Through the operation, the Italian giant aims to strengthen its offshore and subsea capabilities

Fincantieri has finalised on 27 December an agreement to entirely acquire Remazel Engineering, an Italian company focused on offshore and subsea solutions, such as highly complex systems for handling, lifting, anchoring, launching, and recovery systems for underwater vessels.

Remazel’s solutions are mainly used in sectors involving the offshore segment’s energy transition and in the production of critical components for gas turbines.

With the acquisition, Fincantieri aims to strengthen its position as an international marine and subsea energy sector operator. In particular, the operation should enable the shipbuilding giant to expand its end-to-end solutions offer, consolidate its presence in after-sales activities, and focus on digital services and logistics support with high operational complexity.

The acquisition, fully financed through Fincantieri’s resources, should be closed by the first quarter of 2024. The agreement, first disclosed in December, was based on an enterprise value of €78 million for Ramazel and subject to certain adjustments.

Pierroberto Folgiero, Chief Executive Officer of Fincantieri, commented: “The transaction represents the first important step in the development strategy in the field of offshore and subsea technological operations, while at the same time favoring the consolidation in Italy of one of the excellences of the national industrial sector. The distinctive engineering and technological skills of Remazel, a leader in its sector, allow the group to consolidate its role as an integrator of complex systems and as a partner for our customers throughout the life of the vessel and its most value-added equipment.”

With operational offices in Trieste, as well as in China and Brazil, in 2022, Remazel recorded revenues of over €100 million, with over 160 employees located mainly in Italy.

“Remazel’s current positioning also allows Fincantieri to strengthen its position in fast-growing sectors, such as underwater operations and offshore wind, covering the highest value-added activities in the value chain. Diving, in particular, represents the new geopolitical domain of great strategic importance in both the civil and defence sectors,” added Folgiero.