Fincantieri boosting offshore and subsea sectors’ growth with new acquisition

Italian shipbuilding giant Fincantieri has set forth the main terms and conditions for the acquisition of 100% shares of Remazel Engineering, a compatriot company specializing in the design and supply of highly customized and highly complex topside equipment, from Advanced Technology Industrial Group. With this addition, the Italian player aims to accelerate the growth of its technological, engineering, and construction skills in the offshore and subsea sectors.


According to Fincantieri, the acquisition of Remazel will strengthen its position on the distinctive engineering and technological skills of the high-value-added segments of diving and marine energy. The completion of this acquisition will be subject to the occurrence of certain conditions the companies agreed to.

This transaction will allow the Italian shipbuilder to acquire highly specialized capabilities in the design and supply of topside equipment, increasing its role as a partner of the main international operators in the marine and subsea energy sector.

Pierroberto Folgiero, Chief Executive Officer of Fincantieri, commented: “The transaction represents the first important step in the development strategy in the field of offshore and subsea technological operations, while at the same time favoring the consolidation in Italy of one of the excellences of the national industrial sector.

The distinctive engineering and technological skills of Remazel, a leader in its sector, allow the group to consolidate its role as an integrator of complex systems and as a partner for our customers throughout the life of the vessel and its most value-added equipment.”

What will this acquisition bring?

The Remazel acquisition enables the shipbuilding giant to strengthen its offer of end-to-end solutions, consolidating its presence in after-sales activities, with a particular focus on digital services and logistics support with high operational complexity. With operational offices in Trieste, as well as in China and Brazil, Remazel recorded revenues of over €100 million in 2022, with over 160 employees located mainly in Italy.

This Italian firm is particularly focused on the design and supply of highly complex systems for handling, lifting and anchoring, launching, and recovery solutions for underwater vehicles, particularly used in the sectors involved in the energy transition of the offshore segment, as well as in the production of critical components for gas turbines.

Fincantieri explains that the acquisition agreement, which is expected to be completed by the end of the year, will provide for a consideration based on an enterprise value of €78 million, subject to closing, expected during the first quarter of 2024, to adjustments typical for a transaction of this type.

Upon completion, the Italian shipbuilding giant underlines that it will expand its portfolio of distinctive skills by consolidating its role as “a supply chain leader and aggregator” through the pursuit of economies of scale and scope, consolidating the skills of “excellent” companies in Italy at national and international level. More insights will be made available when the agreement is signed.

“Remazel’s current positioning also allows Fincantieri to strengthen its position in fast-growing sectors, such as underwater operations and offshore wind, covering the highest value-added activities in the value chain. Diving, in particular, represents the new geopolitical domain, of great strategic importance in both the civil and defense sectors,” added Folgiero.

This agreement comes a week after Fincantieri launched Mein Schiff Relax, the inaugural vessel of the inTUItion class, a series of two LNG dual-fuel cruise ships being built for TUI Cruises, a joint venture between TUI AG and Royal Caribbean Cruises.

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