Lamberto Tacoli, former CEO of Ferretti Group-owned CRN, assumed the responsibilities of CEO at Perini Navi in 2017 when the Italian / Turkish yacht builder was valued at €54 million.
Today, Lamberto Tacoli leads his Board of Directors through a procedure aimed at restructuring the company’s financial indebtedness hopefully through a debt restructuring agreement in order to preserve the Company’s operational and business continuity.
Making use of a crisis management tool to overcome significant financial strain, he has filed an application under Italian insolvency laws to protect the company from action by creditors.
According to Milano Finanza, an Italian national weekly business newspaper,
The company’s search for an exit strategy comes at a time when the yacht builder, whose turnover is €55 million, has a negative earnings before interest, taxes, depreciation, and amortisation of €25 million and a debt between banks and suppliers of €55 million.
Perini Navi was sold in 2017 with the Tabacchi family, whose wealth followed the sale of their optician chain, Salmoiraghi & Viganò, acquiring 49.9% of the company. It was reported at the time that they paid €27 million for their share. Fabio Perini the group founder, retained a 50,1% stake in the company and was transition to the role of honorary chairman in the process and Lamberto Tacoli, became CEO. Subsequently it has been reported that the family increased their stake in the company from 49.99% to 74%, with an overall investment of 40 million euros.
One possible saviour might be Massimo Perotti of SanLorenzo a more successful Italian builder of superyachts. Perotti has confirmed that Sanlorenzo has an exclusive period of two months in which to conduct due diligence.
It has been muted that a 40 million euro investment from both Sanlorenzo and the Tabacchi family could see a turnaround in the fortunes of Tuscany-based Perini Navi who have some good contracts for yachts currently in build.
Not everyone is happy! A press release issued by the FIOM Tuscany (Tuscan unions) worried that risk of a local monopoly could create problems for workers in the nautical industry within Viareggio as a result of this agreement.