The Italian Sea Group buys luxury furniture company Celi
The Italian Sea Group (TISG) has bought Italian luxury furniture company Celi after securing 100% control of its shares. The acquisition represents the first step of the “TISG new era” expansion initiative, according to the company. This also includes the extension of its Marina di Carrara headquarters by 2,000sqm (21,527sqft).
The Italian shipyard conglomerate said that the acquisition is part of its strategy of internalising the activities of its superyacht supply chain and “in-house know-how”. It is also in line with the firm’s ambitions to profit from luxury property and hotel investments.
“Celi is undeniably one of the most important companies for custom furniture in Italy,” said Giovanni Costantino, founder and CEO, TISG.
“Celi’s production organisation will offer new opportunities for solid and secure growth for the group also in the field of high-end real-estate and luxury hôtellerie worldwide, from Miami to Dubai.”
TISG said it plans to make investments aimed at doubling Celi’s production capacity as early as 2024, in anticipation of growth opportunities in superyachting and other sectors.
Established in Terni, central Italy in 1920, Celi was originally formed as a carpenter workshop specialising in furnishings for public buildings, religious institutions and colleges. Since its introduction to the superyacht industry, the firm has worked with TISG on award-winning build projects such as 75m Kensho (pictured) and 55m Gecko, delivered in 2022 and 2019 respectively.