Platinum Equity Announces Sale of De Wave Group After Multi-Year Transformation
Platinum Equity has signed a definitive agreement to sell De Wave Group, a marine interiors specialist based in Genoa, Italy. The company more than doubled its revenue and EBITDA during Platinum's ownership period from October 2019 through fiscal 2025, achieving record figures of over €400 million in revenue and €50 million in EBITDA. De Wave also expanded its international presence and grew its backlog to exceed €1 billion despite the challenges posed by the pandemic. The transaction is expected to close by year-end after regulatory approvals are obtained. During Platinum Equity's ownership, strategic leadership changes were made, including promoting Riccardo Pompili as Group CEO during the height of the crisis. The company also completed several add-on acquisitions and improved operational capabilities across pricing, sourcing, project execution, technology, health, and safety. Louis Samson and Fernando Goni from Platinum Equity highlighted their commitment to strengthening De Wave's leadership and operations through investment and M&A strategies. Riccardo Pompili expressed gratitude for the partnership that enabled expansion of technical capabilities and international reach.
Topics: Business growth Cruise industry Marine interiors Private equity