CVC Weighs Sale of D-Marin: Goldman Sachs Tapped to market Italian Hubs including Porto Mirabello, Varazze, and Livorno

The elite nautical tourism sector in the Mediterranean is bracing for a potential seismic shift in ownership. Private equity giant CVC Capital Partners is reportedly working closely with Goldman Sachs to explore strategic options for D-Marin, a premier operator of luxury marinas.

According to confidential sources, the investment firm has launched a comprehensive portfolio review, placing a full or partial sale of the asset on the table. Today, D-Marin stands as a critical benchmark for yacht owners and sailing enthusiasts, boasting an extensive network of marinas stretching from the coasts of Turkey and Greece to Italy, Croatia, and the United Arab Emirates.

Under CVC’s stewardship, the company has undergone significant consolidation and modernization. By prioritizing digital integration and premium hospitality standards, it has transformed into one of the most coveted players in the leisure-linked infrastructure sector. CVC’s interest in a potential exit comes amid a fluid market environment, where private equity firms are reassessing their holdings to adapt to shifting macroeconomic conditions and maximize returns on invested capital. Despite the high profile of the dossier, discussions remain in the preliminary stages, and no final decision has been made. To date, both CVC Capital Partners and Goldman Sachs have declined to comment officially. Uncertainty regarding the final outcome persists, while market watchers closely monitor the next moves of one of the Mediterranean’s most dynamic maritime players.

For Italy, a global leader in tourism, CVC’s potential exit from D-Marin is far more than a mere financial transaction; it represents a pivotal moment for the management of strategic tourism infrastructure. Italy currently hosts the group’s largest regional network, comprising six centers of excellence, including Porto Mirabello in La Spezia, Marina di Varazze, the new Livorno project, Punta Faro in Lignano Sabbiadoro, and the Ligurian hubs of Aregai and San Lorenzo. A change in ownership raises vital questions regarding the continuity of investments needed to keep these ports at the forefront of international standards, particularly as digitalization and environmental sustainability become non-negotiable requirements for attracting high-end yachting.

Furthermore, the potential sale shines a spotlight on the robust strategic alliance between D-Marin and the Azimut|Benetti Group, a world leader in Italian shipbuilding. This synergy is vital for the "Sistema Italia," as it marries world-class naval production with top-tier shoreside management, creating an ecosystem that retains significant value within the country. Given that a high-end nautical tourist generates local economic impact up to 26 times higher than the average traveler, the arrival of a new investor, whether an infrastructure fund or a sovereign wealth fund, could accelerate Italy's positioning as the central hub of the Mediterranean, provided the transition does not stall the expansion projects already underway along the Italian coastline.

Benedetta Zimone