The Italian Sea Group has announced the acquisition of 100% of the shares of Celi, a fine furniture company. The integration of Celi into TISG, with its valuable experience and production capacity, will guarantee the company further growth of its in-house know-how, aligning with its strategy of internalizing production chain activities with greater added value.
The acquisition of Celi will allow TISG to increase control over the timing and quality of its activities while managing costs and budgets. Celi's competencies and production capacity, combined with TISG's brand and commercial activities, will provide the company with opportunities to expand its business into other industries, such as high-end real estate and luxury hospitality sectors.
Life Saga
Celi's history dates back to 1920 when it began as a workshop specializing in furnishings for public buildings, religious institutions, and colleges in Terni. The company devoted itself to the production of luxury furniture after World War II and collaborated with architects, engineers, and designers on the international scene. The woodworking culture of Celi established itself as a leader in the yachting industry, and the company's expert craftsmanship and innovative design skills have been harnessed entirely in 3D for the creation of interiors for yachting.
TISG has been working with Celi since 2016 to create furnishings and fittings for some of the company's most important yachts, such as the 65m Life Saga, the 55m Geco, and the 75m Kensho.
According to Giovanni Costantino, Founder & CEO of The Italian Sea Group, "Celi is undeniably one of the most important companies for custom furniture in Italy and around the world, and its transversal competencies are a great strategic opportunity for TISG." He further stated that the production organization of Celi, combined with TISG's international commercial skills and knowledge, will offer new opportunities for solid and secure growth for the group, also in the field of high-end real estate and luxury hospitality worldwide.
Kenshō
TISG plans to make investments aimed at doubling Celi's production capacity as early as 2024, in anticipation of significant business growth opportunities. The acquisition represents the first step of the new "TISG NEW ERA'' expansion project, which includes the further expansion of offices in the Marina di Carrara Headquarters, creating an innovative and complete experience of the TISG world dedicated to Shipowners. The redevelopment of the Celi brand and its production areas located in Terni will add value to the territory and the city, aligned with TISG's sustainability values.
The Italian Sea Group is a global operator in the luxury yachting industry, listed on Euronext Milan (“EXM”) and active in the construction and refit of motor yachts and sailing yachts up to 140 meters. The Company, led by Italian entrepreneur Giovanni Costantino, operates on the market with the brands Admiral, renown for elegant and prestigious yachts, Tecnomar, Perini Navi, and Picchiotti; the Company has a business unit, NCA Refit, that manages the maintenance and refit services for yachts and mega yachts with a length over 60 meters.
Credits: The Italian Sea Group