Genoa-based Finsea acquires 60% of the shipping company specializing in sailing boats
The Giuseppe Pierucci company of Livorno recently took care of the transfer and loading in La Spezia of the new Persico Cat 72' foiling catamaran
The Finsea Group of the Negri family, in addition to having acquired from Arcelor Mittal the purchase of the business unit relating to port and land logistics activities for the related steel products, has just made another acquisition in Livorno in the shipping business with a particular focus on the nautical sector.
According to SUPER YACHT 24, the company led by CEO Aldo Negri signed the purchase agreement for a 30% stake in Giuseppe Pierucci Srl from Carlo Laviosa Srl for €180 on January 30. This sale comes exactly one year after the first transaction, which saw Laviosa and Finsea acquire a 30% stake each (for approximately €130, respectively) in the shipping and maritime agency company, previously controlled and led by Massimo and Fabrizio Pierucci.
Last year it was the Genoese group that revealed the entry "into the corporate structure of Giuseppe Pierucci, a Livorno-based operator specializing in logistics services for the sailing sector, today the official logistics provider of the Luna Rossa – Prada Pirelli Team and the Italian Sailing Federation.
The Livorno-based shipping company was the protagonist in the last few days of the shipment, through the Terminal del Golfo (Tarros Group) to the port of La Spezia, of the brand new foiling catamaran Perch Cat 72' Built by the Persico Marine shipyard and expected at American Magic's base in Pensacola, Florida, where the America's Cup team will conduct its first sea trials. The racing boat is currently traveling aboard the Idunn, which will dock in Pensacola on February 12th.
Before being spun off into a dedicated new company (pre-sale at the beginning of 2024), the Giuseppe Pierucci shipping company's 2023 results showed revenue of approximately €92 and an EBITDA of nearly €30. A year earlier, revenue had been €637, while the profit margin had barely exceeded €21. In 2020, revenue had been €1,6 million, compared with an EBITDA of €356.
Regarding foreseeable synergies, Finsea is the general agent in Italy for the shipping company Dyt Yacht Transport, specializing in yacht transport, but is also a shareholder of the Genova Industrie Navali group, which, through San Giorgio del Porto, also has a significant shareholding in the Sangiorgio Marine shipyard, specializing in the construction and refit of high-performance racing and fast cruising vessels.
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