on 28 Jul 2026
Sanlorenzo has confirmed it will take a minority stake in Polo Nautico Carrara, the consortium that has submitted a formal offer to acquire the entire business undertaking of The Italian Sea Group.
The Italian Sea Group (TISG), the Viareggio-based builder of Perini Navi and Admiral Yachts, is currently navigating insolvency proceedings, and the announcement confirms that Riccardo Cima, acting on behalf of Polo Nautico Carrara (PNC), has submitted an expression of interest backed by a security-supported offer for TISG’s business undertaking.
The offer, which also commits PNC to participate in any competitive sale process launched for the company, was lodged following TISG’s application for access to a crisis and insolvency resolution instrument under Italian law.
The consortium will hold a 10 per cent stake, with the remaining 90 per cent held by two or three shipyards of “international standing,” with discussions described as being at an advanced stage. Sanlorenzo has not disclosed the size of its planned stake but has issued a letter of patronage supporting PNC’s bid, covering up to 10 per cent of the purchase price as security for the offeror’s payment obligations.
The stated aims of the consortium are industrial rather than purely financial, and include safeguarding jobs, restarting production, supporting TISG’s supply chain, and keeping the shipyard sites and facilities used for refitting, haul-out and launching operations in the local area.
“We chose to take part in this transaction because we believe that the role of a leading company is measured not only by its ability to create economic value, but also by its responsibility to safeguard jobs, preserve strategic expertise and ensure the continuity of manufacturing activities that represent a vital asset for the local area,” says Massimo Perotti, Sanlorenzo’s Executive Chairman. “This is a commitment we have already demonstrated in tangible terms over the years by contributing to the development and strengthening of the Viareggio nautical hub, through initiatives that have created industrial value and employment, as well as growth prospects for the entire supply chain. Our intention is to bring to the project the industrial strength, expertise and long-term vision of Polo Nautico Carrara’s shareholders, in order to enhance the local industrial ecosystem and promote the excellence of Italian craftsmanship worldwide.”
The offer covers TISG’s entire business undertaking excluding debts and receivables, with any continuation of ongoing shipbuilding contracts subject to separate negotiations with individual yacht owners. It specifies an acquisition price, though the base price and terms of the eventual competitive sale process will be set by the bodies overseeing the insolvency proceedings.
Sanlorenzo has stressed that the offer’s effectiveness is conditional on a satisfactory due diligence review, the formal launch of a competitive sale process, and other conditions yet to be met.
The move places Sanlorenzo, which generated €960.4 million (US$1.09 billion) in net revenue from new yacht sales in 2025, at the centre of efforts to secure the future of one of Italy’s best-known superyacht builders as it works through court-supervised restructuring.
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