The Calzedonia Group and the Wise Equity fund announced the signing of a binding contract to acquire Cantiere del Pardo (“CdP”), a leading manufacturer of premium sailing and motor yachts. The Calzedonia Group thus expands its activities in the area of Italian excellence.
The meeting with the historical managers, Fabio Planamente and Gigi Servidati, who will retain a minority stake in the company, the sharing of visions on the future development of the Cantiere, along with the opportunity to bring experience in the industrial, organizational and distribution spheres favored the decision to close the deal.
Founded in 1973, Cantiere del Pardo has a history of great success and international recognition. Since its inception, it has launched over five thousand yachts under the Grand Soleil brand and more recently, under the Pardo Yachts and VanDutch brands. Cantiere del Pardo is recognized as one of the best luxury yacht manufacturers in the world, thanks to its history and tradition, deep design and construction knowledge, and the iconic design of its models.
The company has grown significantly since the arrival of Wise Equity (“Wise”) as an investor in 2020, both in revenues and corporate structuring. In particular, the success of the Pardo Yachts line of motoryachts, conceived in-house and developed with the collaboration of prestigious design firms, can be considered one of the greatest successes in the recent history of global yachting given the significant growth from the introduction of the first model in 2017 to the projected sales of more than 150 yachts in the past year. Servidati and Planamente, the two managers and proponents of CdP’s success, will remain partners in the company continuing the current development strategy based on quality, respect for tradition, service excellence and with great attention to sustainability issues declined in the yachting sector.
With the arrival of the Calzedonia Group, Cantiere del Pardo will pursue international growth and the development of new models, with even greater focus on quality and service excellence for both the distribution network and the end customer. CdP will continue to invest in sustainability, innovation and research and development starting from its advanced production sites and its unparalleled human capital.
Sandro Veronesi, founder and chairman of the Calzedonia Group commented, “Over the years, Calzedonia has demonstrated its ability to grow steadily.
Starting out as a company that dealt only with one product, it has developed into a group active in many markets and with many brands. Long-established companies such as Calzedonia, Intimissimi, and Tezenis have been joined by recent successes such as Intimissimi Uomo, Falconeri, Signorvino, and Atelier Emè.
New challenges are now Antonio Marras and Cantiere del Pardo. Common factors are a typically Italian love for the product, along with strong investments in production, distribution and communication.
I am convinced that Cantiere del Pardo, which is already an excellence in its sector, will also find great opportunities for growth from sharing the resources, knowledge and people of our Group.”
Marco Carletto, CEO of Calzedonia Group, commented, “We begin this new entrepreneurial adventure with enthusiasm and passion. We are confident that starting from the base of excellence already present in CdP, in its workers and managers, we will be able to contribute significantly to consolidate this Italian success story. I want to thank all the people, including our colleagues in Calzedonia, who contributed to the preparation of this deal.”
Gigi Servidati, President of Cantiere del Pardo added, “The acquisition of Cantiere del Pardo by the Calzedonia Group is for all of us a source of pride and satisfaction and, above all, an incentive to pursue with renewed enthusiasm the path of growth that we have started in collaboration with the Wise fund. The entrepreneurial experience and organizational skills of the Calzedonia Group will be fundamental to face with confidence and awareness the challenge of fully realizing the strategic objectives of range expansion, optimization of organizational processes and internationalization projects that we have been working on for years to increasingly establish Cantiere del Pardo as a reality of absolute excellence in one of the most important sectors of Made in Italy. A heartfelt thank you goes to all the colleagues and workers at Cantiere del Pardo who have made this incredible journey possible.”
Fabio Planamente, CEO of Cantiere del Pardo said “A new chapter in the long history of Cantiere del Pardo and its successes opens with the acquisition by the Calzedonia Group. We are very honored that such an important and prestigious Italian reality in the world, has decided to invest in our shipyard. Thanks to the valuable contribution brought by the Wise fund in the growth path of the shipyard, we are now even more motivated and convinced to face the next challenges and all the new projects, being able to count on a solid Italian group with proven entrepreneurial skills, which will bring Cantiere del Pardo and its brands to establish itself more and more in the world nautical scene, as an excellence of Made in Italy.”
Fabio Planamente, CEO of Cantiere del Pardo said “A new chapter in the long history of Cantiere del Pardo and its successes opens with the acquisition by the Calzedonia Group. We are very honored that such an important and prestigious Italian reality in the world, has decided to invest in our shipyard. Thanks to the valuable contribution brought by the Wise fund in the growth path of the shipyard, we are now even more motivated and convinced to face the next challenges and all the new projects, being able to count on a solid Italian group with proven entrepreneurial skills, which will bring Cantiere del Pardo and its brands to establish itself more and more in the world nautical scene, as an excellence of Made in Italy.”
Michele Semenzato, Founding Partner of Wise Equity, commented, “We are proud to have accompanied CdP’s management team on the exciting growth path the company has had in recent years. CdP is a fantastic example of excellence in an industry where our country holds a leadership role. Under Servidati and Planamente’s leadership, the company has profoundly evolved from the one we had invested in. The Cantiere del Pardo name and the brands it represents have definitively established themselves in the Olympus of the world’s most prestigious nautical brands; the management structure has grown and been significantly strengthened; the model range has been considerably expanded; and the production capacity has doubled.”
The transaction will be completed by October 2023.
Calzedonia Group’s advisors were Mediobanca – Banca di Credito Finanziario S.p.A., as financial advisor, Studio Legale Cinti & Associati for legal issues, KPMG for financial, accounting and tax due diligence.
Wise Equity was supported in the transaction by Cassiopea Partners as financial advisor, Simmons & Simmons for legal issues and Spada & Partners for accounting/tax issues.
(Calzedonia Group acquires Cantiere del Pardo – barchemagazine.com – August 2023)
