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Alpha Private Equity reaches an agreement for the sale of 100% of Remazel to Fincantieri

 December 24th, 2023 – Advanced Technology Industrial Group S.A., a company controlled by Alpha Private Equity, reached an agreement for the sale of 100% of Remazel Engineering S.p.A. to Fincantieri S.p.A.

Remazel Engineering, headquartered in Chiuduno (Bergamo - Italy), is the leading engineering company active in the design and supply of equipment for deep-water off-shore applications for both oil & gas and wind sectors.

With over three decades of history and experience, Remazel has established itself as a leader in developing tailored systems for handling, lifting and anchoring, as well as launch and recovery solutions for underwater vessels. Its innovative solutions are widely recognized as technological benchmarks, not only in the oil & gas sector but also in the rapidly expanding off-shore wind market, and other areas of energy transition. In 2022, Remazel achieved revenues exceeding €100m and employed a skilled workforce of over 160 professionals.

Fincantieri is one of the world's leading shipbuilding companies, the only one active in all areas of high-tech naval engineering. It is a leader in the construction and transformation of cruise, military, and offshore vessels in the oil & gas and wind power sectors, in the underwater business, as well as in the production of systems and components, in offering after-sales services, and in naval furnishing solutions. Thanks to the capabilities developed in the management of complex projects, the Group boasts references of excellence in infrastructure, and is a leading operator in digital and cybersecurity, electronics and advanced systems. In the fiscal year of 2022, Fincantieri achieved remarkable revenues exceeding €7 billion.

The anticipated completion of the transaction, expected in the first quarter of 2024, will result in Remazel becoming part of a prominent, globally diversified industry leader, namely Fincantieri. This integration will combine Remazel's exceptional engineering and technological expertise in the offshore energy sector with Fincantieri's strategic vision, propelling the Italian shipbuilder's advancements in the realm of energy transition.

Edoardo Lanzavecchia, Managing Partner at Alpha Private Equity, commented: “Since the acquisition, we have worked closely with Management to facilitate Remazel in solidifying its position as a technological frontrunner. Moreover, we have assisted in broadening the company's scope to encompass the energy transition, achieved through the implementation of an extensive program aimed at diversifying its end markets. This strategic initiative not only seeks to reduce Remazel's historical reliance on the oil and gas sector but also aims to enhance its prominence in the evolving energy landscape.

Consequently, Remazel strategically targeted emerging sectors, such as offshore wind and deep-sea research, demonstrating a resolute commitment through substantial investments and endeavours. Leveraging its robust engineering prowess and the strong dedication of its 2 management team, Remazel has achieved remarkable triumphs in penetrating the offshore wind and subsea research markets. Presently, the company stands as a preeminent global leader and reference player in the design and supply of deck equipment, serving both the offshore wind and subsea exploration sectors. The acquisition by Fincantieri heralds a new era of growth for Remazel, as it aligns itself with a formidable industrial shareholder possessing solid operational and financial capabilities. This alliance is poised to amplify and foster significant industrial and commercial synergies. We eagerly anticipate observing the future development of the company and the progression of its journey alongside the new shareholder.”

Andrea Rosa, CEO of Remazel Engineering commented: “This is good news for Remazel and for the offshore technology market, in particular for the energy transition. With this agreement, we have fully achieved the objectives set together with Alpha in 2017, as we traced a path that brought Remazel from a family business to a managerial company capable of competing at global level and now we have found the right partner with whom pursuing further consolidation and international development. Fincantieri represents a great opportunity for development and growth first and foremost for all the people at Remazel, for the market and for the entire region.” Mediobanca (main financial advisor), Rothschild & Co and Pedersoli Studio Legale advised Alpha Private Equity in the transaction.