Platinum Equity has signed a definitive agreement to sell De Wave Group, an Italy-based provider of integrated marine interior and technical systems for the cruise and yacht industries. Financial terms were not disclosed, and the transaction is expected to close by the end of 2026 following regulatory approvals.
Platinum Equity acquired De Wave in October 2019. During the firm’s ownership, De Wave more than doubled revenue and EBITDA, expanded internationally, and increased its backlog to more than €1 billion despite significant disruption to the cruise industry during the COVID-19 pandemic.
The company generated record fiscal 2025 revenue of more than €400 million and EBITDA exceeding €50 million. Its backlog increased from approximately €500 million at acquisition to more than €1 billion.
Platinum also supported several add-on acquisitions that expanded De Wave’s products, technical capabilities, and international footprint, while pursuing operational improvements across pricing, sourcing, project execution, technology, health and safety, and margin discipline.
De Wave supports shipowners and shipyards throughout the vessel lifecycle, including new-builds, refits, upgrades, design and engineering, manufacturing, project management, onboard installation, after-sales service, repair, and maintenance.
De Wave CEO Riccardo Pompili said the company will work with Renaissance Partners as it begins its next chapter.
Lazard, Clearwater, and UniCredit are serving as financial advisors to Platinum Equity, while Ropes & Gray is serving as legal counsel.
KEY QUOTES:
“When we acquired De Wave, we saw a technically strong business with the potential to become a more integrated global leader. Within months, the company was operating near the epicenter of Europe’s initial COVID-19 outbreak while serving an industry brought to a near standstill. Riccardo and his team showed great leadership and together we rebuilt the business. It’s a remarkable story of achievement, perseverance and teamwork.”
Louis Samson, Co-President of Platinum Equity
“De Wave is a compelling example of what our team can achieve in close partnership with management. We believe our operational focus and the combined strength of our investment, operations and capital markets teams helped strengthen leadership, improve execution and build a more integrated and resilient platform through organic growth and M&A.”
Fernando Goni, Managing Director at Platinum Equity
“Platinum Equity was a committed partner throughout an extraordinary period for our industry. The team acted decisively, supported our leadership and gave us the resources to invest in De Wave’s future. Together, we expanded our capabilities, strengthened our international presence and created a more integrated platform that can support customers throughout the lifecycle of a vessel. I am deeply grateful to our employees for their dedication and proud of what we have achieved. We look forward to working with Renaissance Partners as we begin our next chapter.”
Riccardo Pompili, Group CEO of De Wave
