The Ferretti Group is a worldwide leader in designing, manufacturing and selling luxury motor yachts – and Permira’s backed them twice. We supported them first in growing from a family business into a successful IPO, increasing the value of production from €57m in 1998 to €188m in 2000. At exit in 2007 (following further backing in 2002), Ferretti was the worldwide leader in luxury motor-yachts in 5 continents with 9 brands and almost €1bn of sales it worked on nine brands across five continents.
Ferretti Group
Together we achieved
- The evolution of Ferretti into a worldwide market leader through consolidation of 14 companies in one successful group
- The transformation of the company from an entrepreneurial business into a truly managerial company
- The continuous expansion of the business and full consolidation
- The exit in 2007, generating 2.3x cost
This was accomplished by
- Making strategic acquisitions in each key sub-sectors such as Itama, as well as ensuring integration into key activities including boat painting and furniture making (Pinmar and Zago)
- Enlarging the manufacturing footprint by opening new sites (Cattolica for Ferretti, La Spezia for Riva, Morini for CNR, Torre Annunziata for Aprea and Fano for Pershing)
- Making significant investments in new models: on average, nine per annum
- Strengthening the organisation to support organic growth
The metrics
€698m
Transaction value
2002
Acquisition year
2.3x
ROI
2007
Exit year
CAGR entry to exit
Sales - 21%
EBITDA - 17%