Fincantieri Buys Four Firms to Build Subsea Services Arm

Fincantieri Expands Beyond Shipbuilding

Italian shipbuilding group Fincantieri is moving decisively into subsea services and underwater technology, announcing the acquisition of four Italian companies in a single push. According to a report by The Maritime Executive, the deals were funded through a capital raise the company completed earlier this year, and all existing management teams at the acquired firms will stay in place.

The move signals that Fincantieri intends to become a vertically integrated player not just in building vessels, but in operating and equipping underwater missions for both commercial and defense customers.

The Four Acquisitions

The centerpiece deal is NextGeo, an offshore survey and subsea construction business that was previously part of Marnavi Group, Italy’s largest offshore services firm. Through Marnavi, NextGeo had access to 15 offshore vessels equipped for geophysical, geotechnical and environmental surveying, unexploded ordnance removal, and construction support work involving cranes and ROVs. It ran several Marnavi MPSVs under its own name, including the Ievoli Amber, Ievoli Cobalt, Ievoli Relume, Ievoli Ivory and Ievoli Grey. Fincantieri’s subsidiary IDS had already collaborated with NextGeo on a midsize uncrewed surface vessel built for open-ocean survey work, and the companies suggest NextGeo can now offer an

Reviewed by Ibrahim Halil Ceylan, Marine Surveyor at Apeks Marine.