SuperyachtNews.com - Business - Cantieri di Pisa acquired by Alfagomma Group

By SuperyachtNews

Cantieri di Pisa acquired by Alfagomma Group

The acquisition was made particularly attractive by amendments made to the facility's previous concession…

Cantieri di Pisa has been acquired by Alfagomma Group, a market leader in the production of systems for industrial and hydraulic fluids. The acquisition of Cantieri di Pisa represents the business’ first venture in the superyacht sector. The agreement was reached with the previous owners Sea-Finance in recent weeks and finalised in front of the relevant authorities on Monday 3 May. According to various reports, the purchase price was around €2.5m.

There had been much discussion to date about the possibility of Tankoa acquiring Cantieri di Pisa, with the shipyard having begun the administrative process of buying the yard in January 2021. However, it is understood that, while an agreement has been reached, Philippe Bacou, owner of Yotha and one of Sea-Finance’s primary investors, inserted a binding condition to keep employment levels unchanged and guarantee the production site would remain in Pisa. It appears that these conditions were a deal-breaker for Tankoa.

It is expected that the business plan to re-launch the Cantieri di Pisa brand will be announced in the coming weeks. However, it is understood that all of Cantieri di Pisa’s employees are safe and that production is nearing commencement once again.

Among the factors that made the acquisition of Cantieri di Pisa an attractive option for Alfagomma was the fact that, through the relevant Pisan authorities, a revision of the facilities concession fees (almost halved) and length significantly reduced the fees due by the business. Equally, by extending the concession to 2040, the authorities have laid the foundation for the business's long-term growth and prosperity.

Join the discussion

Cantieri di Pisa acquired by Alfagomma Group

32310

To post comments please Sign in or Register

When commenting please follow our house rules


Click here to become part of The Superyacht Group community, and join us in our mission to make this industry accessible to all, and prosperous for the long-term. We are offering access to the superyacht industry‚Äôs most comprehensive and longstanding archive of business-critical information, as well as a comprehensive, real-time superyacht fleet database, for just £10 per month, because we are One Industry with One Mission. Sign up here.

Related news

Image for Has yachting become too rational?

Has yachting become too rational?

When did superyachting luxury become about homogenisation and volume?

Owner

Image for Leading insurers back advanced tow protection

Leading insurers back advanced tow protection

With tender losses accounting for one in three claims, leading insurers are backing preventative technology   

Business

Image for Nobiskrug open for investment

Nobiskrug open for investment

The search for an investor for the insolvent Nobiskrug shipyard in Rendsburg has entered a new phase

Business

Image for Trust, respect and communication

Trust, respect and communication

Amico & Co explores best practice throughout the refit process, focussing on skill, knowledge and management

Business

Image for MB92 Barcelona collaborates with the Seabin Project

MB92 Barcelona collaborates with the Seabin Project

Successful first year of collaboration sees the removal of the equivalent of 65,000 33cl plastic bottles

Business

Image for GYG publishes audited financial results for 2020

GYG publishes audited financial results for 2020

Despite a decrease in revenue caused by the COVID-19, improved efficiencies throughout the group have resulted in an improved adjusted EBITDA position

Business

Sign up to the SuperyachtNews Bulletin

The SuperyachtNews App

Follow us on