44°12′37″N 12°06′07″E  /  44.2101598°N 12.101912°E  / 44.2101598; 12.101912

Ferretti S.p.A., which is also known as the Ferretti Group, is a company based in Forlì, Italy. It designs, builds, and sells luxury motor yachts. Its products are sold under the brands Wally, Ferretti Yachts, Custom Line, Pershing, Itama, Riva, Mochi Craft, and CRN.

The company was started in 1968 by Alessandro and Norberto Ferretti. It made its first motor sailer in 1971. Over time, the company bought other businesses, including Cantieri Navali dell'Adriatico – CNA S.r.l. in 1998, CRN S.p.A. in 1999, Riva S.p.A. in 2000, Cantiere Navale Mario Morini in 2002, Itama in 2004, and Allied Marine in 2008. In 2012, the Ferretti Group was bought by Weichai Group, a Chinese company that makes heavy machinery and cars.

Ferretti Group operates manufacturing facilities in Italy and the United States. It has companies in the United States (Ferretti Group North America) and offices in Hong Kong and Shanghai (Ferretti Group Asia Pacific).

History

In 1968, brothers Alessandro (1937–1996) and Norberto Ferretti (1946) began a business after their father, who owned a fuel trading company and a car dealership in Bologna, secured the Italian rights to sell Chris Craft motorboats from the United States. They later opened a store called Ferretti Nautica in the city center.

In 1971, the brothers launched their first boat using the hull of an 11-meter fishing boat at a shipyard in Cattolica. This boat, named Ferretti Craft, was shown at the Genoa Boat Show and marked the start of the company’s first orders. In 1975, the Ferretti brothers left the motor industry and opened their own shipyard in San Giovanni in Marignano.

From the 1980s, the company focused only on motorboats, using advanced technology like large fuel tanks and a special shower design. In 1982, they made their first boat powered only by a motor and began producing sport fisherman and flybridge boats. In 1987, the company opened a shipyard in Forlì, which later became its headquarters.

In 1989, the company created a research center called Engineering Direction to design new boats and materials. Norberto Ferretti competed in a top offshore racing category using a carbon-fiber boat and won a world championship in 1994. His team won another title in 1997. Alessandro Ferretti died in 1996 at age 54 in an accident near his villa in Bologna.

In 1994, Ferretti Group started selling its boats internationally by partnering with dealers outside Europe. In the late 1990s, investors bought shares in the company, leading to growth through buying other yacht manufacturers.

In 1996, Ferretti Group began making yachts with fiberglass flybridges that were 28 to 40 meters long through Custom Line S.p.A. In 1998, the company bought CNA S.r.l., known for making Pershing motorboats, and Bertram Yacht, Inc., a Miami shipyard. Bertram Yacht was sold in 2015.

In 1999, Ferretti Group purchased CRN S.p.A., a shipyard that made large yachts with fiberglass and steel or aluminum parts. In 2000, the company bought Riva S.p.A., a maker of luxury fiberglass yachts from 10 to 35 meters long.

In June 2000, Ferretti Group listed its shares on the Italian Stock Exchange to support its growth. In 2001, the company joined the STAR segment of the Borsa Italiana.

In May 2001, Ferretti Group acquired the Oram shipyard in La Spezia, where Riva’s new production area was later built. In August 2001, the company bought Apreamare S.p.A. in Sorrento, known for making gozzo sorrentino boats. In November 2001, Ferretti Group acquired Mochi Craft S.r.l. in Pesaro.

In 2002, the company bought Diesse Arredamenti to expand its nautical furniture skills and acquired Cantiere Navale Mario Morini in Ancona, Pinmar S.L., and Zago S.p.A. to strengthen its operations.

Between June 2002 and January 2003, Ferretti Group’s management and investors launched a public offer to buy the company’s shares to grow through acquisitions.

In 2004, Ferretti Group acquired Itama shipyard through Pershing, completing its expansion. In 2008, the company bought Allied Marine, an American firm that provided after-sales services for yachts.

