Tuesday, July 16, 2024
HomeNewsAbsolute Yachts acquired by investment fund

Absolute Yachts acquired by investment fund

Wise Equity has acquired a majority stake in Absolute Yachts alongside reinvestment by the majority of existing shareholders.

Absolute Yachts, headquartered in Podenzano (Piacenza) with a commercial branch in the United States, is set to achieve a 2024 turnover of more than €110 million, around 90% of which will be generated in more than 30 countries worldwide.

Absolute Yachts is known for its luxury yachts from 47ft to 73ft in Navetta, Flybridge and Coupé ranges.

Production is carried out in the Piacenza factory, from design to the launch of the yacht.

Angelo Gobbi will continue as President, guaranteeing the strategic and managerial continuity of the company.

“Absolute’s motto is: whoever stops is lost,” said Angelo. “This is why we have been reflecting on the future of Absolute for some time.

“We must continue to evolve, as we have always done, and we want Absolute to continue to be the precursor of stylistic and technological innovations, capable of foreseeing the new needs of shipowners and the market.”

He added: “We immediately recognised Wise Equity as the ideal partner to strengthen and support our development path by infusing new energy, further ideas and strategic support. The knowledge of the sector and the affinity of values ​​between the people of Wise Equity and Absolute represent for us a guarantee of respect for the history, collaborators, territory and customers of Absolute.”

Absolute, led by a visionary team, uses a unique design and production process in the world, providing loyal customers with superior quality boats.

Bruno Barago, Wise Equity principal

Fabrizio Medea, senior partner of Wise Equity, said the investment in Absolute Yachts reflects the strategy of the fund which invests in Italian excellence to accompany companies on a clear growth path.

“Absolute is a shipyard with a strong positioning,” he said.

“The company has reinvented the ‘shuttle’ style boats, designed to maximise comfort and liveability without sacrificing innovation and design, obtaining undisputed leadership in this segment.”

And he said that the priority will be to support Absolute to a more exciting future.

“We are sure that in this journey we can also count on a strong symbiosis with the territory and all the people of Absolute whose passion and dedication are a characterising element of the company’s success,” said Fabrizio.

Bruno Barago, Wise Equity principal, said the joint objectives will now be to further strengthen the brand alongside Absolute dealers and to further develop the model range.

“Absolute, led by a visionary team, uses a unique design and production process in the world, providing loyal customers with superior quality boats,” he said.

“Absolute yachts are the synthesis of the qualities of the members and the entire team: reliable, innovative and with great attention to detail.”

In 2020, Wise Equity acquired a majority share of Cantiere del Pardo which was later sold in 2023 to Calzedonia Group.

Wise Equity is a private equity fund manager that has been investing in small and mid-size Italian companies since 2000.

RELATED ARTICLES

Most Popular

error: Content is protected !!