Wise Equity accelerates the growth of Cantiere del Pardo
The tireless and hyperactive Italian shipyard concludes a new large-scale deal. Only 5 months after the acquisition of VanDutch, Cantiere del Pardo returns to fill the front pages of yachting magazines by announcing the entry of the new shareholder Wise Equity, one of most liquid and reliable funds on the current scene.
This operation confirms the continuation of the development strategy that had lead the company led by Fabio Planamente and Gigi Servidati to quickly establish itself in the international yachting scenario.
” The entry of the new shareholder Wise Equity has a strategic importance for us to ensure an acceleration in growth and the achievement of the many ambitious goals we have set ourselves. For us, this means having the strength and resources to develop new innovative models, both sailing and motor boats, that will meet the needs of shipowners who have been trusting us for years and who see our shipyard as a point of excellence – says Cantiere del Pardo President Gigi Servidati – Having the resources to reduce the time to market of our models rewards the expectations of those who have believed for years in the strength of our premium brands: Grand Soleil Yachts, Pardo Yachts and, recently, VanDutch”.
With this deal, Gigi Servidati and Fabio Planamente wanted to open the capital structure to an historical Italian private equity player, aiming at continuing the path they started in 2014, when they took over the shipyard’s management.
In these 6 years the shipyard has launched 8 new sailing boat models, introducing the Grand Soleil Long Cruise line, and has entered the motorboat segment with the Pardo Yachts brand in 2017, presenting 4 new models and recently acquiring the VanDutch brand.
In the coming years, with the current management at helm of the shipyard, the objective will be to continue to invest both in the offer of sailing boats and in the development of the powerboat segment. The goal, in line with the history of Cantiere del Pardo, is on one hand to strengthen the leadership in the 30-80 feet segment and, on the other hand, to evaluate opportunities for expansion in other segments. In addition, management will pursue opportunities to acquire brands complementary and synergic with the current offer of Cantiere del Pardo, replicating the recent VanDutch brand acquisition.
“In the decision to open up the capital structure to provide additional resources for development of the company, we paid strong attention to the choice of the partner – states Cantiere del Pardo CEO Fabio Planamente – We found in Wise Equity the partner we were looking for, not only for their twenty years of experience in accompanying medium-sized Italian companies in their path of growth and internationalization, but also for their industrial mindframe that we are sure will allow us to have a shareholder sensible to the peculiarities of our sector”.
Wise Equity, which will acquire 60% of Cantiere del Pardo, is a private equity fund manager investing in small- and mid-sized Italian companies. The investment strategy focuses on the growth of a business and its strategic relevance, with a conservative approach to financial leverage, aimed at further supporting organic development plans and acquisitions to further strengthen our portfolio companies and increase their competitiveness on an increasingly global scale.
” Cantiere del Pardo represents a history of great success in a sector in which Italy has a strong tradition and world leadership. We are happy to be able to support an excellent management team that has achieved an incredible turnaround of the shipyard – says Michele Semenzato, Founder Partner of Wise Equity – Future projects include the development of both the sailing segment and the powerboat segment. In the former, the shipyard has a great tradition built on attention to design and construction quality, elements that will not only be maintained, but strengthened and placed at the base of the future developments. In the latter, the journey has just begun, but many successes have already been achieved and the goal is to build on the this initial, successful path”.
Wise Equity currently has three funds under management, for a total endowment of over 650 million euros.
This is the prelude to a new important expansion phase which, in terms of new models and acquisitions, will lead Cantiere del Pardo to hold new pleasant surprises.