In 2009, Ferretti Group reorganized its structure and sold its 60% stake in Pinmar S.L. to Sean Ewing. In 2010, the company sold Apreamare S.p.A. to the Aprea and Pollia families.

In 2012, a Chinese company, Shandong Heavy Industry Group-Weichai Power, bought 58% of Ferretti Group for €374 million. Ferretti’s management remained unchanged.

In 2013, Ferretti Group rebranded its products into three lines: Ferretti Yachts, Ferretti Custom Line, and Ferretti Navetta. The company owned brands like Riva, Pershing, Itama, Mochi Craft, CRN, and Custom Line.

In 2016, Piero Ferrari, son of Enzo Ferrari, bought 13.2% of Ferretti Group through his family’s holding company. In 2017, the company unveiled the 74-meter yacht "Cloud 9" in Monaco.

In 2018, Ferretti Group entered the sailing industry by acquiring Wally, a company founded by Luca Bassani. In 2019, the company removed its shares from the Milan Stock Exchange due to a low offer price.

In 2022, Ferretti Group bought parts of Massello Srl and Fratelli Canalicchio Spa, companies that supply yacht parts. In 2023, the company acquired San Vitale shipyard in Ravenna to build Wally sailing yachts and Ferretti Yachts INFYNITO models.

As of March 31, 2022, Ferretti Group was listed on the Hong Kong Stock Exchange. By June 27, 2023, the company was also listed on the Italian Stock Exchange.

Operations

Ferretti Group focuses on designing, building, and selling luxury yachts and pleasure boats through seven brands:

• Wally: Founded in 1994 by Luca Bassani Antivari, Wally joined the Ferretti Group in 2019. It makes sailing yachts mostly made of carbon fiber and motor yachts of different sizes.

• Ferretti Yachts: Established in 1968, this brand represents the Group’s long-standing production line. It offers two main ranges: "Flybridge" yachts, which are customizable and range from 50 to 100 feet in length, and "INFYNITO," launched in 2022. The INFYNITO range is inspired by explorer vessels and features a seamless design between the inside and outside of the yacht. It also uses more eco-friendly materials and advanced navigation technology.

• Pershing: Created in 1985 and acquired by Ferretti Group in 1998, Pershing makes sport yachts from 16 to 43 meters long. These yachts include advanced navigation systems and powerful engines that can reach speeds up to 50 knots. The brand has three main lines: "Fleet," "X," and "Superyacht," with the "GTX" range added in 2022 for the "Sport Utility Yacht" category.

• Itama: Founded in 1969 in Rome by Mario Amati, Itama became part of the Ferretti Group in 2004. It produces open yachts known for their traditional white and blue color schemes and a deep V-shaped hull, which improves stability and handling.

• Riva: Established in 1842 as a shipyard in the Lake Iseo area, Riva joined the Ferretti Group in 2000. It builds yachts and superyachts from 8 to 90 meters long, including open, sportfly, flybridge, and superyacht models.

• CRN: Founded in 1963 by Sanzio Nicolini in Ancona, Italy, CRN designs and builds customizable yachts made from aluminum or steel/aluminum, up to 90 meters long. After joining the Ferretti Group in 1999, CRN became known for innovations like the "round stern" (from the 1990s), the "open stern," and a functional balcony that can be used while sailing, introduced in the early 2000s.

• Custom Line: Founded in 1996, Custom Line makes custom composite superyachts starting at 30 meters long. It has three lines: the "Planing" range, which balances speed, space, and functionality; the "Navetta" line, designed for long-distance travel; and the "Aluminum" project, which includes a 50-meter superyacht made from aluminum to improve space and reduce emissions.

The Group also operates four companies that specialize in different parts of the marine industry:

• Allied Marine: Founded in 1945 in Miami and acquired in 2008, it sells, brokers, and charters yachts, with a focus on superyachts over 100 feet. It has exclusive rights to sell Ferretti Yachts, Riva, Pershing, Itama, and Mochi Craft boats on the East Coast of the United States.

