Platinum Equity to sell De Wave after doubling revenue past €400M
What's the deal? Platinum EquityDealroom has a profile for this one. Try Dealroom → has signed a definitive agreement to sell De Wave GroupDealroom has a profile for this one. Try Dealroom →, a Genoa-based provider of marine interiors and technical systems for the cruise and yacht industries, to Renaissance PartnersDealroom has a profile for this one. Try Dealroom →. Financial terms were not disclosed. The deal is subject to regulatory approvals and is expected to close by the end of 2026.
The context: De Wave supports shipowners and shipyards across the vessel lifecycle, from newbuilds to refits. Its work spans design, engineering, manufacturing, installation, after-sales services, and ship repair. Platinum Equity, a US private equity firm, acquired the company in October 2019.
The numbers: Under Platinum's ownership, De Wave more than doubled revenue and EBITDA, hitting record fiscal 2025 revenue of more than €400 million and EBITDA above €50 million. Its backlog grew from roughly €500 million at acquisition to more than €1 billion, spanning both newbuild and refit work.
Why now? The sale caps a turnaround shaped by crisis. Months after Platinum bought De Wave, the pandemic halted cruise sailings and deferred newbuild activity, leaving the company operating near the epicentre of Europe's initial COVID-19 outbreak while its industry stalled.
What changed? Platinum elevated Riccardo Pompili to group chief executive officer during the pandemic and added senior leaders through hires and promotions. It also completed a series of add-on acquisitions that widened De Wave's product range, technical capabilities, and international footprint.
"When we acquired De Wave, we saw a technically strong business with the potential to become a more integrated global leader," said Louis Samson, co-president of Platinum Equity. He called the outcome "a remarkable story of achievement, perseverance and teamwork."
Pompili said Platinum "acted decisively, supported our leadership and gave us the resources to invest in De Wave's future," adding that the team looks forward to "working with Renaissance Partners as we begin our next chapter."
The signal: The exit underscores Platinum's continued appetite for investing and operating in Italy, and shows how private equity can build integrated industrial platforms through downturns. For De Wave, a €1 billion backlog offers its new owner rare visibility in a cruise market only recently recovered from near-total shutdown.
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