Italian company Gavio Group has announced that the contract for the acquisition of the Bertram brand from Ferretti SpA has been completed.

The closing of the deal, realised through US subsidiary Bertam LCC, follows the agreement signed on February 5, 2015 with the Ferretti Group.

The Gavio Group is one of Italy’s top industrial groups, active in fields ranging from motorway concessions and infrastructure construction to transportation, logistics, technology, energy and shipbuilding.

With the acquisition, Gavio Group adds Bertram to its portfolio of yacht brands, which include Baglietto, Cerri Cantieri Navali.