Maritime service provider Elcome International has acquired a controlling stake in Fabio Fiorucci, an Italy-based navigation systems company, as part of a wider strategic plan to expand its portfolio across southern Europe.
Under the agreement, the Fiorucci family will retain a minority holding and continue to manage the company’s day-to-day operations. This collaboration will boost Elcome’s presence in the Mediterranean region, alongside its existing operations in Suez, Spain, and Portugal.
“With a strong track record in the cruise, container, and naval sectors, the investment in Fabio Fiorucci gives us access to new market segments and a strong presence in the critical Italian maritime market,” said Elcome Managing Director Jimmy Grewal.
“There are so many synergies between our companies. Both Elcome and Fabio Fiorucci have longstanding legacies in the industry. Both are family-owned, and both have established reputations for customer service and supplier loyalty.”
“This investment expands Fabio Fiorucci’s product portfolio to include maritime communication, charts, automation, and safety systems.”
Since 1983, when it delivered its first IBS (integrated bridge system), Fabio Fiorucci has supplied and installed approximately 125 systems on Italian-built cruise ships, commercial ships and military vessels.
“We are delighted that Elcome has chosen to invest in our company. This acquisition will foster the growth of the company my father founded more than fifty years ago,” said Fabrizio Fiorucci, General Manager, Fabio Fiorucci.
“It is a fantastic opportunity for our existing clients as it offers a much broader range of products and services, including Starlink. It also supports Elcome’s ambitions in the global cruise and naval sectors.”