Intesa Sanpaolo, Vei Capital Invest in RINA

MarineLink.com
Thursday, April 17, 2014
Photo courtesy RINA

Intesa Sanpaolo, through the Merchant Banking Management of its Corporate and Investment Banking Division, and VEI Capital, investment company of Palladio Finanziaria in the Private Equity Mid-Cap segment, have agreed to buy a stake in RINA S.p.A., parent company of the RINA Group, Italy’s E-TIC (Engineering, Testing, Inspection, Certification) service provider.

The initial 25 million euros investment by Intesa Sanpaolo and VEI Capital, which will be underwritten by and shared equally between the two partners, may be increased to a possible 100 million euros on the strength of subsequent capital increases and backing for acquisitions.

The financial resources and expertise of the new partners is designed to support and accelerate the growth and internationalization process which RINA has initiated in recent years. VEI Capital and Intesa Sanpaolo are undertaking this investment project to help strengthen RINA’s position as a key world-class player in certification and consulting engineering, with a view to a possible stock exchange listing in the medium-term.

Today, RINA is a multinational group specialized in classification, certification, testing, inspection, training and consulting engineering services in shipping, energy, transport and infrastructure, environment and innovation.

RINA operates through companies dedicated to its specialist sectors. It has a network of 163 offices in 57 countries and over 2,500 employees, whose commitment has contributed to achieving a turnover which, with the latest acquisitions, exceeds 320 million euros.

“As a financial partner, Intesa Sanpaolo intends to back the company to accelerate the completion of its evolution process that is already under way”, stated Marco Cerrina Feroni, head of Intesa Sanpaolo Merchant Banking Management. - “Indeed, the investment represents an opportunity to take a stake in an historical company of Italian heritage, very well-managed and with excellent growth opportunities, completing a path of major strategic and managerial change”.

“The operation,” said Sergio Ravagli, Managing Partner of Palladio Finanziaria, “comes within the context of ‘expansion capital’ investment in companies with a high development potential, as recently occurred with inflow into the capital of the Fila group. The backing of financial partners in respect of a sound and well-prepared management will enable the RINA Group to take up new growth opportunities in Italy and abroad”.

"The decision of two prestigious financial groups such as Intesa Sanpaolo and VEI Capital to invest in our company gives us immense satisfaction," confirmed Ugo Salerno RINA S.p.A. President and CEO - "Their stake in our company offers us additional and decisive development opportunities in terms of both growth and also acquisitions in order to develop a leading national organisation to compete with key international players.”


People & Company News

MN100: BlueTide Communications

The Company: BlueTide is a leader in the provisioning, implementation, monitoring and support of satellite equipment. Combining the power of HUGHES proprietary

Transas to Unveil the ‘Future of Maritime Operations’

Today's maritime industry requires realistic solutions and concepts for a modern, integrated operational infrastructure that delivers a sustainable, viable future,

Hammond New International Sales Manager, Fairline Yachts

British luxury motor yacht manufacturer, Fairline Yachts, announces Robert Hammond as its new International Sales Manager. Robert will be responsible for Fairline's

Finance

Meyer Turku Continues Shipyard Investments

Meyer Turku shipyard  has further enlarged it’s investment package with a new 75 million euro steel storage and pretreatment facility. This is already a third large

Carriers have Withdrawn Extremely Low Spot Market Freight Rates - Drewry

Drewry’s Global Freight Rate Index, a weighted average of spot container freight rates across all major routes except intra-Asia, swung back in July by 13% to reach $1,403 per 40ft box.

Hapag-Lloyd Cruises Orders Two Vessels

TUI Group, the world’s number one tourism group, will invest in two new-builds for its Hamburg-based subsidiary Hapag-Lloyd Cruises. The two, new, 5-star expedition

News

Five Vessels Delivered for Qatar’s New Port Project

Nakilat Damen Shipyards Qatar (NDSQ) has delivered five vessels as part of an 11-vessel order for New Port Project (NPP). Built entirely at the Erhama Bin Jaber

MN100: BlueTide Communications

The Company: BlueTide is a leader in the provisioning, implementation, monitoring and support of satellite equipment. Combining the power of HUGHES proprietary

Transas to Unveil the ‘Future of Maritime Operations’

Today's maritime industry requires realistic solutions and concepts for a modern, integrated operational infrastructure that delivers a sustainable, viable future,

Vessels

Five Vessels Delivered for Qatar’s New Port Project

Nakilat Damen Shipyards Qatar (NDSQ) has delivered five vessels as part of an 11-vessel order for New Port Project (NPP). Built entirely at the Erhama Bin Jaber

New Tour Vessel for Mary D Cruises

A new high-end tour vessel is scheduled to be delivered to for Mary D Cruises of New Caledonia in late 2016.    Designed by Incat Crowther with styling reminiscent of a yacht,

C-Job Designs Flettner Freighter for Switijnk

The Dutch shipping company family Switijnk has contracted C-Job Naval Architects to develop a Rotor Sail-equipped design to meet their specific loading and sailing profile.

Classification Societies

ABS Makes it Safer to ‘Walk to Work’

ABS announced the publication of The ABS Guide for Certification of Offshore Access Gangways. The new Guide addresses certification for safety systems used for “walk to work” (W2W) crew transfers.

MN100: ClassNK America

The Company: ClassNK is dedicated to ensuring the safety of life and property at sea, and the prevention of pollution of the marine environment. Bolstered by a workforce of more than 1800 engineers,

Fednav's New Bulker Features High-tech BWT System

Fednav Limited,  an  international bulk shipowner in Canada, has welcomed to the Port of Indiana – Burns Harbor, the Federal Caribou, one of seven new oceangoing

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pipelines Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1179 sec (8 req/sec)