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Giovanni Costantino on a possible acquisition of Perini Navi

New production spaces for the brand “Tecnomar for Lamborghini 63”, an important investment for the expansion of in-water facilities, the construction of a new 145×50 meter basin equipped with workshops, offices and yachting services and the coverage of the current 200-meter basin. These are some of the development projects that Giovanni Costantino, CEO and Founder of The Italian Sea Group, enumerates to take stock of the Group he created in 2009, and which today brings together brands of excellence such as Admiral, Tecnomar, the new Tecnomar for Lamborghini 63 and NCA Refit. A series of projects that today support the construction of 14 units and the work of NCA Refit which, last year, completed the works on board M5 (formerly Mirabella V), the world’s largest slooper with its 78 meters in length. Added to this, Giovanni Costantino expresses his interest in a possible acquisition of Perini Navi. 

Giovanni Costantino

Mr. President, where does the idea for this initiative come from?Giovanni CostantinoInterest in Perini Navi is almost a logical consequence of my career. At first, reading the newspapers, I believed that the old management was organized to recover from the negative situation. Alternatively or even in addition, there was Sanlorenzo’s interest. I therefore considered it right and appropriate not to waste my time and, therefore, not to intervene. When I read about the bankrupt, I was very sorry. Then, I told myself that we absolutely had to get involved. The most beautiful Perini units have been coming to NCA Refit for four years.

The Perini Navi 25 mt Eco Tender

You therefore have direct knowledge of their sailing ships, haven’t you?
G.C. Yes, we have. We have even received the Maltese Falcon. I have often wondered why they came to us and did not go to Viareggio. Evidently the client felt, and he does, more peaceful here than elsewhere. The proof is that, today, our shipyard is refitting three Perini yachts. Furhermore, in the last two years, about thirty Perini Navi collaborators have asked to come and work with us. Consequently, the true sailing know-how has moved to our Group.

The Maltese Falcon

Does The Italian Sea Group have the appropriate skills to build sailing yacht? 
G.C. We’re currently building two large-sized catamarans: a motor-powered and a sailing-powered one. So, I felt that all the elements were positioned in such a way as to be able to guarantee a certain continuity with Perini Navi. We shouldn’t be doing anything more than what we are currently doing . We have excellent relationships with the most important international brokers, we have a very high level of quality and organization thanks to the human and economic investments we have made over the years and continue to make. I do not see any management difficulties in following this additional product category as well.

Is it an extremely concrete interest? 
G.C. The interest exists and it is strong. We will follow it with commitment. Of course, possible costs, assets and employee-related issues must be taken into account. Luckily, we have been hiring people for ten years, but the commitments they undertake must be carefully evaluated.

The Perini Navi 92m Falcon Rig Concept

In the event of your acquisition of Perini Navi, is there no risk of overlapping the former Picchiotti shipyard with the Admiral and Tecnomar brands?
G.C. I don’t think so. We have managed the differentiation between Admiral and Tecnomar in a strong and clear way and given a channel to the NCA brand that switched from the construction of commercial ships to refitting activites. I believe that we will also be able to channel a product approach for the eventual former Picchiotti brand. As for assets, we are strongly interested in both Turkey, Viareggio and La Spezia plants. Especially the latter. Our Carrara-based headquarters need more space if we want to grow further with new projects. Our interest in the three production sites would still be equivalent but it will be necessary to understand how the Official Receiver is going to manage the Perini Navi case. We will monitor developments closely.

Emilio Martinelli

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