Italian tanker and bulker owner and operator Premuda has concluded a management buyout led by its top executives.
The deal spearheaded by chief executive Marco Fiori and chief of finance Enrico Barbieri has seen the acquisition of 100% of the share capital in the Genoa-based company for an undisclosed sum.
The transaction is backed by Milan-based pan-European investor Pillarstone, which will stay on as a co-shareholder.
Pillarstone became the sole shareholder of Premuda and delisted the company, whose history dates back to 1907, from the Milan Stock Exchange in 2017.
Fiori (pictured) and his team took over management of the company in 2019 to drive the transition of the group towards a new business model.
“After six years of close collaboration, it’s clear that not only the fleet, but the company as a whole, has been transformed,” Fiori said, adding: “With solid strategic relationships — both commercial and financial — we are well-positioned to face the future with confidence, even in an industry marked by geopolitical uncertainty, regulatory change, and the growing imperative for environmental sustainability.”
Premuda today operates a fleet of 13 ships, comprising four bulkers and nine product tankers, with two more eco-design ships set to boost the tanker segment by the end of the year.
