Massimo Perotti on the Global Allure of Sanlorenzo
- Gael Burlot
- Apr 28
- 11 min read
Updated: May 2
Two decades post-acquisition of Sanlorenzo, Perotti discusses the company's commitment to sustainable technology, the expansion of a Group that now encompasses Bluegame, Nautor Swan, and Simpson Marine, as well as his perspective on the Asia-Pacific market.
Massimo Perotti, born in Turin on October 26, 1960, commenced his yachting career at Azimut-Benetti Group in 1984 while pursuing his Economics degree at the University of Turin. Perotti collaborated extensively with the late Paolo Vitelli, the founder of Azimut-Benetti, for two decades at the company, where he ascended to the Board of Directors and assumed the role of CEO of Azimut.
In 2005, he purchased Sanlorenzo, the renowned Italian shipyard established in 1958. Currently serving as Executive Chairman of Sanlorenzo SpA, which encompasses the Bluegame and Nautor Swan brands, as well as the Simpson Marine dealership, Perotti has managed the company's expansion from EUR 42 million in revenue in 2004 to EUR 930 million in 2024.
What was your experience of this year's Sanlorenzo Elite Weekend in Phuket, where you interacted with yacht owners and the Sanlorenzo Asia Pacific team?
The inaugural Sanlorenzo Elite Weekend was an exceptional experience for us, particularly for me, as I got the opportunity to engage with Sanlorenzo boat owners from various regions of Asia in a splendid environment.
This event, featuring 11 yachts and 60 guests and their companions, provided a unique opportunity to enhance and reinforce the Sanlorenzo values and ethos—characterized by craftsmanship, innovation, elegance, and quality—in a serene and tranquil setting, facilitating meaningful interactions and the sharing of yachting experiences.
Following the acquisition of Simpson Marine in 2024, what is your progress regarding the integration of the company and the development of Sanlorenzo Asia Pacific?
We want for Sanlorenzo, Nautor Swan, and Bluegame to achieve worldwide reach and branding across the Asia-Pacific area. I believe the Asia-Pacific region will experience the highest growth in the following decade.
I chose to purchase Simpson Marine because Sanlorenzo distinguishes itself from other manufacturers. We possess Sanlorenzo Americas and oversee its distribution in the Americas. We possess Sanlorenzo Med, with offices located in Monaco, Cannes, Palma de Mallorca, and Malta. Following the acquisition of Simpson Marine, we possess the distribution rights throughout the Asia-Pacific region. We are the sole shipyard engaged in this endeavor; thus, the acquisition of Simpson Marine was inherently aligned with our identity.
What are your expectations for markets like Australia and Vietnam, where Sanlorenzo established new offices in the previous year?
The inauguration of Sanlorenzo Asia Pacific's office in Sydney was a significant milestone for Bluegame, which introduced its bestselling BGX63 in Australia. Our entrance into Vietnam, marked by the inauguration of a showroom in Ho Chi Minh City in partnership with O2H2O Vietnam last December, was a strategic initiative, granting access to the burgeoning luxury market and the elite demographic in the region.
The economic growth in Vietnam and the increasing population of high-net-worth individuals present a distinctive opportunity for us to provide our exquisite yachts, catering to the demands of a burgeoning and wealthier customer.
In the APAC area, innovation and emerging technologies are significant trend catalysts, alongside the desire for more sophisticated navigation systems. These features define Sanlorenzo yachts: elegance, workmanship, luxury, and 'Made in Italy' flair.
What motivated the acquisition of Nautor Swan last year, and how does it integrate into the Group's expanding portfolio of boat brands?
Nautor Swan manufactures goods that we have neither previously produced nor possess the capability to produce. Nautor Swan addresses future sustainability through its sailboats, whereas Sanlorenzo is at the forefront of green technology utilizing methanol and hydrogen.
Sanlorenzo and Nautor Swan share similarities; both manufacture a limited quantity of vessels at a premium price for a discerning clientele. We emphasize relationships, quality, reliability, elegance, and meticulous attention to detail. We share numerous similarities.
