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 June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Hornbeck Offshore Ride High on Q2 2014 Results

Hornbeck Offshore Services, Inc. has announced its financial results for the second quarter ended June 30, 2014.  Following are highlights for this period and excerpts

BAE Systems Awarded Two Navy Contract Modifications

The US Department of Defense informs it has awarded separate contracts to BAE Systems in Jacksonville and in Norfolk for ship repairs and modifications as follows: 1.

DW to Present at Upcoming Floating LNG 2014, Houston

Douglas-Westwood (DW) says that its manager in Houston, Andrew B. Meyers will be joining the speakers on the platform at the upcoming 27th-30th October 2014 'Floating

Finance

Hornbeck Offshore Ride High on Q2 2014 Results

Hornbeck Offshore Services, Inc. has announced its financial results for the second quarter ended June 30, 2014.  Following are highlights for this period and excerpts

BAE Systems Awarded Two Navy Contract Modifications

The US Department of Defense informs it has awarded separate contracts to BAE Systems in Jacksonville and in Norfolk for ship repairs and modifications as follows: 1.

Exxon Mobil Corporation Declares 3Q Dividend

The Board of Directors of Exxon Mobil Corporation yesterday declared a cash dividend of 69 cents per share on the Common Stock, payable on September 10, 2014 to

News

Exxon Mobil Corporation Declares 3Q Dividend

The Board of Directors of Exxon Mobil Corporation yesterday declared a cash dividend of 69 cents per share on the Common Stock, payable on September 10, 2014 to

FortisBC Set to Expand its Tilbury LNG Facility

FortisBC Energy Inc. today selected Bechtel Canada Co. (Bechtel) as the contractor for its Tilbury LNG Facility Expansion Project in Delta, B.C. (Project). The

Port Manatee's 3 projects to get underway

Port Manatee has been awarded a $1,837,500 security grant, allowing the port to proceed with three significant projects. The award, the second-highest for any

Vessels

Hornbeck Offshore Ride High on Q2 2014 Results

Hornbeck Offshore Services, Inc. has announced its financial results for the second quarter ended June 30, 2014.  Following are highlights for this period and excerpts

USCG Cutter Waesche Home from RIMPAC Exercises

The Coast Guard Cutter Waesche has returned to port at Coast Guard Base Honolulu, after spending three weeks at sea participating in Rim of the Pacific (RIMPAC) 2014 exercises,

Growing American Shipping Bill Introduced by Garamendi

Congressman John Garamendi (D-CA-03), Ranking Member of the House Transportation and Infrastructure’s Coast Guard and Maritime Transportation Subcommittee, informs ot the introduction of  H.

Classification Societies

MOL Ship Management Earns Energy/Enviromental Certifications

First company to receive ISO50001 certification from Nihon Kaiji Kyokai.   MOL Ship Management Co., Ltd. (MOLSHIP), a core ship management company in the corporate group headed by Mitsui O.

Joint Project Studies Condition-based Engine Monitoring

Classification society ClassNK announced that it will participate in a joint project together with Mitsui Engineering & Shipbuilding Co., Ltd. and MES Technoservice Co.

DNV Type Approved Anchor Winch for the Arctic Prowler

JK Fabrication has landed DNV certification for its 40-30-3000-DNV series Anchor Winch. Culminating a two-year process, JK’s C-series winch was at last awarded

 
 
Maritime Careers / Shipboard Positions Maritime Security Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.5269 sec (2 req/sec)