Tecnomar has announced its acquisition of the Admiral brand. Admiral encompassed the long-established range of aluminium and steel yachts produced by Cantieri Navali Lavagna (CNL), but disappeared from view when CNL was declared insolvent on January 29, 2010. Tecnomar’s acquisition was finalised on 4 November 2011 at the Milan tribunal where Admiral’s assets were auctioned off. The Italian yard has acquired designs, technical documents and software licences of Admiral, but not the production facilities, which will be dismantled. Tecnomar was the only company that presented a bid at the tribunal.

  “[The] Admiral maxiyachts range completes the Tecnomar portfolio and creates synergies and new growth opportunities”, said Giovanni Costantino, President and CEO of Tecnomar Group. “The acquisition expands our offer and presence in the marketplace. The Admiral brand preserves a great appeal with more than 30 years' experience in aluminium alloy production."

The company confirmed it is ‘planning new strategies’ with the acquisition but has not released any further details.