The incorporation of Fondo Italiano d'Investimento SGR into the shareholder structure of RINA S.p.A. has been successfully completed. The agreement includes a capital investment of up to 180 million euros, structured as equity. As part of the share distribution, Registro Italiano Navale will maintain a majority stake, while Fondo Italiano d'Investimento and other co-investors led by it will acquire a minority interest up to 33%. Additionally, the company's management will hold about 3.5% stake in the capital.
Concurrently, the new Board of Directors of RINA S.p.A. was established, which appointed Carlo Luzzatto as the CEO and General Manager of the company. Ugo Salerno remains in his role as the Executive Chairman, with responsibilities for communication and institutional relations.
These changes are part of the company's ongoing growth trajectory, focusing on evolving towards business models and services increasingly based on innovation and sustainability and on accessing the stock market within a timeframe of 3 to 5 years.
Davide Bertone, CEO of Fondo Italiano d’Investimento, said: “We are particularly happy and proud to be able to actively contribute to a phase of further growth and evolution of RINA. The company will increasingly play an international leading role in engineering and the certification of many sectors that are central to the technological transition”.
Ugo Salerno, Executive Chairman of RINA S.p.A., stated: "RINA is a company that, throughout its history, especially in recent times, has continually evolved, diversifying its business lines and reaching international markets. In doing so, the company has broadened its horizons and, in just over twenty years, has experienced exponential growth both in terms of employees and revenue. I am confident that the phase we have just embarked on will open us up to new challenges, allowing us to achieve even higher levels of excellence. I believe that Carlo Luzzatto is the right person to carry forward this plan. Today, we complete an operation that we began with Davide Bertone and Fondo Italiano d’Investimento, with whom we have been in complete harmony from the start".
Carlo Luzzatto, CEO and General Manager of RINA S.p.A., commented: "I am thrilled and excited to become part of this company with its fascinating history, which also brings me back to my hometown. I extend my gratitude to Registro Italiano Navale, Fondo Italiano d’Investimento, and the company management - particularly to Ugo Salerno - for the trust they have placed in me and to all my colleagues with whom we are already hard at work. In these first few weeks, I have confirmed that the skills and value of the people are the true wealth of the company. The pursuit of innovation, combined with a drive for digitalization, will be the cornerstone of RINA's future success".
Paolo d’Amico, Chairman of Registro Italiano Navale, added: “We stand alongside the management and the Board of Directors, confident that the skills and experience acquired by the appointment of Carlo Luzzatto represent significant added value for the Group. The important results achieved so far are merely a milestone in RINA's journey, a path guided by the values that have always characterised the company and the actions of its people: competence, passion, and curiosity".
Educated at some of the world's top business schools, Luzzatto boasts over thirty years of experience in the energy, aerospace and infrastructure sectors. Throughout his distinguished career, he has held senior leadership positions - both in Italy and internationally - at public and private companies, including General Electric Oil & Gas, Ansaldo Energia, Chromalloy, and Impresa Pizzarotti.
The Board of Directors of RINA S.p.A. is now composed as follows: Nazareno Cerni, Aldo Di Bernardo, Gianpaolo Di Dio, Simonetta Di Pippo, Emanuele Grimaldi, Carlo Luzzatto, Roberto Martinoli, Paolo Pierantoni and Ugo Salerno.
RINA S.p.A. was supported in this agreement by Lazard as a financial advisor, by Banca Akros as a co-financial advisor, by PwC (financial due diligence) and by Linklaters and Studio Legale Gattai, Minoli, Partners as legal advisors.
Fondo Italiano d’Investimento was supported in this agreement by Legance, as legal advisor, and BCG (business due diligence), New Deal Advisors (financial due diligence), Kpmg (tax due diligence), ERM (ESG due diligence), Marsh (Insurance due diligence) ed E&Y Parthenon (tech due diligence).