Platinum Equity Exits De Wave Group After Multi-Year Turnaround
Event summary
- Platinum Equity to sell De Wave Group after 7-year ownership, with transaction expected to close by year-end 2026.
- De Wave more than doubled revenue and EBITDA under Platinum's ownership, reaching €400M and €50M respectively in fiscal 2025.
- Backlog grew from €500M to over €1B during Platinum's tenure, despite navigating pandemic-induced cruise industry disruption.
- Strategic add-on acquisitions expanded De Wave's product offerings and international footprint.
- Riccardo Pompili elevated to Group CEO during pandemic, leading operational turnaround.
The big picture
Platinum Equity's exit from De Wave Group underscores the firm's operational focus and ability to navigate industry disruptions. The successful turnaround highlights the value of strategic acquisitions and leadership changes during challenging periods. With approximately $48B in assets under management, Platinum continues to demonstrate its commitment to European investments, particularly in Italy. The cruise industry's recovery remains a key factor in De Wave's future performance, as the company transitions to new ownership.
What we're watching
- Execution Risk
- Whether Renaissance Partners can maintain De Wave's growth trajectory post-acquisition, particularly in the volatile cruise industry.
- Industry Dynamics
- How the cruise industry's recovery pace will impact De Wave's backlog and revenue streams.
- Private Equity Strategy
- Platinum Equity's next moves in the European market, particularly in Italy, following this successful exit.