May 2020 brought the interesting news of two of Italy’s most high-profile superyacht builders uniting together to merge their skills and resources.
It is reported that Italian company Sanlorenzo has acquired the sailing superyacht builder Perini Navi. As one of Italy’s largest superyacht builders, acquiring Perini Navi will make Sanlorenzo one of the leading superyacht builders in the world, while giving the Perini Navi brand some much needed financial stability.
It is believed that a new parent company will form with Sanlorenzo controlling around 70% of the shares, while investing a cool $33 million to finance the move with the Tabacchi family controlling the remaining 30% of shares, contributing $11 million into the new company.
Perini Navi is already a well-established name as superyacht builders. They have launched some famous superyachts such as the 289-foot Maltese Falcon and 197-foot Seven. Despite the company suffering from financial issues since the stock market crash, the iconic brand still holds a lot of love with its many dedicated fans and followers.
The company carries an order book valued at $176 million, with seven notable yacht building projects currently under construction.
It is no secret that the Sanlorenzo company has been busy expanding its operations over the past ten years. It is notable to know that the company have completed a total of 103 superyacht projects over the past decade, and before the recent pandemic, it was set to complete building 24 more yachts during 2020.
Because of Sanlorenzo’s aggressive growth plans, the company had its strongest financial year in history during 2019. After also acquiring the Bluegame brand in 2018, their net sales reached $500 million, which was up by 39.3 per cent from 2018.
Sanlorenzo has been looking to expand into building larger yachts and sees this as their future. This is very evident with their most recent launch of the 210-foot Attila superyacht, which is a fine example of the company expanding its operations into an ever-larger superyacht sector.
The future looks very promising for both the Sanlorenzo and Perini Navi brand. Sanlorenzo has stated it already has a very full order book with a backlog of orders they are catching up with that are valued at more than $549 million.
The Sanlorenzo range of superyachts come in different sizes from 40 to 70 meters in length. They represent a brand that has become a true icon, not only for their innovative designs and forward-thinking approach to their builds but also remembering to deliver designs that are well balanced with clean lines and great attention to fine detail.
Perini Navi will now start to focus on designing and building a different type of yacht for the superyacht sector. While the company is keen to reiterate that it will work to preserve their company’s well-established high-profile style and heritage, once the financial merger is complete it will be concentrating on delivering on their current order book builds to meet with their client’s high expectations.
This looks to be a good merger with mega yacht fans because both superyacht builders are well known for delivering often surprising and unique solutions based on their client’s needs, but also because they know that ultimately liveability is important. Their designs deliver the owner with the very highest quality of life on board.
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