Ferretti Group & Sanlorenzo's Joint Venture to Rescue Perini Navi

By Jenna Mehdi

Ferretti Group and Sanlorenzo have announced a 50-50 joint venture to rescue Perini Navi from bankruptcy. The new organisation, created under the name NewCo, will seek to acquire the trademarks, assets and Italian operations of the renowned Perini Navi shipyard, who were officially declared bankrupt by the Lucca Court at the end of last month.

As the fight to save Perini Navi wages on, Ferretti Group and Sanlorenzo become the latest in a number of major yachting players to announce a bid for the brand. The two have confirmed that NewCo will look to acquire the assets and operations of Perini Navi, possibly through the establishment of a business unit lease agreement to ensure a swift transition with minimal impact to production and employees. 

Ferretti Group CEO Alberto Galassi commented in a statement:

'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,” said Ferretti Group CEO Alberto Galassi. “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.' 

Ferretti Group kicked off 2021 by releasing its first corporate strategy for sustainable growth and development. One major factor of this was to stimulate local economic growth, an agenda in line with the Italian shipbuilding giants’ latest move. 

Galassi went on to highlight the historical importance of Ferretti Group’s relations with Sanlorenzo, another huge player in the Italian yachting landscape. He touched on ‘the new spirit of collaboration sweeping through Italy’ as a driving force behind the rescue effort. 

In the wake of a devastating year not just for Italy but the world at large, it is refreshing to see major players in yachting collaborating in the effort to save this pivotal brand. 

The news comes shortly after Palumbo Superyachts, major Italian shipbuilding network comprising brands ISA Yachts, Extra, Columbus Yachts, Mondomarine and Palumbo SY Refit, announced it will also be considering the acquisition.

 

"This is an important day for the Italian yachting industry, for the employees of Perini Navi and for their families."

Ferretti Group CEO Alberto Galassi.

"This is an important day for the Italian yachting industry, for the employees of Perini Navi and for their families."

Ferretti Group CEO Alberto Galassi.
By Jenna Mehdi
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