Palumbo Group acquires ISA Yachts

Following the close of bids for the acquisition of the ISA Group last month, Palumbo Group has now announced that it has been granted approval by the Port Authority Committee of Ancona for the 30-year lease of the land used by the group. 

After expressing interest in ISA Shipyards back in February and fighting off competition from Wider Yachts, Palumbo Group recently made the irrevocable offer for the Ancona shipyard facility with the intention to use the yard as a dedicated new build and refit facility. As part of the project, Palumbo will utilise sub-contractors who have worked with the business in the past.

Speaking back in February, Giuseppe Palumbo, CEO of Palumbo Group said, “Our plan is focused on the confluence of part of the production of new yacht builds in the Ancona Shipyard. It is indeed our intention to build in the Ancona Shipyard, both with our historic ‘Columbus Yachts’ brand and with the ISA brand. 

“We would particularly like to start the production immediately, with the Columbus 40SH, and once the legal proceeding is terminated and the yard acquired, continue with the ISA650 model.”

The news comes weeks after Palumbo Group announced the acquisition of their fifth shipyard and first facility outside Mediterranean waters, in Tenerife. The group now operates ship construction and repair sites across Europe, with facilities in Malta, Messina, Naples and Marseilles.

For more information, visit Palumbo Group.