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TISG finalises Viareggio shipyard sale

The Italian Sea Group (TISG) has finalised the sale of its Viareggio shipyard to Next Yacht Group for €21 million.

TISG, whose brands include Admiral, Tecnomar, Perini Navi, Picchiotti, NCA Refit and Celi 1920, acquired the yard with the acquisition of Perini Navi in 2021.

TISG states that dimensional and structural characteristics of the yard, mainly linked to the draft and the size of the sheds, the production site, was inadequate for the production of yachts over 50 metres, which represents TISG’s core business.

The production of full custom mega and giga-yachts is around 90% of the company’s current order book.

The sale of the yard concludes the planned disposal of assets deriving from the Perini Navi brand which TISG has deemed is not strategic for its development plan.

TISG sold the building previously used as the Perini Navi offices for €12 million in 2023 and now incorporates corporate activities in its Marina di Carrara headquarters.

“We are very satisfied with this transaction, which is in line with our business strategy of focusing on the segment of custom-made large yachts,” said Giovanni Costantino, founder and CEO of The Italian Sea Group. “We are glad that the activities in the historic Viareggio shipyard will soon be restarted by a prestigious player in yachting, for the benefit of the local community and the entire supply chain.

“TISG and Perini Navi will maintain their presence in Viareggio with the commercial flagship and woodworking hub located in the heart of the port and inaugurated last March.”

The sale of both the office building and the shipyard amounts to €33 million.

Next Yacht Group operates in the up to 50 metres boat segment.

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