The Italian Sea Group S.p.A. (TISG), a global player in luxury yachting, has finalized the sale of its Viareggio shipyard to Next Yacht Group for €21 million. The shipyard was acquired as part of the Perini Navi acquisition in 2021.
Due to its structural characteristics, the Viareggio shipyard was deemed unsuitable for the production of yachts over 50 meters, which is TISG’s primary focus. This segment accounts for approximately 90% of the company's current order book. According to Boat International’s ranking, TISG is the leading player in Italy and the third globally in this size range.
The disposal of the Viareggio shipyard is part of TISG's strategic plan to streamline operations and focus on custom-made mega and giga-yachts. In 2023, TISG also sold a building previously dedicated to Perini Navi offices for €12 million. With the recent sale of the shipyard, the total value of Perini Navi assets disposed by TISG amounts to €33 million.
Giovanni Costantino, Founder and CEO of TISG, expressed satisfaction with the transaction, highlighting its alignment with the company’s strategy to concentrate on large custom yachts. He also noted the positive impact on the local community and supply chain, as Next Yacht Group will resume activities at the historic Viareggio shipyard.
TISG and Perini Navi will continue to maintain a presence in Viareggio with their commercial flagship and woodworking hub, which opened last March in the heart of the port.
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.
Credit: Yacht Harbour Archive