“We have bought Pardo”. It’s a financial operation that has caused a stir. With a management buyout operation, two boating enthusiasts have made their passion for their own job and have become the “owners” of themselves.
Fabio Planamente, 46 years old, and Gigi Servidati, 60 years, became the major shareholders (52%) of Cantiere del Pardo, the historic manufacturer of Grand Soleil sailboats and Pardo powerboats founded in 1974. Within just two years, the new brand has become one among the major players in the segment of “Med Boats” characterized by large open-air spaces and innovative solutions. The capital increase paid by their holding is equal to 5 million euros. The day before the acquisition, CEO Fabio Planamente was General Manager while the Chairman of the Management Board Gigi Servidati was Sales and Marketing Director of Cantiere del Pardo. Mr. Planamente and Mr. Servidati represent a rare story of success, where two boating enthusiasts have built, step by step, their own career in the world they love and have become the major shareholders of one among the world’s most prestigious shipyards. We have met them to better know their story.
How did you have the opportunity to acquire the majority share of Cantiere del Pardo?
Planamente: The Trevisani family who had the majority share of the shipyard decided to give up part of its share to focus on the restoration of their major company, Trevi, a company listed on the stock exchange. Hence, Gigi and I had the opportunity to acquire the majority share of 52%, supported by a financial institution
What changes for Cantiere del Pardo?
Planamente: A lot of things. Now, the company has assets of EUR 6 million and a half that guarantee a safe future to a company that has significantly grown up over the last 5 years, going from 2.5 to 30 million euros of turnover in 2017-18. The goal is to reach EUR 45 million in a couple of years.
Excellent results and ambitious goals. How do you think to achieve them?
Servidati: In addition to entries in the sailing sector, the results we have achieved the result from the success of our new range of Pardo motorboats, launched two years ago. The boom of our motorboats has resulted in a turnover of EUR 37 million in 2017-18. Today, we have two models: a 43 and a 50-footer. This year we will launch a 38-footer. We have transferred to Pardo boats all the best features and knowledge of our sailboats that have made us famous all around the world. Pardo yachts are synonymous with high quality, refined style, sturdy high-tech construction, seaworthy hulls, safe navigation and great stability in any condition as well as lower weight, high performance, and excellent fuel efficiency.
What does one do that the other cannot do?
Planamente: Gigi is wiser than me. He understands people better than me and is more creative.
Servidati: Without Fabio, this acquisition wouldn’t have been possible. He is better at numbers than me. As for the product, both are good enough.