The Boatbuilding Technology Centre (BTC) in Pietarsaari, Finland, will remain Nautor Swan’s main production site.

Sanlorenzo has entered into a binding agreement to acquire ownership of Nautor Swan. The Italian shipyard will initially acquire 60% of Nautor Swan's shares, with plans to acquire the remaining 40% within four years. The intent behind the move is driven by Sanlorenzo’s ambition to create the largest player in the high-end nautical segment, focusing on production processes and an extensive sales network.

Post-acquisition, Massimo Perotti will serve as CEO, Giovanni Pomati as co-CEO, and Leonardo Ferragamo will retain his role as Chairman of Nautor Swan.

“Over the past few months, we have developed a solid business plan, in terms of product development and synergies implemented in technology, production, and sales, as well as economies of scale, working together with Leonardo Ferragamo and Nautor Swan’s management, who have transformed the shipyard and its yachts into a globally desired iconic brand,” explains Massimo Perotti, Chairman and CEO of Sanlorenzo.

“With the acquisition of Nautor Swan, Sanlorenzo will really go into high gear in its ‘Road to 2030’: we are pioneers in sustainable yachting, at the forefront of applied research of carbon-neutral technologies based on the use of green hydrogen and methanol; in synergy with Swan sailing yachts – already sustainable – our product development will open up a new market segment that does not exist today.”

In terms of the sale’s specifics, Sanlorenzo will purchase 60% of the shares for €48.5 million. This amount is based on an enterprise value of €90.0 million. The remaining 40% of the shares will be bought by April 2028.

When deciding the price for the remaining shares, Sanlorenzo will look at two values: the initial agreed price of the shares and a calculated price based on Nautor Swan’s earnings, multiplied by nine.

Whichever of these two numbers is higher will be the price used to determine how much to pay for the shares at that future date. This ensures that the share price reflects the best possible value, whether it's based on their initial agreement or the company's performance.

The payments will be made with two-thirds in cash and one-third in shares. The agreement also requires Sawa to meet certain undisclosed conditions before the first closing.

“I have dedicated 26 years, together with a skilled and professional team, to developing and transforming this already famous and iconic shipyard into an international brand recognised for quality, elegance, and reliability, the key elements at Nautor Swan’s core,” says Leonardo Ferragamo, Nautor Group President.

“Today, my goal is to propel forward a brand that is so beloved and respected and ensure its longevity by entrusting it to one of the world's leading nautical groups, led by Massimo Perotti, one of the most brilliant entrepreneurs in the marine industry. This will enable it to reach the many and important potentials for which we have worked with passion and dedication over the years.” Ferragamo will also maintain a significant minority share, allowing the executive to transfer his knowledge and experience to the company.

For over half a century, Nautor Swan has established itself as one of the top sailing yacht shipyards. Founded in 1966, Nautor Swan has since developed a comprehensive range of services, including Nautor Swan Charter and Brokerage, Nautor Swan Global Service, which provides global assistance, and ClubSwan Racing, its sports division.

The Boatbuilding Technology Centre (BTC) in Pietarsaari, Finland, will remain Nautor Swan’s main production site. The partnership will also enhance research and development efforts, particularly in sustainability, already initiated with the Swan 88 project.

“The union of the two brands Sanlorenzo-Nautor Swan – each with its own exclusive and limited offer, dedicated to a proper audience of connoisseurs, not overlapping – will create a unique nautical pole in the world. The best of motor and sailing yachting,” adds Perotti.

“We are talking about an ultra-exclusive niche brand whose philosophy is perfectly consistent with that of Sanlorenzo. Swan's heritage is recognised worldwide for its key elements: elegance, quality, performance combined with construction solidity thanks to advanced engineering techniques, innovation and unparalleled seaworthiness.”

The law firms Visconti & Associati and Musumeci, Altara, Desana e Associati assisted Sawa and Sanlorenzo, respectively, with legal aspects of the transaction. Financial and strategic advisory services were provided by Mediobanca, Deloitte, Andersen Italia, Heritage Holdings, and CC & Soci.

Profile links

Sanlorenzo

Click here to become part of The Superyacht Group community, and join us in our mission to make this industry accessible to all, and prosperous for the long-term. We are offering access to the superyacht industry’s most comprehensive and longstanding archive of business-critical information, as well as a comprehensive, real-time superyacht fleet database, for just £10 per month, because we are One Industry with One Mission. Sign up here.