SANLORENZO AND FERRETTI GROUP JOIN FORCES TO SAVE PERINI NAVI
By: Beatrice Chiardi
February 25th, 2021
A joint venture took place between two colossal yacht builders, Sanlorenzo and Ferretti Group, in order to take over Perini Navi, which was declared bankrupt by the Corte of Lucca on January 2021.
Following the public announcement of Perini Navi’s extreme economical difficulties leading to failure, many companies, including the Italian Sea and Palumbo Superyacht, expressed their concrete interest in acquiring the internationally renowned Italian sailing yacht builder’s assets and maintain the functioning of employment. Other yachting entities were highly interested in the deal, until the 15th February 2021 when Ferretti Group and Sanlorenzo formed a joint venture to take over Perini Navi’s brand, assets, and operations. Their aim, following a first preliminary business analysis, is to quickly recover production and maintain employment levels stable.
By joining forces Ferretti Group and Sanlorenzo, avoid competing against each other. For this reason they clearly stated and divided their professional interests: Sanlorenzo has declared interest in the Perini Navi sailing division and headquarters in Viareggio, while Ferretti Group was more oriented on the facility in La Spezia.
“This is an important date for the Italian nautical sector and for employees and families of Perini Navi. Passion, experience and unique expertise… will now continue to be protected, as well as the related activities of Perini Navi, which are now safeguarded, composed of numerous suppliers who can now rest easy,” explained Mr. Alberto Galassi, CEO of Ferretti Group.
Ferretti Group has often seen concrete opportunities in Italy, as we can see by the recent acquisition of the Wally brand – first jump into the sailing world. “We are certain that our commitment will translate into further growth, with benefits impacting the local areas and increased success for the Italian nautical sector,” commented Mr. Galassi. “I would also like to point out the historical importance of this alliance with Sanlorenzo, in line with the new spirit of cooperation that is infusing our country: a beneficial opening of new horizons, which will enable us to seize even more opportunities and ensure greater success,” he concluded.
Furthermore, Perini Navi holds important memories for Massimo Perotti, Executive Chairman of Sanlorenzo. He started his professional career in the nautical sector in Viareggio, specifically in the place and year when Perini Navi was created nearby. From the start, he strongly admired Perini Navi’s business model, which focused on the right combination between expertise, high quality, and made-to-measure projects.
Later on he found these same and unique characteristics in Sanlorenzo. For this reason, accompanied to a strong interior determination of saving an Italian brand with unrivalled history, Mr. Perotti is more than even motivated and convinced of this new relaunch with the support and help of all stakeholders, employees and suppliers.
Regarding this big step committed by the yachting sector, only time can give us the answer. In the meanwhile, we are fully positive and convinced about Sanlorenzo and Ferretti Group qualities, performance, and experience. No doubt that this union and synergy will lead to outstanding results.