Gobbi, current President of Absolute takes an Honorary Chairman role going forward
Wise Equity, he said, was an ideal partner to strengthen and support the manufacturer through its next phase of growth.
Wise Equity SGR manages closed-end investment funds that invest in small and medium-sized companies, with a special focus on Italy. It currently has three funds under management. Wisequity VI was launched in May 2023 with a total commitment of €400 million. The Absolute deal is its fourth investment.
