Italian shipbuilding giant Fincantieri said it has taken a minority stake in Camper & Nicholsons International. A statement said the acquisition will come through a cash injection, though the exact details were not disclosed.

Camper & Nicholsons was sold in 2014 out of the bankruptcy estate sale of the Rodriguez Group in France. Fincantieri said that the possibility of taking a larger stake in Camper & Nicholsons was part of the agreement.

“Acquiring a stake in a company of Camper & Nicholson caliber has a significant strategic value,” said Giuseppe Bono, Fincantieri CEO, in the statement. “From today we are among the first shipbuilders to directly oversee the promising megayachts market segment. Our presence will cover the entire range of activities typical for this business, from sales and marketing to life cycle management of these very special units.”

The two businesses had collaborated on the build of two superyachts, the 134-metre Serene and the 140-metre Ocean Victory, that were delivered in 2011 and 2014 respectively.

Gualtiero Giori, executive chairman of Camper & Nicholsons, said in the statement that he was “delighted to welcome such a strong investment partner” as Fincantieri. “Both companies share similarly long and proud histories yet remain leaders in our respective sectors today,” said Giori. “We look forward to their support in taking Camper & Nicholsons to even greater heights of success in the years to come.”