Premuda seals management buyout
Premuda Executives Lead Management Buyout
Premuda, a prominent Italian tanker and bulker operator, has successfully completed a management buyout led by its top executives, including CEO Marco Fiori and CFO Enrico Barbieri. The deal involved the acquisition of 100% of the company’s share capital, with financial details remaining undisclosed. This strategic move is supported by Pillarstone, a Milan-based investor, which will continue as a co-shareholder.
Leadership Transition and Future Outlook
Pillarstone became the sole shareholder of Premuda in 2017, subsequently delisting the company from the Milan Stock Exchange. Under Fiori’s leadership since 2019, the management team has focused on transforming Premuda’s business model to adapt to changing market conditions. Fiori emphasized the significance of this transformation, stating, “After six years of close collaboration, it’s clear that not only the fleet, but the company as a whole, has been transformed.”
He added that Premuda is now well-equipped to navigate the complexities of the shipping industry, which is influenced by geopolitical uncertainties, regulatory changes, and an increasing emphasis on environmental sustainability. Currently, the company operates a fleet of 13 vessels, including four bulk carriers and nine product tankers, with plans to add two eco-design ships to its tanker segment by year-end. This expansion reflects Premuda’s commitment to enhancing its operational capabilities while prioritizing sustainable practices in an evolving maritime landscape.
