Fincantieri sets terms for Remazel takeover

Italian shipyard Fincantieri has set the main terms and conditions for acquiring Remazel Engineering, an Italian company specialising in customised topside equipment for subsea operations and marine energy. 

Fincantieri has purchased 100 per cent of the shares of Remazel from Advanced Technology Industrial Group. The purchase price for the transaction, which is expected to be finalised by year-end, will be calculated based on a €78m enterprise value, subject to adjustments.

With this transaction, Fincantieri says it intends to speed up the growth of its technological, engineering and construction expertise, especially in the offshore and subsea sectors.

The transaction enables the group to acquire highly specialized capabilities in designing and supplying cutting-edge top side equipment while increasing its role as a partner of the major international marine and subsea energy operators.

Fincantieri says the acquisition ‘strengthens its offer of end-to-end solutions consolidating its after-sale activities’, focusing on ‘digital services and logistic support having a high operational complexity.’

Remazel is headquartered in Chiuduno (Bergamo), with operations in Trieste, China and Brazil. With more than 160 employees mainly based in Italy, the company recorded revenues in excess of €100m in 2022.

The company is particularly focused on the design and supply of highly complex systems for handling, lifting and anchoring, as well as on launch and recovery solutions for underwater vessels particularly used in the energy transition areas of the offshore segment, in addition to the production of critical gas turbine components.

“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,” says Pierroberto Folgiero, CEO of Fincantieri.

“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.”