Company: Ferretti Group
Business Type: Boat Builder
Ferretti Group, with its HQ in Forli, Italy, designs, builds and sells luxury yachts and leisure vessels, with brands including Ferretti Yachts, Riva, and Wally amongst others, as well as owning and managing six shipyards in Italy.
Masello Srl, based in Fano, is a company with extensive experience in wooden furniture for yachts and has recently launched an innovative onboard assembly service. Fratelli Canalicchio, based in Narni, specialises in static exteriors and automatic kinetic systems for yachts.
As of 2021, the combined revenues of the two companies will amount to approximately €13 million, according to Ferretti. The group estimates the two companies are expected to generate sales of approximately €30 million by 2025, following the integration.
The two transactions are said to be aimed at improving overall profitability and gaining even more control over the production and procurement phases.
Alberto Galassi, CEO of Ferretti Group, said:
“We have finalised these two transactions because the acquisition of control of a strategic supplier ensures stability and reliability, improves industrial performance and insourcing of expertise
“We are confident that the upstream integration will allow us to express even more quality and optimise costs and time.”
Ferretti Group has just launched the CRN M/Y Rio and the Riva 130’ Bellissima at the Monaco Boat Show.
The group’s Ancona superyacht shipyard currently has 15 yachts under construction for the CRN, Riva, Pershing and Custom Line brands. Two of the largest projects have already been sold: the 85-metre CRN M/Y 144 and the 70-metre CRN M/Y 145.
Last month, Ferretti released its financial results for H1 2022, posting double-digit net revenue and EBITDA growth for the period with an order backlog at €1.2 billion.
The group has also confirmed it will continue to use Rolls-Royce mtu engines until 2027, after the firms renewed an ongoing supply agreement.
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