In 1989, a drive towards improved synergies in advanced technology led to the establishment of the Engineering Department, a specialist research centre tasked with researching new materials and designing new standard-series boats. Ferretti’s debut in the offshore-racing arena soon followed.
The newly expanded range and the sporting successes paved the way for the group’s internationalisation. Accordingly, Ferretti of America Inc. was founded in 1993 to sell motor yachts in the USA, Canada, Mexico, Venezuela and the Caribbean. Ferretti of America joined an existing network operating in Greece, France, Spain, Germany and Great Britain, helping to boost sales on the international market.
Between 1994 and 1997, the Ferretti team’s victories at the European Championship and the Class 1 World Offshore Championship (twice) enabled the company to transfer the results of the technological research originally intended for sporting competitions to the production line.
In 1994, Ferretti launched a global sales campaign by creating a strategic dealer network outside Europe.
In the late 1990s, as institutional investors acquired a share of the capital, the company looked to an external-expansion strategy through targeted acquisitions of boat builders specialising in top-of-the-range motor yachts.
In 1996, with the arrival of Custom Line, Ferretti began operating in the flybridge segment with 28- to 40-metre fibreglass yachts.
In 1998, CNA Srl (Cantieri Navali dell’Adriatico) joined the group, bringing the prestigious Pershing brand – specialist open motor yachts combining high performance with supreme comfort and design excellence.
In 1999, the group acquired CRN SpA, a specialist builder of 30-metre-plus maxi and mega-yachts in composite materials, with a steel hull and aluminium superstructure. In 2000, Ferretti acquired 100% of the share capital of Riva SpA, the world’s most famous and exclusive shipyard.
In May 2001, the parent company Ferretti SpA bought various assets from Oram shipyards of La Spezia, where Riva would set up its new production facilities.
In November that year, Ferretti Group finalized its acquisition of Mochi Craft Srl, based in Pesaro.
In 2002, the group took over Diesse Arredamenti, bringing in new skills in the nautical fittings and furnishings sector, to enhance its consolidated boat-building know-how. Later that year, in line with this strategy, the group also finalized its acquisitions of Cantiere Navale Mario Morini of Ancona (enabling CRN to expand its production capacity), Pinmar SL, a specialist yacht painter & refitter, and Zago SpA, a high-profile Italian manufacturer of wooden furniture pieces.
In 2004, the group acquired Cantieri Navali Itama, a prestigious company specialising in the construction of open motor yachts.
In 2008, Ferretti Group acquired the assets, brands and operations of Allied Marine, an American firm specialising in brokerage, after-sales services, and the sale of new and second-hand motor yachts.
Buoyant growth (2012–Today)
In 2012, SHIG–Weichai Group, one of the largest international industrial groups in the commercial-vehicles and construction-machinery sector, acquired a 75% holding in Ferretti Group. In the August, Tan Xuguang was elected President of Ferretti Group.
Alberto Galassi, Ferretti Group CEO, led the new management team towards new objectives. The focus was on research & development and product innovation while taking the group’s yachts into new markets, as ambassadors of Italian technology and style.
This was a time of major investment in products, processes, communication and events.
Ferretti Group grew at an astonishing rate, performing well above the industry average.
February 2016 saw the establishment of FSD (Ferretti Security Division). The division specializes in the design, development and production of a new range of state-of-the-art naval platforms with state of the art specifications and mission profiles tailored to the requirements for the security, patrol, search & rescue in international and territorial waters and coastlines.
The first Fast Patrol Vessel by Ferretti Security Division, the FSD195, is a high-performance 20-metre vessel capable of speeds in excess of 55 knots, with a range of over 500 miles and both RINA FPV and CE approvals.
The results so far have satisfied shareholders to such an extent that the group has received an additional share capital increase from Weichai Group.
Thanks to some major research and development investments, 27 new models have been launched since 2015.