Platinum Equity to sell De Wave

Platinum Equity said on September 8 that it has signed a definitive agreement to sell De Wave Group, a marine interiors and technical systems supplier serving cruise and yacht customers. The buyer was not named, and financial terms were not disclosed. The Los Angeles-based private equity firm said the transaction is subject to customary regulatory approvals and is expected to close by the end of 2026. De Wave is based in Genoa, Italy, and provides integrated marine interior and technical systems solutions for the cruise and yacht industries. Platinum acquired the business from Xenon Private Equity in October 2019, in what the firm described at the time as its first investment in Italy. (prnewswire.com) ### What exactly is De Wave selling into? De Wave specializes in cruise ship and yacht interiors, including cabins, bathroom units, galley catering systems and public areas, according to Platinum Equity’s portfolio page. The company also offers upgrade, maintenance and spare-parts services across the vessel lifecycle. (prnewswire.com) The group operates facilities in Italy, Poland, Singapore and the United States, with vertically integrated production lines, Platinum said when it bought the company. On its current company profile, Platinum says De Wave has 30,000 square meters of combined production area. ### What changed during Platinum’s ownership? (platinumequity.com) Platinum Equity said De Wave more than doubled revenue and EBITDA during its ownership and surpassed a backlog of more than €1 billion. The firm said the company was repositioned through operational changes and expansion of its capabilities. (platinumequity.com) De Wave also expanded through acquisitions. Platinum’s portfolio page says the group acquired Tecnavi in March 2022, FCR Finland in April 2022 and Mobil-Line in June 2022. De Wave said separately in November 2025 that it had completed four more acquisitions — IVM, Electrical Marine, O.M. Project and Cantieri Navali San Carlo — lifting consolidated revenue above €450 million, with 1,400 employees across 12 operating sites and a presence in nine countries. (prnewswire.com) Riccardo Pompili, De Wave’s group chief executive, said in an April 2025 company release that the business had signed €630 million of orders in six months with luxury cruise operators. That disclosure offered an earlier snapshot of demand before Platinum’s sale announcement cited backlog above €1 billion. (platinumequity.com) ### Why is Platinum exiting now? Louis Samson, Platinum Equity’s co-president, said when the firm bought De Wave in 2019 that the company was “an experienced and highly respected partner” to major shipbuilders and operators. In the 2026 sale announcement, Platinum said the exit follows a “multi-year transformation,” language the firm has used in other portfolio sales after operational improvement programs. (dewavegroup.com) Platinum has described itself as a private equity and credit investor with about $48 billion in assets under management and more than 550 acquisitions to date. The firm’s deal-activity page says it completed 11 divestitures in the last 12 months shown on the site. ### How important is De Wave to Platinum’s Italy presence? Platinum said in 2019 that De Wave was its first investment in Italy. (platinumequity.com) In the new sale announcement, the firm said the transaction underscores its commitment to investing and operating in Italy. De Wave has remained one of Platinum’s identified European industrial holdings. (platinumequity.com) Platinum said in a 2022 article on its European business that its regional portfolio included Italy-based De Wave alongside other Europe-headquartered companies. ### What happens next in the process? (platinumequity.com) The September 8 announcement says the deal has been signed but still requires customary regulatory approvals before closing. Platinum said the transaction is expected to close by the end of 2026, and neither the buyer’s identity nor the sale price was disclosed in the announcement. (prnewswire.com) (platinumequity.com)