The Southern Wind, a luxury sailing yacht company, faced financial difficulties and was acquired by the Italian shipyard Perini Navi in 2017.
In the early 2000s, Southern Wind Shipyard, known for its high-performance and luxury custom sailing yachts, was thriving, with a reputation for quality and innovation. However, as the global financial crisis hit in 2008, the luxury yacht industry suffered a significant downturn. Many shipyards, including Southern Wind, experienced a drop in orders, which led to financial strain.
Despite the challenges, Southern Wind continued to produce yachts but struggled to maintain its financial stability. The situation became more difficult over the years, and by 2017, the company was seeking solutions to secure its future. This led to the acquisition by Perini Navi, an Italian shipyard specializing in the design and construction of large sailing and motor yachts.
Perini Navi’s acquisition was seen as a strategic move to expand its portfolio and leverage Southern Wind’s expertise in building high-performance sailing yachts. The integration aimed to strengthen both brands by sharing technology, design, and craftsmanship. The acquisition allowed Southern Wind to benefit from Perini Navi’s stronger financial position and broader market reach.
However, Perini Navi itself faced financial troubles and filed for bankruptcy in 2021. The Ferretti Group and Sanlorenzo, two other Italian yacht manufacturers, acquired the Perini Navi brand and assets, including the Southern Wind operations, through a new company called New Sail S.p.A. This acquisition aimed to preserve the heritage and expertise of both Perini Navi and Southern Wind while ensuring the continuation of their yacht-building traditions under new ownership.