Canados, the long established Roman shipyard, announces that the European Private Equity Fund Balmoral Capital has acquired control of the company. The acquisition is in line with the fund’s investment strategy to acquire companies with strong growth potential.
Agostino Ascani, Balmoral’s Italian partner and new chairman of the board said “Canados is a remarkable company that has all the elements we target as an investor: a strong brand in a growing market, skilled and dedicated workforce and a product of outstanding quality. Our intention is to support its growth through targeted investments and new resources.” To pursue its strategic objectives, Balmoral Capital has appointed Maurizio Baldoni as the new CEO of the company. He has also invested personally in the share capital of the group. Maurizio Baldoni has been a leading figure in the nautical sector for over 30 years and was already responsible for Canados’ growth at the end of the ‘80s. Having successfully led other prestigious North-Italian shipyards, he is returning to Canados. “It has always been my dream to return to Canados. The historic reputation of the yard, the skill set and dedication of its workforce, and the yard’s favourable geographic position are the key to Canados’ outstanding potential”.
Canados (acronym for Cantieri Navali di Ostia) is a leading company in the design, manufacturing and sale of motor yachts between 23 and 35 metres established in the mid ‘40s. Since its establishment the company has launched over 600 motor yachts and over 100 sail boats. One of the most traditional Italian brands in the Mediterranean nautical sector, in recent years Canados has attracted the growing attention of the international markets.
Balmoral Capital is a UK based private equity fund established in 2004 as a spin out of experienced European investment professionals from the Credit Suisse Group. The fund invests in Europe, especially in the UK, Italy and France, in companies with defensible competitive positions and superior growth potential.