The Wave Group has acquired four Italian companies, strengthening its growth strategy across the shipbuilding supply chain.
The acquisition of the companies creates an Italian shipbuilding hub which encompasses designing and building interiors and technical systems for the cruise and yacht industries.
The newly companies acquired are:
• IVM, a cruise ship outfitting and furnishing company that is headquartered in Padua and has a significant order backlog. The company was founded in 1996.
• Electrical Marine, which supplies lectrical and electronic systems segment to the marine industry. The company was established in 1980, and has its headquarters and plant in Turin, with service and operational branches in Savona and Varazze.
• O.M. Project, which provices metal carpentry and electro-actuated systems for the marine sector, headquartered in Turin.
• Cantieri Navali San Carlo which builds pleasure and sports boats, headquartered in Turin.
We can now cover every stage of design, production, assembly and installation for the cruise and yachting sectors.
Riccardo Pompili
“The transactions are part of our long-term strategy of growth through external lines, aimed at creating an Italian shipbuilding supply chain hub,” explained Riccardo Pompili, Wave Group CEO.
“We can now cover every stage of design, production, assembly and installation for the cruise and yachting sectors.
“Our investment and partnership strategy is also strongly focused on empowering the management teams that have driven the success of their companies and who will play a central role in our ambitious development plan for the future.”
The Group says it has presented an investment plan totalling €50 million to support the development of each of its businesses.
Expansion of production capacity
This will be based on three key pillars, starting with expanding production capacity at several facilities to meet growing demand.
The Group also intends to purchase new equipment and invest in technological development, to speed up the production process and meet a backlog of future orders.
As part of the development plan, the Group says it also intends to continue its growth through further acquisitions that could bring additional added value.
There are also plans to take on around 150 new hires over the next few years to support increased production and strengthen after-sales services.
Investing in talent
Pompili added: “From today, thanks to four major players in our sector, we will strengthen strategic areas such as refitting, technological innovation, and after-sales services, integrating key skills to address the sector’s new challenges.
He continued: “Ours is a very unique sector, in which the knowledge and expertise of our workforce continues to be the true added value in the production process and cannot currently be replicated by any virtual assistant equipped with artificial intelligence.
“As our hiring plan demonstrates, we therefore intend to continue to believe in and invest in the talent and capabilities of the companies that join our Group, leveraging their specific strengths and promoting concrete synergies with a view to sustainable growth.”
International operations
The acquisitions follow on from several previous acquisitions over the last four years including Mobil Line, a yacht interior design company; SER, a manufacturer of radiant heating elements; Tecnavi, a supplier of air conditioning and refrigeration systems; Wingeco, a glass manufacturer; and Inoxking, a steel manufacturing and processing company.
De Wave has international operations spanning seven production sites and 12 offices in nine countries, employing more than 1,400 professionals.
The Group is expected to have a total turnover of €450 million by the end of 2025.
