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Fincantieri finalises Remazel purchase

Posted on December 6, 2023

Italian company Fincantieri has set the main terms and conditions to acquire 100% of Remazel Engineering, helping it to strengthen its position in the growing offshore wind sector.

The transaction enables the group to acquire highly specialised capabilities in the design and supply of topside equipment, while increasing its role as partner of the major international marine and subsea energy operators.

The acquisition from Advanced Technology Industrial Group is still set to be finalised, subject to some conditions set out by the parties being met.

The purchase price for the transaction, which is expected to be finalized by year end, will be calculated on the basis of a €78m enterprise value, subject to adjustments typical for this type of transaction to be made at closing scheduled to occur by the first quarter of 2024.

“This transaction represents the first important step of the development strategy in the offshore and subsea technological operations sector, while favouring the consolidation in Italy of one of the outstanding players in the Italian industrial world,” said Fincantieri chief executive Pierroberto Folgiero.

“The distinctive engineering and technological expertise of Remazel, a leader in its sector, enables the group to consolidate its role as an integrator of complex systems and as a partner for our customers throughout the life of naval vessels and their most value-added equipment,” Folgiero added.

“Remazel’s current positioning also allows Fincantieri to strengthen its position in fast-growing sectors, such as underwater operations and offshore wind, covering the most value-added activities in the value chain. The underwater sector in particular represents a new geopolitical arena of great strategic importance in both the civil and defence domains.”


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