Sanlorenzo returns to Italian ownership

Publish date:
Sanlorenzo chairman/CEO Massimo Perotti

Sanlorenzo chairman/CEO Massimo Perotti

Massimo Perotti, chairman and CEO of Sanlorenzo, has repurchased 23 percent of the shares in the company from Sundiro Holding company, the Chinese firm that purchased them in 2013. The two had an agreement to build boats less than 65 feet long under a different name in China.

Sanlorenzo SpA. was assisted in the negotiation of the transaction by Studio Musumeci, Altara, Desana and Associates and by RSM Studio Palea Lauri Gerla.

The deal puts the Perotti family firmly in control of Sanlorenzo with possession of 96 percent of the shares of Sanlorenzo SpA through the Happy Life Holding company, which includes children Cecilia and Cesare Perotti, after the repurchase a few months ago of the 16 percent shares that had been sold to Fondo Italiano di Investimento in 2010. Management holds the remaining 4 percent.

In a statement, the company said it has had positive growth in the past few years. “Revenue has grown from 300 million in 2017 to 380 in 2018 and for 2019, we are forecasting an additional growth of 20 percent,” Massimo Perotti said. “Furthermore, we have an order backlog of 500 million for 2019 and 2020. We expect to invest 100 million euros by 2020, of which 52 percent will be in new facilities to increase our production capacity, 42 percent in new products expanding our product offering with new models able to satisfy the growing demand of the international market, and 6 percent in R&D.”

One such investment is the Sanlorenzo Academy, which is focused on developing young workers for the marine industry. 


The Calm Before the Storm?

Although key measures continued on an upward trajectory and unemployment numbers have fallen, the overall outlook for 2020 remains volatile.