Maltese Falcon SuperYacht Ibiza

Photo of the superyacht Maltese Falcon in Ibiza by Steve Jurvetson, Via Flikr. Attribution CC 2.0 Generic

Private Equity Bails Out Famed Italian Superyacht Yard

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April 28, 2021

by Cristina Carlevaro (Reuters) – Perini Navi majority shareholder Fenix said on Tuesday it had signed a binding agreement with private equity firm Clessidra and another investor to relaunch the Italian luxury yacht maker.

Yacht makers Ferretti Group and Sanlorenzo had expressed in February an interest in buying Perini Navi, which makes large luxurious boats and was declared bankrupt by an Italian court on Jan. 29.

Fenix, the holding company of the Tabacchi family, which was once the controlling shareholder of eyewear group Safilo , said it aimed to carry out a “significant” capital increase to revamp the company, keeping a minority stake in Perini.

Clessidra and another unnamed Italian investor, which the statement said is active in corporate restructuring, will hold the majority stake in Perini, famous for its Maltese Falcon, an 88-metre yacht originally owned by famed venture capitalist Tom Perkins.

“The objective is to preserve Italian excellence and Perini Navi’s world leadership in sailing yachts above 40 metres in length, with clear benefits for all the company’s creditors and stakeholders,” the statement said.

The deal aims to keep full production continuity and current employment levels, it added.

Related Book: The Billionaire and the Mechanic: How Larry Ellison and a Car Mechanic Teamed up to Win Sailing’s Greatest Race by Julian Guthrie

(Reporting by Cristina Carlevaro and Valentina Za, editing by Ed Osmond, Reuters)

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