Platinum Equity Sells De Wave Group for €1 Billion Backlog

Platinum Equity has reached a significant milestone by signing a definitive agreement to sell De Wave Group, a leading provider of integrated marine interior and technical systems solutions for the cruise and yacht industries. The transaction is expected to close by the end of 2026 and underscores Platinum Equity's commitment to investing and operating in Italy.

Based in Genoa, Italy, De Wave supports shipowners and shipyards across the vessel lifecycle, from newbuilds to refits and upgrades. The company's capabilities encompass design and engineering, manufacturing, project management, onboard installation, after-sales services, ship repair, and maintenance. With a presence in Europe, Asia, and the Americas, De Wave has grown significantly under Platinum Equity's ownership.

During its tenure, Platinum Equity more than doubled De Wave's revenue and EBITDA, reaching record fiscal 2025 revenue of over €400 million and EBITDA of more than €50 million. The company also expanded its backlog to over €1 billion, providing strong visibility across the newbuild and refit businesses. This growth can be attributed to several strategic initiatives, including the elevation of Riccardo Pompili to Group CEO during the pandemic and the completion of a series of strategic add-on acquisitions that expanded De Wave's product offering, technical capabilities, and international footprint.

Platinum Equity acquired De Wave in October 2019, a time when the cruise industry was facing unprecedented disruption due to the pandemic. The company's leadership acted decisively, working closely with Riccardo and his team to navigate the challenges and rebuild the business. According to Louis Samson, Co-President of Platinum Equity, "When we acquired De Wave, we saw a technically strong business with the potential to become a more integrated global leader. Riccardo and his team showed great leadership, and together we rebuilt the business. It's a remarkable story of achievement, perseverance, and teamwork."

Fernando Goni, Managing Director at Platinum Equity, added, "De Wave is a compelling example of what our team can achieve in close partnership with management. Our operational focus and the combined strength of our investment, operations, and capital markets teams helped strengthen leadership, improve execution, and build a more integrated and resilient platform through organic growth and M&A."

The success of De Wave marks another important milestone for Platinum Equity in Europe and its commitment to investing in Italy and other countries in the region. "We have deliberately built our European deal platform with a diverse team that can operate across multiple local languages and cultures. Italy is a formidable market where having those capabilities is a difference maker," said Samson. "With the leadership of Filippo Rossi and Fernando Goni, our team has built strong local relationships and has deep experience partnering with Italian founders, families, and management teams to support the development and international expansion of their businesses."

Platinum Equity's current portfolio includes other Italian investments such as Fantini Group, a producer and exporter of specialty-label wines, and Fratelli Polli, a producer of pasta sauces, condiments, and vegetable preserves. Both companies remain active investments for the firm.

The transaction is subject to customary regulatory approvals and is expected to close by the end of 2026. The deal highlights Platinum Equity's strategic focus on Italy and its commitment to supporting the growth and development of businesses in the region.