Unpicking the secrets of Sanguineti’s revenue success with Quick Group’s CEO

man stands - arms folded - looking at camera This is CEO of Quick Group which took over Sanguineti

MIN sits down with Michele Marzucco, CEO of Quick Group, to explore Sanguineti’s revenue increase, fear of change and opportunities for the recently acquired company.

From 2022 to 2023, Sanguineti recorded a 48 per cent increase in revenue, with more growth expected. The artisanal manufacturer of equipment for superyachts is based in Chiavari, Italy and was recently acquired by Quick Group.

Michele Marzucco (pictured above), whose day job is turning Quick Group into a hub of technological excellence for the nautical market, says that the key to Sanguineti’s revenue increase has been simple: increasing production capacity.

“There was already a strong demand for Sanguineti products, and year after year, we reached full production capacity. Now, with the move to the new facility in Casarza, we will further increase production capacity and expand the technical office staff to tackle new challenges and aim for new heights,” Marzucco says.

He’s been the driving force behind Quick Group’s other recent acquisitions – over the past two years the company has invested in three manufacturing companies: Sanguineti, Nemo, and Xenta, as well as an American service company, YMS, which was merged into Quick USA.

“The reason of these acquisitions is finding companies that are synergical with Quick and are able to complement the product portfolio or expand the business into new sectors. All the acquired companies benefit from the Quick Group’s core values: Italian craftsmanship, short supply chains, sustainability, rigorous industrial processes, and a relentless focus on quality,” says Marzucco.

Supplying companies such Sanlorenzo, Overmarine, Gulf Craft, Sanguineti found itself in Quick Group’s spotlight when the latter decided to enlarge its product portfolio. The deal was formalised in April 2023. Now Sanguineti’s dedication to the superyacht sector completes Quick’s existing product portfolio in certain product lines, such as the Riviera windlasses and retractable capstans.

Stern of a superyacht which features platform and products made by Sanguineti which is part of Quick Group

It’s current product portfolio includes gangways, multifunctional ladders, tender cranes and deck hatches as well as opening hardtops, doors, anchor gear and more.

Plus, it’s developing new product lines while extending customisation options on products like the Karin and Smeralda chairs (it’s customised product for a variety of superyachts). The company which employs 53 people has enjoyed a €3.5 million investment in new machinery and expanding facilities.

“Sanguineti specialises in bespoke, highly complex, and technologically advanced systems and in other areas, it challenges us [Quick] to achieve new heights.”

But, “it’s significantly different from Quick in terms of production process,” says Marzucco.

Developing Sanguineti efficiency in line with Quick Group processes leads to revenue increase

Bringing together company cultures especially when they’re at different ends of the spectrum (think artisanal versus industrial) will always be a challenge, but in this case benefits have been realised.

“One significant benefit [of the acquisition] has been the optimisation of processes that has improved efficiency thanks to a better delegation and specialised roles within the team. This allows for a more focused approach to complex projects while maintaining high standards of quality and innovation.”

Marzucco says that making this happen has had its challenges. Specifically changing the mindset and habits related to non-value-added processes.

“What we are trying to do is bring our industrial expertise into an artisanal company, while being careful not to restrict processes.

“As an artisanal workshop, the technical office was used to handling everything, from design and cost estimates to production support. Now, we are working to ensure that each team member focuses on their specific role. The technical office, considering the nature of custom and tailor-made orders, remains the owner of the entire process but it must learn to delegate non-core tasks to increase overall productivity. The positive aspect is that their will to maintain control demonstrates their dedication and attention to detail. We are working on this.”

ruler, pencil and technical drawing all part of Sanguineti's process to make products for superyachts.

The aim is that Sanguineti will preserve its identity while improving efficiency and quality.

“We greatly respect the system we find in each company. We must remember that companies are made of people, and our goal is to keep them motivated and focused,” Marzucco notes, pointing out that the group’s welfare standards are extended into each acquisition, as well as the in-house and supplier quality control processes.

And in Sanguineti’s case?

“Cost and profitability management has been tightened, moving from a more empirical approach to a structured one. All of this was made possible thanks to a cohesive team effort, involving both the group functions and the Sanguineti resources.”

Smooth acquisition of Sanguineti – hesitation not resistance

The acquisition process went well. Although he notes that initially there was some hesitation due to the fear of change, Marzucco says that there was no actual resistance and there was a smooth transition with the Sanguineti family. “The team quickly understood our intentions and recognised the value that this change would bring to the entire company. The family facilitated an easy and well-supported integration.

“We are very pleased, not only Sanguineti but all new group entries did not demonstrate resistance. The managing directors have played their part in this success.

“Certainly the biggest and most pleasant surprise about working with the team at Sanguineti is the passion and expertise they built over a lifetime on highly technological and complex systems that enhance comfort and improve safety on board. The Sanguineti team is made up of engineers, salespeople, and technicians who have been with the company for many years and represent a valuable asset. Their production skills are also invaluable, as they have the knowledge to shape raw materials into something extraordinary.”

That team has had a key benefit for the wider Quick Group. “Beyond the human enrichment mentioned earlier, the key benefit has been the technological know-how shared with the rest of the group’s technical team.”

A bright future for Sanguineti within Quick Group

“While Italy remains our leading market, due to the high concentration of superyacht builders, we also have a significant international presence,” Marzucco notes. Quick Group operates in more than 110 countries and has built a network of service points in Italy and abroad over the past 30 years, which can now support Sanguineti customers as well.

Docking mechanism by Sanguineti part of Quick Group

“Shipyards in the US and the UK can benefit from the presence of Quick USA and Quick UK, which from this autumn will also be able to commercialise Sanguineti products in their respective countries,” he continues.

The group comprises six brands: Quick Nautical Equipment, Quick Marine Lighting, MC², Nemo, Xenta, and Sanguineti.

“The group has always supplied both superyachts and smaller cruising boats. We have implemented an important commercial reorganisation to create two distinct divisions: on one side, the production shipyards, distribution, and after-sales, led by CCO Andreas Karlsen, and on the other, the Superyacht division, headed by Lorenzo Cesari, who is also the CEO of Sanguineti.

“The needs and approach to a superyacht shipyard are significantly different from those for a smaller yacht, even though we maintain our consultative approach. The requirements are different, and we act accordingly.”

Earlier this summer, the group launched a raft of sustainability initiatives, including reducing carbon emissions, enhancing supply chain transparency and increasing investments in renewable energy. The group says it is working towards sourcing 100 per cent renewable energy by the end of 2024. Other initiatives underway include carbon footprint mapping, ISO certification, implementing vertical production methodologies and promoting workplace inclusion and equity strategies.

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