HedgeCo.Net — Italian private equity firm Renaissance Partners said it agreed to buy De Wave Group, a Genoa-based maker of interiors for yachts and cruise ships, from Platinum Equity. Reuters reported the agreement on September 8 and cited a source close to the matter putting the transaction value at around €400 million ($465 million). Platinum Equity’s own release confirmed a definitive agreement to sell De Wave, said financial terms were not disclosed, and said the deal is subject to customary regulatory approvals with close expected by the end of 2026. Cruise Industry News independently confirmed the binding acquisition agreement between Renaissance Partners and Platinum.
Platinum acquired De Wave in 2019 and later added Tecnavi, FCR Finland, and Mobil-Line. Reuters said De Wave employs about 1,400 people globally and generated €400 million of revenue in 2025; management is expected to reinvest. Renaissance worked with J.P. Morgan as financial adviser, Reuters reported. The platform spans cabins, bathrooms, public and catering areas, and related technical systems for newbuild and refit work.
This is a signed PE secondary buyout with an attributed ~€400 million value from a Reuters source, while the seller’s release leaves terms undisclosed. Mark the binding/definitive agreement, Platinum’s 2019 entry, end-2026 expected close subject to approvals, and the ~€400 million sourced print as the tape—and keep the seller’s “terms not disclosed” language visible. Do not invent EBITDA multiples or a locked management rollover percentage. The allocator object is a European industrial niche platform recycling from a U.S. sponsor.