Platinum Equity to Sell De Wave Group After Transformation
Private equity firm Platinum Equity has agreed to sell De Wave Group, a global supplier of marine interiors. The company more than doubled revenue and EBITDA during Platinum Equity's ownership period.
Platinum Equity, a global investment firm, announced its intention to sell De Wave Group, a company specializing in marine interiors. The sale follows a multi-year transformation initiative that saw De Wave Group more than double its revenue and EBITDA. The company's order backlog also surpassed €1 billion.
Platinum Equity acquired De Wave Group in 2017. During its ownership, the firm worked with the company to enhance its operational efficiency and expand its global reach. The successful turnaround of De Wave Group is seen by Platinum Equity as a realization of its investment strategy.
De Wave Group provides customized interior solutions for cruise ships, commercial vessels, and offshore structures. Its client base includes major shipping companies worldwide. The company is headquartered in Italy, and the transaction highlights Platinum Equity's commitment to investing in and operating businesses within Italy.
Terms of the sale have not been disclosed. Platinum Equity stated that it continues to seek investment opportunities, particularly within industrial sectors.