Fincantieri Set to Acquire Remazel Engineering

© Mauro Carli / Adobe Stock
© Mauro Carli / Adobe Stock

Fincantieri has set the main terms and conditions for the acquisition of 100% of the shares of Remazel Engineering S.p.A. from Advanced Technology Industrial Group S.A. Remazel is a leader specialized in the design and supply of highly customized and complex topside equipment.

The transaction enables Fincantieri to acquire highly specialized capabilities in the design and supply of cutting-edge top side equipment, while increasing its role as partner of the major international marine and subsea energy operators. With Remazel, Fincantieri strengthens its offer of end-to-end solutions consolidating its after-sale activities, with a particular focus on digital services and logistic support having a high operational complexity.

Remazel is a leading Italian company headquartered in Chiuduno (Bergamo), with operations in Trieste, China and Brazil and more than 30 years of experience in the industry. With more than 160 employees mainly based in Italy, the company recorded revenues in excess of EUR 100 million in 2022. The company is particularly focused on the design and supply of highly complex systems for handling, lifting and anchoring, as well as on launch and recovery solutions for underwater vessels particularly used in the energy transition areas of the Offshore segment, in addition to the production of critical gas turbine components.

The purchase price for the transaction, which is expected to be finalized by year end, will be calculated on the basis of a EUR 78 million enterprise value, subject to adjustments typical for this type of transaction to be made at closing scheduled to occur by the first quarter of 2024.

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