• Fratelli Canalicchio SpA: Founded in 1996 by brothers Giovanni and Pasquale Canalicchio, this company specializes in precision engineering and stainless steel furniture. It was acquired by Ferretti Group in 2022.

• Il Massello SRL: Based in Sant'Ippolito, Italy, this company designs and makes wooden interiors for yachts. It joined the Ferretti Group in 2022 after being a long-time supplier.

• Zago SpA: Founded in 1908 in Venice by Carlo Zago, a furniture craftsman, Zago has worked on yacht and ship furnishings since the 1970s. In 2004, it sold most of its shares to Ferretti Group to support growth in the nautical industry.

Ferretti Group has production facilities in Ancona, Forlì, Cattolica, Mondolfo, La Spezia, and Sarnico, Italy.

Corporate affairs

In 1995, after the sudden death of Alessandro Ferretti, 70% of the Group was purchased by Permira. In 2000, the company was briefly listed on the Italian Stock Exchange but later decided to go private due to concerns about the negative financial climate caused by the September 11, 2001 attacks. Permira earned 54 times the value of its original investment through this listing.

In October 2006, the company’s owners considered going public again and applied to list shares on the Milan Stock Exchange. However, because many private equity buyers showed strong interest, the initial public offering (IPO) was delayed. Candover purchased 60% of the company in an auction, beating a bid from French firm PAI Partners. The remaining 30% was owned by the founder, and 10% remained with Permira. At that time, the Group was valued at 1.7 billion euros.

In May 2008, before the full effects of the financial crisis were felt, rumors suggested Candover was planning a second IPO. The business reported profits of 158 million euros on a turnover of 933 million euros in 2007. In September, the Italian financial regulator, Consob, approved the IPO for listing on both the London and Milan stock exchanges.

However, in January 2009, the company hired Rothschild to help negotiate with its banking group, led by Royal Bank of Scotland (RBS) and Mediobanca, to restructure a 1.1 billion euro debt. Initially, Candover was expected to contribute 100 million euros to reduce the debt, but by February, it withdrew from the plan and lost its investment. Permira had already done the same.

Since then, the company successfully renegotiated its debt, reducing it to 550 million euros. This was achieved by converting some debts into ownership rights. A capital injection of 85 million euros was provided by the founder and CEO, Norberto Ferretti, and some members of the management team (70 million euros) and Mediobanca (15 million euros). RBS also agreed to provide medium-term funding for working capital (65 million euros). Three major financial institutions, which already worked with Ferretti, extended their short-term funding (24 million euros) to medium-term support.

After these changes, the Group’s ownership was divided as follows: Norberto Ferretti and the management team held 38.2%, Mediobanca held 8.8%, and senior and mezzanine lenders held 53% through exit participation rights. Together, Ferretti, the management team, and Mediobanca controlled 100% of the Group’s voting rights.

As of 2024, the Group’s ownership structure includes Ferretti International Holding (37.5%), Flipnation Limited (10%), Danilo Iervolino (5.2%), Kheope Sa (4.5%), and the public market (42.6%).

Main shareholders

The primary owners of Ferretti on May 23, 2025, are:

The primary owners of Ferretti on July 22, 2025, are:

Racing

In 1989, the company joined offshore racing to use advanced technology and gain more international recognition. In 1994, Norberto Ferretti won the Class 1 Offshore World Championship. In 1995, the Ferretti team won the European Offshore Championship. In 1997, the team won both the European and World Championship titles. The company says these successes are due to an advanced hull made using carbon-fiber autoclave technology.

Technology

The Ferretti group, along with Mitsubishi, has created a system called ARG (anti-rolling gyroscope), which helps boats move more smoothly by reducing the impact of waves. This system uses a counterweight and a gyroscope to achieve this effect.