Maiora builds its first 50m metal superyacht on a EUR 20m bet
Why did Next Yacht Group buy Siman?
Next Yacht Group acquired the metal fabricator Siman to add steel and aluminium capacity it did not previously own, backing the move with a EUR 20 million industrial plan.
Next Yacht Group, the La Spezia parent of Maiora, AB Yachts and CBI Navi, has taken full control of Siman, a metal-fabrication and mechanical-engineering specialist founded in 1988. The deal, done through the group's Continental Investments vehicle, comes with a 20 million euro industrial plan, of which about 11 million is already committed. It keeps Siman's 70 staff in place and adds roughly 15 new hires.
The point of the purchase is capacity the group did not own before. Maiora and AB Yachts made their name in fast fibreglass hulls, and steel and aluminium work of the kind larger displacement yachts need was always bought in. Owning the metal shop is a vertical-integration move that lets the group build bigger boats on its own terms rather than a supplier's queue.
What is Maiora's first metal superyacht?
A 50-metre Maiora, the brand's first hull built in metal rather than fibreglass, is already under construction, with a full reveal promised by the end of 2026.
A 50 metre Maiora, the brand's first metal superyacht, is already under construction, and the group says new metal units for both Maiora and AB Yachts are on the drawing board. Siman's yard is set up for metalwork, propulsion and refit on hulls up to 60 metres, which frames how far the group intends to push. The first projects from this shift are due to be shown by the end of 2026.
That is a real change of altitude for Maiora. A 50 metre displacement yacht in steel and aluminium is a different product from the planing motoryachts the brand is known for, and it puts the group into a size class it has not competed in directly before. The end-of-year reveal will show whether the drawings translate into a credible flagship.
What does the Siman deal mean for a 50-metre-plus buyer?
More Italian metal-yacht capacity widens the field in a size tier dominated by a few long-order-book yards, though a debut steel hull still carries the execution risk any first-of-type build does.
For an owner shopping the 50 metre-plus custom segment, more capacity in Italy is useful leverage. The tier is dominated by a handful of yards with long order books, so a new entrant with its own metal shop widens the field and, at the margin, the negotiating room on slot and price. Maiora also carries a recognisable brand, which matters at resale.
The caveat is that a first metal hull is exactly that, a first. Buyers pay a premium for a yard's track record in a given material, and a debut steel superyacht carries execution risk a proven line does not. The signal to watch is the end-2026 unveiling and how quickly Siman's up-to-60 metre capability scales into repeatable deliveries.
What owners and crew report
Chairman frames the deal as capacity, not distress
Mario Petroni, Chairman of Next Yacht Group, said: 'The acquisition of Siman represents a natural evolution of our industrial growth strategy. This transaction expands our manufacturing capabilities in the strategically important metal yacht segment while strengthening a highly specialised Italian industrial supply chain.'
Mario Petroni, Chairman, Next Yacht Group
What is good, and what to watch
Strong points
- Real, existing metal-fabrication capacity, not a startup shopSiman, founded in 1988, has decades of experience as a major Italian Navy supplier and subcontractor to established superyacht builders, working on mechanical/propulsion and refit projects up to 60 metres - Next Yacht Group is buying a working yard, not building one from scratch.
- A capital plan with visible milestonesThe group has committed EUR 20m to the acquisition and upgrades (EUR 11m already deployed, about EUR 9m still to come), preserved Siman's 70 existing jobs, and is targeting full profitability for 2027 - specific, checkable commitments rather than vague promises.
What to watch
- Siman was bought out of insolvency amid an active corruption investigationNext Yacht Group acquired Siman through its Continental Investment Srl vehicle for a nominal EUR 1,000, because Siman was in Italian insolvency proceedings (amministrazione straordinaria) at the time. Siman's crisis traces partly to an ongoing judicial investigation into the La Spezia Naval Arsenal, involving 17 people including Siman's former CEO and former head, over alleged false invoicing above EUR 14m, illicit labour subcontracting, fraud against the state and corruption tied to asbestos-remediation contracts. This is a distressed-asset rescue, not evidence against Next Yacht Group's own strategy, but a buyer or investor should know the backstory.
- No pricing or specification disclosed for the Maiora 50m itselfNext Yacht Group has not published a price, hull material confirmation, drawings or performance figures for the 50-metre Maiora; the full reveal is promised only by the end of 2026.
Practical detail
| Deal structure | Next Yacht Group acquired Siman through its holding vehicle Continental Investment Srl for a nominal EUR 1,000, reflecting Siman's insolvency status at the time of the deal, per ShippingItaly. |
|---|---|
| Investment plan | EUR 20 million total: EUR 11m already deployed, roughly EUR 9m remaining for facility upgrades. 70 existing Siman jobs preserved, 15 new hires planned at Siman, up to 30 more across the wider group. Full profitability targeted for 2027. |
| Siman background | Founded 1988; production sites in the provinces of Pisa, La Spezia and Massa Carrara. Historically a major Italian Navy supplier and subcontractor to prestigious Italian superyacht builders, specialising in mechanical/propulsion work and refit on vessels up to 60 metres, plus civil naval and defence work. |
| Maiora 50m price | Not disclosed. No price-per-metre or total price has been published for the Maiora 50m, or for any of its named 50-metre-class rivals (Benetti B.Now 50m, Overmarine Mangusta 165 REV, Mangusta GranSport 50, Baglietto Fast50, The Italian Sea Group's 606, Tankoa S501, Sanlorenzo 52Steel, Custom Line Navetta 50m) - so no price-per-metre comparison can honestly be made. |
| Market context | Italian builders account for 52 percent of global superyacht production, led by Sanlorenzo, Azimut-Benetti and Ferretti Group. |
Questions this story answers
What happened?
Next Yacht Group, the fibreglass-heritage owner of Maiora and AB Yachts, has bought the metal fabricator Siman and put a 50m Maiora into build. For anyone weighing the 50m-plus custom segment, it means another Italian yard with real steel and aluminium capacity behind it.
What is good about it?
Real, existing metal-fabrication capacity, not a startup shop. Siman, founded in 1988, has decades of experience as a major Italian Navy supplier and subcontractor to established superyacht builders, working on mechanical/propulsion and refit projects up to 60 metres - Next Yacht Group is buying a working yard, not building one from scratch.
What should an owner or buyer watch?
Siman was bought out of insolvency amid an active corruption investigation. Next Yacht Group acquired Siman through its Continental Investment Srl vehicle for a nominal EUR 1,000, because Siman was in Italian insolvency proceedings (amministrazione straordinaria) at the time. Siman's crisis traces partly to an ongoing judicial investigation into the La Spezia Naval Arsenal, involving 17 people including Siman's former CEO and former head, over alleged false invoicing above EUR 14m, illicit labour subcontracting, fraud against the state and corruption tied to asbestos-remediation contracts. This is a distressed-asset rescue, not evidence against Next Yacht Group's own strategy, but a buyer or investor should know the backstory.
What do owners and crew report?
Mario Petroni, Chairman of Next Yacht Group, said: 'The acquisition of Siman represents a natural evolution of our industrial growth strategy. This transaction expands our manufacturing capabilities in the strategically important metal yacht segment while strengthening a highly specialised Italian industrial supply chain.' (Mario Petroni, Chairman, Next Yacht Group)
Who reported this?
Megayacht News, Marine Industry News, SuperYacht Times, Barche Magazine, ShippingItaly, La Nazione, Citta della Spezia.
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