Naples-based Palumbo Group has won the bid to acquire ISA Yachts’ Ancona facilities and brand designs.
A court in Italy has confirmed that Naples-based Palumbo Group has won the bid to acquire ISA Yachts’ Ancona facilities and brand designs. The Italian ship repair and superyacht builder is expected to move its Columbus Yachts build activities to the new location. The purchase price is unknown.
Palumbo today released the following statement: “Palumbo Group SpA has learned, with great satisfaction, that the Court of Ancona, after the conclusion of bidding procedures, has authorised the transfer of the ISA organisation via the acceptance of the irrevocable offer on the part of Palumbo Group.
“While awaiting the finalisation of the transfer, Palumbo Group is preparing all that is necessary for the reopening of the shipyard in Ancona and the go-ahead for all production and collateral activities at the aforementioned site.”
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ISA Yachts was established in 2001 by the Rodriguez Group, a French yard that was wound-up in 2014 after falling on hard times. ISA was once a prominent Italian yacht-builder with the ability to construct craft up to 80m (263ft). The largest yacht that it built was a 66.4m (216ft) model from its GranTurismo range. Other ISA designs included the Sport, Classic and Varuna series from 36m-80m (120ft-263ft).
Palumbo was founded in 1967 to provide carpentry and metalwork services to the local ship repair industry. The company has since grown to become a major maritime maintenance and refit centre, with four divisions across five sites and an ever-expanding presence in the Mediterranean. The Palumbo Superyachts division, for instance, has facilities in Naples, Messina, Malta and Marseille.
Earlier this year, Palumbo acquired its first facility outside the Mediterranean with the purchase of a site in Santa Cruz de Tenerife.