Fincantieri agreed on 6 July to acquire a 52.60% controlling stake in Next Geosolutions Europe from Marnavi at €16.25 a share, valuing the marine survey and geoscience group at €780m.
Why Fincantieri S.p.A. is buying Next Geosolutions Europe (NextGeo)
Fincantieri said the four deals create a vertically integrated underwater operator with about 1,500 staff and pro-forma 2026 revenue above €1.1bn and EBITDA of about €220m, four years ahead of its 2030 plan targets. It expects the acquisitions to lift earnings per share by about 30% by 2028.
Deal terms and financing
After closing, Fincantieri will launch a mandatory tender offer for the remaining NextGeo shares to delist the company from Euronext Growth Milan; certain managers may sell up to 30% of their holdings and will reinvest the rest. The initial €600m outlay across the four deals is funded mainly from the €500m capital increase completed in February 2026.
Regulatory approvals and timing
The NextGeo purchase requires Golden Power and antitrust approvals. On 29 September 2026 Alantra said these were expected by the end of 2026, with the mandatory offer to follow.
Market context
The same day Fincantieri agreed to take 61.95% of a vehicle buying underwater communications specialist WSense, 51% of autonomous underwater vehicle maker Graal Tech and an initial 49% of surface drone maker Defcomm. Alantra described the €16.25 price as not particularly generous given the change of control.
