Key Takeaways
- • Platinum Equity signed a definitive agreement to sell De Wave Group, a Genoa-based marine interiors specialist, to Renaissance Partners, with closing expected by end of 2026 and financial terms undisclosed.
- • De Wave more than doubled revenue and EBITDA during Platinum's seven-year ownership (October 2019–September 2026), reaching record fiscal 2025 revenue exceeding €400 million and EBITDA surpassing €50 million.
- • Backlog expanded from approximately €500 million at acquisition to more than €1 billion today, providing multi-year revenue visibility across newbuild and refit segments despite pandemic disruption.
- • Platinum executed strategic leadership changes and add-on acquisitions to strengthen De Wave's product offering, technical capabilities, and international footprint while navigating unprecedented cruise industry disruption during COVID-19.
- • The exit underscores Platinum Equity's broader commitment to European operations and Italian market investment, with Fantini Group and Fratelli Polli remaining active portfolio companies.
Summary
Platinum Equity announced on September 8, 2026, the signing of a definitive agreement to sell De Wave Group to Renaissance Partners, concluding a transformational seven-year holding period that yielded substantial operational and financial improvements. The transaction is expected to close by the end of 2026, subject to customary regulatory approvals. Financial terms were not disclosed.
De Wave, headquartered in Genoa, Italy, provides integrated marine interior and technical systems solutions for the cruise and yacht industries. The company operates across the full vessel lifecycle, encompassing design and engineering, manufacturing, project management, onboard installation, after-sales services, ship repair, and maintenance. Its international network serves customers across Europe, Asia, and the Americas. Platinum Equity acquired the business in October 2019, entering the investment immediately before the cruise industry entered an unprecedented contraction triggered by the COVID-19 pandemic, which forced operators to pause sailings and defer newbuild and refit activity.
Under Platinum's ownership, De Wave more than doubled revenue and EBITDA from acquisition levels. Fiscal 2025 generated record revenue exceeding €400 million with EBITDA surpassing €50 million. Total backlog grew from approximately €500 million at acquisition to more than €1 billion today, providing substantial multi-year visibility into both newbuild and refit businesses. Platinum elevated Riccardo Pompili to Group CEO during the pandemic and strengthened the executive leadership team through strategic hires and internal promotions. The firm also completed a series of add-on acquisitions to expand product offerings, technical capabilities, and geographic footprint while implementing operational improvements in pricing, margin discipline, sourcing, project execution, and health and safety protocols.
Louis Samson, Co-President of Platinum Equity, characterized the investment as a "remarkable story of achievement, perseverance and teamwork," noting that De Wave operated near the epicenter of Europe's initial COVID-19 outbreak while serving an industry brought to a near standstill. Fernando Goni, Managing Director at Platinum Equity, attributed the operational improvements to the firm's focus on strengthening leadership and execution through organic growth and M&A activities. Pompili stated that Platinum "acted decisively, supported our leadership and gave us the resources to invest in De Wave's future."
Samson highlighted the exit as evidence of Platinum Equity's strategic commitment to investing in Italy and broader European markets. The firm has deliberately built its European platform with multilingual, culturally adept teams and maintains active Italian investments through Fantini Group, a specialty wine producer and exporter, and Fratelli Polli, a pasta sauces and condiments manufacturer. Lazard, Clearwater, and UniCredit served as financial advisors; Ropes & Gray provided legal counsel.
De Wave, headquartered in Genoa, Italy, provides integrated marine interior and technical systems solutions for the cruise and yacht industries. The company operates across the full vessel lifecycle, encompassing design and engineering, manufacturing, project management, onboard installation, after-sales services, ship repair, and maintenance. Its international network serves customers across Europe, Asia, and the Americas. Platinum Equity acquired the business in October 2019, entering the investment immediately before the cruise industry entered an unprecedented contraction triggered by the COVID-19 pandemic, which forced operators to pause sailings and defer newbuild and refit activity.
Under Platinum's ownership, De Wave more than doubled revenue and EBITDA from acquisition levels. Fiscal 2025 generated record revenue exceeding €400 million with EBITDA surpassing €50 million. Total backlog grew from approximately €500 million at acquisition to more than €1 billion today, providing substantial multi-year visibility into both newbuild and refit businesses. Platinum elevated Riccardo Pompili to Group CEO during the pandemic and strengthened the executive leadership team through strategic hires and internal promotions. The firm also completed a series of add-on acquisitions to expand product offerings, technical capabilities, and geographic footprint while implementing operational improvements in pricing, margin discipline, sourcing, project execution, and health and safety protocols.
Louis Samson, Co-President of Platinum Equity, characterized the investment as a "remarkable story of achievement, perseverance and teamwork," noting that De Wave operated near the epicenter of Europe's initial COVID-19 outbreak while serving an industry brought to a near standstill. Fernando Goni, Managing Director at Platinum Equity, attributed the operational improvements to the firm's focus on strengthening leadership and execution through organic growth and M&A activities. Pompili stated that Platinum "acted decisively, supported our leadership and gave us the resources to invest in De Wave's future."
Samson highlighted the exit as evidence of Platinum Equity's strategic commitment to investing in Italy and broader European markets. The firm has deliberately built its European platform with multilingual, culturally adept teams and maintains active Italian investments through Fantini Group, a specialty wine producer and exporter, and Fratelli Polli, a pasta sauces and condiments manufacturer. Lazard, Clearwater, and UniCredit served as financial advisors; Ropes & Gray provided legal counsel.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.