PRESS RELEASE – Trieste/London, 22 May 2015
Fincantieri has signed an agreement for the acquisition of a minority stake via capital injection in Camper & Nicholsons International (Camper & Nicholsons), the world leading authority in all luxury yachting activities.
The agreement includes the possibility for Fincantieri to increase subsequently its share capital in Camper & Nicholsons.
The investment consolidates the presence of both companies in the larger yacht segment and confirms Fincantieri’s strategic interest in an area in which it has devoted substantial resources and achieved significant results since creation of the group’s specialty division, Fincantieri Yachts. Drawing on Fincantieri’s 230 years of expertise in shipbuilding, Fincantieri’s yacht division offers unparalleled levels of design, styling and quality in the build of megayachts.
Fincantieri and Camper & Nicholsons have already established an excellent relationship through the build of two megayachts, including the 134-metre Serene and the 140-metre Ocean Victory. Delivered in 2011 and 2014 respectively, M/Y Serene and M/Y Ocean Victory are representative among the most innovative and technologically advanced megayachts ever built.
With the investment in Camper & Nicholsons, Fincantieri aims to strengthen its leadership in the new build sector.
Fincantieri’s CEO, Giuseppe Bono, stated: “Acquiring a stake in a company of Camper & Nicholson caliber has a significant strategic value. From today we are among the first shipbuilders to directly oversee the promising megayachts market segment. Our presence will cover the entire range of activities typical for this business, from sales and marketing to life cycle management of these very special units. This partnership will allow us to extend our skills and therefore to further strengthen our role in a segment which guarantees attractive margins”.
Gualtiero Giori, Executive Chairman of Camper & Nicholsons International, added: “In only nine months of ownership, we went on to acquire the Camper & Nicholsons brand and are now delighted to welcome such a strong investment partner, as Fincantieri. Both companies share similarly long and proud histories yet remain leaders in our respective sectors today. We look forward to their support in taking Camper & Nicholsons to even greater heights of success in the years to come”.
Fincantieri is one of the world’s largest shipbuilding groups and number one by diversification and presence in all high value-added market sectors, having built more than 7,000 vessels in over 230 years of its maritime history. It is world leader in cruise ship construction and a reference player in other sectors, from naval vessels to cruise ferries, from megayachts to special high value-added vessels, from ship repairs and conversions to offshore vessels.
Headquartered in Trieste (Italy), the Group has approximately 21,900 employees, of whom around 7,700 are based in Italy, and 21 shipyards in four continents. In 2013 the Group acquired VARD, a company listed on the Singapore Stock Exchange that builds offshore support vessels for oil and gas exploration and production. Fincantieri has doubled in size to become the West’s leading shipbuilder. Fincantieri operates in the United States through its subsidiary Fincantieri Marine Group (FMG). This company, which serves important government customers, including the U.S. Navy and Coast Guard, has three shipyards (Marinette Marine, Bay Shipbuilding, Ace Marine), all located in the Great Lakes region. Fincantieri is present in the UAE with Etihad Ship Building, a joint venture set up with Al Fattan Ship Industries and Melara Middle East, to design and build different types of civilian and military ships as well as providing maintenance and refitting facilities.
ABOUT FINCANTIERI YACHTS
Fincantieri Yachts is the Group’s business unit devoted specifically to luxury vessels with the focus on megayachts of over 80 metres. From the very outset the unit has been able to draw on a team of in-house experts tasked with the design and construction of top-of-the-range yachts. Construction is carried out at the shipyard of Muggiano (La Spezia), a high tech shipyard specialising in the build of complex vessels, including megayachts, naval surface vessels and submarines. It was the Muggiano yard that built the Blue Riband winner, the “Destriero”.
ABOUT CAMPER & NICHOLSONS INTERNATIONAL
Camper & Nicholsons is the global leader in all luxury yachting activities. With a history stretching back over five generations, a worldwide network of offices, and first-rate experience in every aspect of the luxury yachting industry, Camper & Nicholsons is the undisputed authority when it comes to meeting the needs of anyone interested in buying, selling, building, owning, or chartering a superyacht. Their team of dedicated sales and charter brokers, yacht managers and staff all share a passion for being at sea and possess a range of experience and unrivalled knowledge of the industry.
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CAMPER & NICHOLSONS INTERNATIONAL Media Relations