Platinum Equity to sell De Wave

Platinum Equity said on September 8 that it will sell De Wave Group, the Italian marine-interiors contractor it acquired in October 2019, after what it described as a multi-year operational transformation. The Los Angeles-based buyout firm said De Wave more than doubled revenue and EBITDA during its ownership and has now surpassed a backlog of more than €1 billion. Financial terms and the buyer were not disclosed in the announcement. De Wave is based in Genoa and supplies cruise ship and yacht interiors, including cabins, bathroom units, galley systems and public areas. Platinum’s portfolio page says the company also provides upgrade, maintenance and spare-parts services and operates facilities in Italy, Poland, Singapore and the United States. (prnewswire.com) ### How much changed while Platinum owned the business? October 2019 marked Platinum’s entry into De Wave, when it bought the company from Xenon Private Equity in a deal whose terms were not disclosed. At the time, Platinum said De Wave operated five facilities and specialized in new-build and refit work for shipbuilders and cruise operators. (platinumequity.com) November 2025 brought a new milestone for De Wave, when the company said revenue had surpassed €450 million after four acquisitions. De Wave said then that it had 1,400 employees across 12 operational sites, seven production plants and operations in nine countries. January 2026 added another acquisition. De Wave said it bought DL Services, a marine galley design and technical-components business, and said the deal would help push group revenue above €500 million in 2026. (platinumequity.com) ### What did Platinum say the sale represents? Louis Samson, Platinum Equity co-president, said in the September 8 release that the De Wave investment marked “another important milestone” for Platinum in Europe. (dewavegroup.com) The firm said the transaction underscores its commitment to investing and operating in Italy, where De Wave was Platinum’s first investment. (dewavegroup.com) Platinum has presented De Wave as a buy-and-operate case rather than a purely financial holding. Its 2019 acquisition statement said the company would pursue long-term expansion through organic growth and acquisitions, with a focus on broadening the product portfolio and adding higher-value services. (prnewswire.com) ### What does De Wave look like today? De Wave’s current website describes the group as an integrated contractor serving cruise ships and yachts across design, engineering, manufacturing, installation and after-sales work. The company says 40% of its production is now in-house and highlights operations spanning Europe, Asia and the Americas. Genoa remained the center of the group’s recent expansion. (clearwatercf.com) De Wave said in January that it had 1,500 employees, seven production facilities and 13 operational offices after the DL Services deal. ### What is still missing from the announcement? September 8’s statement did not identify the buyer, the advisers, the expected closing date or any regulatory conditions. (dewavegroup.com) Platinum also did not say whether management, including Chief Executive Riccardo Pompili, would remain with the business after closing. (dewavegroup.com) The next concrete disclosure is likely to come from Platinum Equity, De Wave or the eventual buyer in a signing or closing statement. As of September 8, the only public sale announcement is the PR Newswire release issued from London by Platinum Equity. (prnewswire.com)