- Revenue and EBITDA more than doubled under Platinum’s ownership, with fiscal 2025 revenue topping €400 million
- Backlog grew from about €500 million at acquisition to more than €1 billion
- Platinum completed a series of add-on acquisitions that broadened De Wave’s capabilities and international footprint
Platinum Equity has agreed to sell De Wave Group, a Genoa, Italy-based provider of integrated marine interior and technical systems for the cruise and yacht industries, to Renaissance Partners.
De Wave supports shipowners and shipyards throughout the vessel lifecycle, from newbuilds to refits and upgrades, with capabilities spanning design and engineering, manufacturing, project management, onboard installation, after-sales services and ship repair and maintenance.
Platinum acquired De Wave in October 2019. During its ownership, revenue and EBITDA more than doubled, with fiscal 2025 revenue of more than €400 million and EBITDA of more than €50 million. De Wave’s backlog grew from about €500 million at acquisition to more than €1 billion, and Platinum completed a series of add-on acquisitions that expanded the company’s product offering, technical capabilities and international footprint.
The cruise industry entered a period of pandemic-driven disruption shortly after the acquisition, as operators paused sailings and deferred newbuild and refit activity. Platinum elevated Riccardo Pompili to group chief executive during that period and worked with him on other key leadership hires and internal promotions.
“When we acquired De Wave, we saw a technically strong business with the potential to become a more integrated global leader,” said Louis Samson, co-president of Platinum Equity, in a statement. “Within months, the company was operating near the epicenter of Europe’s initial covid-19 outbreak while serving an industry brought to a near standstill. Riccardo and his team showed great leadership and together we rebuilt the business. It’s a remarkable story of achievement, perseverance and teamwork.”
Samson said the deal marks another milestone for Platinum Equity in Italy, where the firm’s portfolio also includes Fantini Group, a wine producer and exporter, and Fratelli Polli, a maker of pasta sauces and condiments. “We have deliberately built our European deal platform with a diverse team that can operate across multiple local languages and cultures,” he said. “Italy is a formidable market where having those capabilities is a difference maker.”
The transaction is expected to close by the end of 2026.
Editor’s note: This news brief was produced with the assistance of artificial intelligence.
