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.”

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

China Passes New Pollution Law, Will Cap Coal Consumption

Legislators have approved amendments to China's 15-year-old air pollution law that grant the state new powers to punish offenders and create a legal framework to cap coal consumption,

Marad Celebrates Deployment of Maritime Fuel Cell Project

The U.S. Department of Transportation’s Maritime Administration (MARAD) today celebrated the launch of field trials for the first prototype hydrogen fuel cell

Gazprom, OMV Meet on Establishing Nord Stream JV

At a Meeting held at the Gazprom headquarters between Alexey Miller, Chairman of the Company's Management Committee and Rainer Seele, Chairman of the Executive Board of OMV,

Finance

TASI Acquires SignalFire Telemetry

TASI HOLDINGS INC. announced today it has completed the acquisition of all shares of SignalFire Telemetry, located in Hudson, Massachusetts.  This new acquisition

DP World Profit Up 22%

Global marine terminal operator DP World today announced strong financial results from its global portfolio of marine terminals for the six months to 30 June 2015,

Med Crude-Russian Urals Edges Lower in Med, Baltic

Russian Urals crude weakened in the Mediterranean and in the Baltic on Friday, while trading activity was limited ahead of a long holiday weekend in Britain, traders said.

News

China Passes New Pollution Law, Will Cap Coal Consumption

Legislators have approved amendments to China's 15-year-old air pollution law that grant the state new powers to punish offenders and create a legal framework to cap coal consumption,

Marad Celebrates Deployment of Maritime Fuel Cell Project

The U.S. Department of Transportation’s Maritime Administration (MARAD) today celebrated the launch of field trials for the first prototype hydrogen fuel cell

Gazprom, OMV Meet on Establishing Nord Stream JV

At a Meeting held at the Gazprom headquarters between Alexey Miller, Chairman of the Company's Management Committee and Rainer Seele, Chairman of the Executive Board of OMV,

Vessels

Marad Celebrates Deployment of Maritime Fuel Cell Project

The U.S. Department of Transportation’s Maritime Administration (MARAD) today celebrated the launch of field trials for the first prototype hydrogen fuel cell

Volvo Penta Debuts Marine Gas Sterndrive Engines

Volvo Penta today unveiled its new family of next-generation 5.3L V8 gasoline engines for the marine sterndrive market in a press preview at the company’s Test Center in Suffolk, Va.

MN 100: Bouchard Transportation

The Company: Bouchard Transportation’s history dates back to its incorporation in 1918 by founder, Capt. Fred Bouchard, the youngest tugboat captain in the Port of New York.

Classification Societies

ClassNK Verifies lino Marine Service GHG

Classification society ClassNK has carried out the independent third-party verification of Iino Marine Service’s greenhouse gas (GHG) emissions inventory based on a reasonable level of assurance.

ClassNK to Issue Guidance on Composite Propellers

Classification society ClassNK announced it will release the world’s first Guidelines on Composite Propellers (Part on Manufacturing/Product Inspection) on August 31.

IRS Opens Office in Abu Dhabi

Indian Register of Shipping (IRClass), a leading Classification Society, today announced it has opened offices in Abu Dhabi. Abu Dhabi is the second office

 
 
Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.1895 sec (5 req/sec)