Palumbo acquires Croatia’s Viktor Lenac shipyard

Palumbo Group has just secured complete control of Croatia’s historic Viktor Lenac shipyard, acquiring an 80% share in the company.

The acquisition further strengthens the Neapolitan group’s position in the Mediterranean.

Owners of Malta’s foremost shipyard in Cottonera, Palumbo Group’s latest move will see the empire of businessman Antonio Palumbo grow to eight shipyards. Palumbo is focusing on providing specialised offshore services and expanding the superyacht business.

“Acquiring control in the Viktor Lenac shipyard means we’re casting our net as wide as possible to continue offering the best service for our clients in a cutthroat environment of cost-cutting,” Group president Antonio Palumbo said.

“Malta’s shipyard in Cottonera is strategically positioned at the centre of our network, as we remain focused to tap every opportunity and continue expanding our network,” he added.

Situated on the northern Croatian Adriatic coast, the Viktor Lenac is one of Croatia's major shipyards, which traces its history back to 1896 and holds a long tradition in ship repair. 

Today, the Viktor Lenac specialises in ship conversions and repairs and among its clients is the US Navy, which serviced several of its ships there in recent years.

When Palumbo Group had first acquired a 14% share in the shipyard in May, Viktor Lenac CEO Aljosa Pavelin had welcomed the move as an opportunity to create considerable synergy and merge expertise. 

Shortly after this, Antonio Palumbo had the opportunity to launch a public offer to secure majority shareholding, which he succeeded in acquiring in recent days.

The Palumbo Group is present in Malta, Naples, Messina, Marseilles, Tenerife, Savona and Ancona.