Transaction details

Azimut Benetti

Ethica Group assisted the Azimut Benetti Group in obtaining non-repayable grants from the Ministry of Enterprise and Made in Italy from the PNRR

Ethica Group, with the Debt Advisory team, has assisted Azimut Benetti in obtaining non-repayable grants from the Ministry of Enterprise and Made in Italy. Azimut Benetti Group is the largest manufacturer in the world of luxury yachts from 10 to 100 meters in length in composite material, aluminum and steel with over 45 models currently in production. Founded in 1969, the Group employs over 2,000 people and operates in five Italian shipyards and one production site in Brazil.

The concessions were granted by the Ministry of Enterprise and Made in Italy under the Measure Contracts for the Development of Production Chains pursuant to the Ministerial Decree of 9 December 2014 and the Ministerial Decree of 25 March 2022, financed with PNRR funds. The facilities made up of a non-refundable grant are aimed at supporting a complex program of strategic and innovative productive investments aimed at strengthening the competitiveness of the national production system and strategic production chains. Specifically, the complex development program will be implemented in the three-year period 2023-2025 at the production plants in Avigliana (Turin) and Livorno. The total investment concerns an expansion of production capacity aimed at supporting the growing demand of the world market and responds to the need to make production processes increasingly efficient and sustainable. Furthermore, the development program will allow the Group to improve its product excellence and, at the same time, to strengthen the “Design, fashion and furniture” supply chain, in which the company is fully part.