Platinum Equity Agrees Sale of De Wave Group

Platinum Equity has signed a definitive agreement to sell De Wave Group to Renaissance Partners, opening a new ownership chapter for the Genoa-headquartered marine interiors and technical systems business. The transaction is subject to customary regulatory approvals and is expected to close by the end of 2026, while financial terms have not been disclosed by Platinum Equity.

De Wave works across the cruise and yacht sectors, supporting shipowners and shipyards through newbuild, refit and upgrade programmes. Its capabilities cover design and engineering, manufacturing, project management, onboard installation, after-sales services, ship repair and maintenance, making the ownership change relevant to the wider superyacht supply chain rather than to cruise interiors alone.

Platinum Equity signs an exit after seven years

Platinum Equity acquired De Wave in October 2019, shortly before the global cruise industry entered the disruption created by the pandemic. The investment firm says the business subsequently more than doubled both revenue and EBITDA from acquisition levels while expanding its international footprint and completing a series of strategic add-on acquisitions.

For fiscal 2025, Platinum Equity reports revenue of more than €400 million and EBITDA above €50 million. The company also says De Wave's total backlog expanded from approximately €500 million at acquisition to more than €1 billion, providing forward visibility across the newbuild and refit activities that now form the operating platform.

The seller has not published a transaction value, so the scale of the business should not be confused with the price of the deal. The confirmed financial indicators are De Wave's reported operating performance and backlog, while the consideration paid by Renaissance Partners remains private unless either party chooses to disclose it later.

From cruise disruption to a broader marine platform

De Wave is headquartered in Genoa and operates across Europe, Asia and the Americas. Platinum Equity describes the group as a provider able to support customers through the vessel lifecycle, from the design and manufacture of interior and technical systems through installation, after-sales support, repair and later upgrade work.

That lifecycle approach has direct relevance to large yachts because interior contractors increasingly work across both new-build and refit programmes. A supplier that can manage engineering, manufacturing, project delivery and onboard installation has a different relationship with a yard or owner team from a business supplying a single finished product, particularly when work must be coordinated with multiple technical trades aboard a complex vessel.

Platinum Equity says it strengthened De Wave's leadership during its ownership, including elevating Riccardo Pompili to Group CEO and making further leadership hires and internal promotions. It also cites work on pricing, sourcing, project execution, technology, health and safety and other operating disciplines as part of the transformation undertaken since 2019.

Renaissance Partners becomes the next owner

Platinum Equity's announcement identifies Renaissance Partners as De Wave's next partner, and Pompili says the group looks forward to working with the firm in its next chapter. The transaction remains conditional until the necessary regulatory processes are completed, so De Wave has not yet changed hands simply because the definitive agreement has been signed.

The expected closing timetable is by the end of 2026. Until completion, the distinction between signing and closing matters because ownership, control and the final legal transfer remain subject to the conditions set out in the transaction documents and any applicable regulatory approvals.

No announcement has been made of a management departure associated with the transaction. Pompili's statement instead emphasises continuity, the capabilities built under Platinum Equity and the prospect of developing De Wave further with Renaissance Partners, while the existing workforce and operational footprint are presented as part of the platform moving into the next phase.

Why the transaction matters to superyacht businesses

De Wave's scale gives the transaction importance beyond conventional private-equity news. A backlog above €1 billion, reported revenue above €400 million and a network serving multiple continents place the group among substantial marine project businesses whose investment decisions can influence capacity, recruitment, supplier relationships and the ability to execute large interior programmes.

The yacht sector is specifically included in Platinum Equity's description of De Wave's activities. That means the future strategy adopted under Renaissance Partners could matter to yards and project teams looking for integrated interior and technical capability, particularly on large new builds and refits where schedule control and the coordination of specialist trades can become critical-path issues.

The sale also arrives during a period in which large-yacht refit is attracting greater institutional attention across the marine industry. De Wave's combination of newbuild, refit, repair and maintenance work means it is positioned across several stages of the yacht lifecycle, rather than relying solely on the timing of new-yacht construction contracts.

A business entering its next investment cycle

Platinum Equity presents its exit as the result of a multi-year operational transformation that took place through unusually difficult conditions for the cruise sector. The firm's account credits management with navigating that disruption while growing the company, extending its capabilities and building a larger backlog, although those statements describe the seller's assessment of its ownership period rather than an independent valuation of the business.

For De Wave's yacht-industry customers, the immediate practical position is one of continuity while the transaction moves toward closing. Existing projects remain operational matters for the company, and the public announcement does not identify changes to current contracts, shipyard relationships or delivery schedules as a consequence of the proposed ownership transfer.

The next material milestone will be completion of the transaction, expected by the end of 2026 if regulatory conditions are satisfied. Until then, the confirmed development is that Platinum Equity has agreed to sell De Wave Group to Renaissance Partners after an ownership period in which the business reports substantial growth in revenue, EBITDA, international reach and forward backlog.

The announcement also shows why order visibility matters to a project-based marine contractor: a backlog above €1 billion represents work that must be engineered, manufactured and delivered over future periods rather than cash already earned. For customers and suppliers, execution against that backlog will remain a more meaningful operating measure than the ownership headline once the transaction closes.