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.
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