Sanlorenzo Backs Bid to Acquire The Italian Sea Group's Business Operations

Sanlorenzo has announced its support for the proposed acquisition of the entire business undertaking of The Italian Sea Group (TISG), joining an industrial initiative aimed at preserving employment, safeguarding strategic know-how and ensuring the continuity of one of Italy's most significant yacht-building hubs.

The expression of interest and secured offer were submitted by Riccardo Cima on behalf of the promoters of Polo Nautico Carrara S.r.l. (PNC), a company currently being incorporated under Italian law. The consortium has been established with the objective of maintaining shipbuilding and refit activities in the Carrara area while supporting the local supply chain and protecting industrial expertise.

According to the promoters, 10% of PNC's share capital will be held by a company established by Riccardo Cima together with a group of suppliers, while the remaining 90% is expected to be owned by two or three internationally recognised shipyards, with negotiations already at an advanced stage.

As part of the initiative, Sanlorenzo confirmed its intention to acquire a minority stake in PNC and issued a letter of patronage supporting the consortium's participation in the competitive sale process. The commitment covers up to 10% of the purchase price as security for the obligations undertaken by the bidder.

The offer covers the entirety of TISG's operating business, excluding existing debts and receivables. The continuation and completion of yachts currently under construction would be subject to direct negotiations with their respective owners.

The proposal follows TISG's application to enter insolvency proceedings under the Italian Crisis and Insolvency Code. Its effectiveness remains subject to a satisfactory due diligence process, the launch of the competitive sale procedure and the fulfilment of the conditions set out in the offer.

Commenting on the initiative, Sanlorenzo Executive Chairman Massimo Perotti stated that the company believes the role of an industry leader extends beyond generating economic value. He emphasised the importance of protecting jobs, preserving specialised expertise and ensuring the continuity of manufacturing activities that are essential to the local industrial ecosystem. He added that Sanlorenzo intends to contribute its industrial strength, technical expertise and long-term vision to help reinforce the Carrara yacht-building district and promote Italian craftsmanship on the global stage.

Sanlorenzo also clarified that the offer is not binding on either The Italian Sea Group or the judicial authorities overseeing the proceedings. The company confirmed that it will keep the market informed of any material developments in accordance with applicable regulations.

The initiative highlights Sanlorenzo's commitment to supporting the long-term strength of the Italian yachting industry, reinforcing collaboration between leading shipyards while safeguarding one of the country's most important centres of excellence in luxury yacht construction.