Ropes & Gray Advises Platinum Equity on Agreement to Sell De Wave Group

Ropes & Gray has advised global investment firm Platinum Equity on the signing of a definitive agreement to sell De Wave Group ("De Wave"), a leading provider of integrated marine interior and technical systems solutions for the cruise and yacht industries. The transaction is subject to customary regulatory approvals and is expected to close by the end of 2026.

Headquartered in Genoa, Italy, De Wave supports shipowners and shipyards throughout the vessel lifecycle, from newbuilds to refits and upgrades. Its capabilities span design and engineering, manufacturing, project management and onboard installation, after-sales services, ship repair and maintenance.

Platinum Equity acquired De Wave in October 2019. During Platinum Equity's ownership, De Wave more than doubled revenue and EBITDA, grew its backlog to more than €1 billion, and expanded its international footprint, all while navigating one of the most challenging periods in the history of the global cruise industry.

The Ropes & Gray team was led by private equity partners Cataldo Piccarreta and Giorgia Lugli, with support from associates Federica Di Terlizzi and Alvise Ometto, and trainees Marianna Pessi, Laura Giugiario, and Alessandra Scaglione. Counsel Niccolò Vernillo and associate Lorenzo Russo advised on finance matters, counsel Luca Amicarelli on regulatory aspects, and counsel Jacopo Figus Diaz on FDI and antitrust matters. Additional support was provided by U.S. tax partner Zhen Zhang.