Advanced Technology Industrial Group, a company controlled by Alpha Private Equity, has reached an agreement for the sale of 100% of Remazel Engineering to Italian shipbuilding giant Fincantieri.
The anticipated completion of the transaction, expected in the first quarter of 2024, will result in Remazel becoming part of Fincantieri.
The integration will combine Remazel's 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, according to the companies.
Remazel is developing tailored systems for handling, lifting and anchoring, as well as launch and recovery solutions for subsea vessels. Its solutions are employed not only in the oil and gas sector but also in the rapidly expanding offshore wind market, and other areas of energy transition.
In 2022, Remazel achieved revenues exceeding $110 million and employed a skilled workforce of over 160 professionals.
Edoardo Lanzavecchia, Managing Partner at Alpha Private Equity, said: “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, added: “This is good news for Remazel and for the offshore technology market, in particular for the energy transition.”