Supporting the excellence of Made in Italy in the world. Cassa Depositi e Prestiti, MPS Capital Services, and UBI Banca signed a loan of 60 million euros to grow the Azimut Benetti Group.
The operation is assisted by SACE’s Garanzia Italia program and is intended to support the further expansion and competitiveness of the Azimut Benetti Group in order to develop new innovative boat models.
With this operation, the Italian naval company intends to accelerate the development of new models according to the latest market and innovation trends, such as the largest hybrid boat in the world. This financing contract will contribute to the introduction of cutting-edge technologies in the boating industry, whose research will be strongly oriented towards sustainability principles.
The Azimut Benetti Group has an international distribution and service network spread all over the world with over 60 dealers in 138 locations in 71 countries, boasting an extensive and articulated worldwide sales network. The company is present throughout Italy with five production sites located in Avigliana (TO), Savona (SP), Viareggio (LU), Livorno (LI), and Fano (PU).
Chairman Paolo Vitelli states: “This financing, provided promptly by the banking system coordinated by CDP, is strategic to strengthen investment in innovative products, support the supply chain and speed up the adoption of cutting-edge technologies and marketing strategies, in order to consolidate the leadership of our company, engaged in 71 export markets, in an increasingly sophisticated and competitive context”.
Nunzio Tartaglia, Head of the CDP Imprese Division, comments: “With this operation, the CDP Group confirms its role in supporting our companies and Made in Italy in the world, with the strategic objective of increasing the fundamental processes of innovation and expansion of Italian excellence, particularly in the shipbuilding sector, which is of strategic importance for the country’s economy, also at international level. Moreover, with this loan, CDP is supporting the company’s competitiveness in terms of employment protection and the operations of the nautical sector and related businesses”.
Emanuele Scarnati, General Manager of MPS Capital Services, says: “With this operation, MPS Capital Services confirms its focus on companies operating in strategic sectors in Italy, giving concrete support to initiatives aimed at protecting quality production, sustainability and innovation”.
Marco Mandelli, Head of Corporate & Investment Banking at UBI Banca adds: “Companies are experiencing a very challenging historical moment and as UBI Banca we have acted promptly to provide the necessary tools to protect production continuity and to support growth projects. This operation allows the Azimut Benetti Group to have immediate liquidity to continue to invest and maintain a leadership position in a market, that of the boating industry, historically strategic for Made in Italy”.
Simonetta Acri, SACE’s Chief Mid Market Officer, underlines: “We are happy to have given our contribution in this operation together with CDP, MPS and UBI Banca to support and give new impetus to the Italian boating industry, one of the Made in Italy sectors of recognised excellence in markets all over the world. This operation strengthens the partnership established in 2016 between SACE and Azimut Benetti, which saw us side by side in an important international order.”
(Azimut Benetti Group, 60 million euro financing coming soon – Barchemagazine.com – July 2020)