Ferretti Group and Sanlorenzo announce the creation of a 50/50 Joint Venture NewCo to take over Perini Navi, declared bankrupt by the Court of Lucca on January 29.
Through the NewCo, Ferretti Group and Sanlorenzo have shown interest in formulating a bid that entails the acquisition of Perini Navi’s Italian brands, assets and operations, also through a preliminary business branch lease, in order to foster a smoother and quicker recovery of production and to maintain employment levels.
Alberto Galassi, Ferretti Group CEO said “This is an important day for the Italian yachting industry, for the employees of Perini Navi and for their families, ensuring in this way that their passion, experience and unique skills will continue to be protected. As will the Perini Navi supply chain, which is made up of numerous suppliers who will be reassured and whose peace of mind will be restored by today’s safeguards”.
“At Ferretti Group we are always on the lookout for excellence and capabilities to integrate with our own. And often we find them in Italy, as is the case today. We are confident our commitment will translate into further growth that benefits the local area and raises the profile of the Italian yacht industry still further. I would also like to emphasise the historical importance of the alliance with Sanlorenzo, reflecting the new spirit of collaboration sweeping through Italy: a positive broadening of our horizons that will let us seize even more opportunities and deliver even more success”.
Massimo Perotti, Sanlorenzo Executive Chairman commented “I began my professional career in the yacht industry in Viareggio, in the same place and year in which Perini Navi was starting life a short distance away. That was back in 1983 and since then I’ve always had great admiration for the business model adopted by this remarkable brand: boats with outstanding qualities, built exclusively to order for a limited number of expert owners and connoisseurs. These are the same unique features I found years later in Sanlorenzo.
Because of these similarities and with a strong determination to rescue an Italian brand with an unparalleled history, in the interests of the local area, all stakeholders and first and foremost employees and suppliers, I have from the outset confirmed the willingness of Sanlorenzo to contribute to the brand’s relaunch. Today I am pleased to be able to do so jointly with Ferretti Group. It is an alliance of historic importance for our industry, one which I am convinced will continue to develop and set an example for other initiatives aimed at strengthening our world leadership in this sector”.
Credit: Ferretti Group