- Fincantieri entered a reinvestment agreement with NextGeo’s senior managers.
- NextGeo shareholders will keep more than 70pc of their holdings.
- Fincantieri is building a European underwater technology platform.
- Four companies will be integrated into the underwater hub.
- The transaction follows delivery of Explora III and steel-cutting for Carnival Destiny.
Fincantieri has entered into an agreement with the senior managers of NextGeo Solutions Europe, a company whose acquisition it announced earlier this month. NextGeo, a provider of marine survey and geoscience services, is being acquired together with three other companies in the underwater segment: WSense, Graal Tech and Defcomm. NextGeo’s reinvesting shareholders will keep more than 70pc of their current holdings in the company, while transferring an aggregate 4.13pc stake to Fincantieri once the deal closes.
They will be able to gradually exit the company’s share capital through put and call options once the financial statements for fiscal years 2027, 2028 and 2029 are approved. Pierroberto Folgiero, CEO of Fincantieri, stated the company is building the first European platform capable of operating, connecting, protecting and governing the underwater domain through services, drones, sensors, communications, defense systems and strategic platforms.
The four companies will be integrated into Fincantieri’s Underwater technological hub, comprising a total of eight companies. The structure of the transactions guarantees managers and shareholders continuity through the reinvestment of significant stakes. This follows two milestones achieved earlier this month: the delivery of Explora III and steel-cutting for Carnival’s new Ace-Class ship, Carnival Destiny.
Pierroberto Folgiero, CEO of Fincantieri, shared, “We are building the first European platform capable of operating, connecting, protecting and governing the underwater domain.”