The acquisition significantly aids Nautor Swan in industrialization and research and development, leveraging the technological advancements established at Sanlorenzo.
What were the key insights from Bluegame's participation in the 37th America's Cup?
The BGH-HSV (hydrogen support vessel) was conceived by a team of specialists, headed by Luca Santella, and adhered to the stringent stipulations of the America’s Cup Protocol. The vessels operate solely on hydrogen, producing no pollutants, and has a range of 180 miles. They successfully achieved foil flight at 50 knots with the American Magic and Orient Express teams on the Barcelona circuit.
We are leveraging our expertise in boat construction to produce a 20-meter Bluegame multihull, our inaugural hydrogen-hybrid vessel, which integrates hydrogen technology from the America’s Cup tenders with Volvo’s pioneering IPS hybrid engine. Based on our foiling experience, we are developing Bluegame's new BGF range of foiling catamarans, ranging from 35 to 55 feet.
You are the proprietor of the inaugural Sanlorenzo 50Steel, Almax, which employs green methanol and fuel-cell technology to generate electricity and supply the hotel load. What made the finishing of this vessel so poignant for you?
I am currently 64 years old. I reflect on my inaugural boat show in Genoa, which occurred almost 40 years ago. At the age of 23, I possessed no knowledge regarding boating. I encountered Mr. Vitelli, the creator and leader of Azimut at that time, prior to his acquisition of Benetti in 1985. I saw him as a pivotal entrepreneur in the yachting sector. Since that time, I have cherished innovation in sailing.
At Sanlorenzo, I believed we might, for the first time in yachting history, construct a vessel capable of generating power without carbon emissions, discharging just water back into the sea; I considered this to be exceptionally significant. It resembled a vision that foretold the future.
I had the concept on August 12, 2021, just after the onset of the Covid-19 epidemic. During my holiday, I began to contemplate, as is customary for me after ample rest and rejuvenation, a multitude of new thoughts. I conversed with a Swiss client and acquaintance who was highly attentive to the alterations in weather, pollution, and related subjects. He stated, “Max, you persist in operating these large yachts, generating carbon emissions and consuming energy.” Why do you not address this issue?
During that period, my daughter Cecilia accompanied me. She favors sailboats to motorboats and stated to me, “Dad, I believe he is correct.” We are taking no action on this issue. The collaboration between my friend and my daughter prompted me to initiate contemplation, leading me to inquire with my Research and Development department for potential answers.
After several days, they elucidated the potential of utilizing fuel cells. They informed me that Siemens Energy, with whom we collaborated on diesel-electric technology, was the preeminent fuel-cell manufacturer, mostly for military applications such as submarines.
Siemens Energy successfully implemented hydrogen technology in submarines but had not yet developed a solution for yachts. Subsequently, it identified a solution utilizing 'green' methanol, sometimes referred to as renewable methanol or bio-methanol, converting it into hydrogen and subsequently into electricity via a fuel cell, a validated technology.
We have reached an agreement with Siemens to construct the inaugural 50Steel utilizing that system, which is exclusive to Sanlorenzo, so demonstrating the feasibility of this technology to the world. Subsequently in 2021, we delineated our 'Road to 2030,' and I am pleased to report that we are aligned with the established milestones.
During Boot Düsseldorf this year, you delineated your collaboration with MAN to create bi-fuel propulsion utilizing both methanol and diesel, intended for the 50X-Space set for 2027. What is the source of your enthusiasm for this technology?
As the owner of Almax, I must inform customers that locating methanol on a small island in Greece is not always straightforward. Despite manufacturers and technology being prepared to produce complete methanol engines, methanol is not consistently accessible to individual boat owners due to logistical constraints.
Nonetheless, if you possess a bi-fuel engine, you may utilize diesel as fuel in the absence of methanol. It permits adaptability. Regarding accessibility, cost, and productivity, I contend that the use of green methanol in conjunction with bi-fuel engines for propulsion and complete methanol generators is the optimal alternative for the forthcoming years.
We opted for methanol in the bi-fuel engine due to its status as a highly promising alternative for the future of maritime transportation. It exists as a liquid at room temperature, is biodegradable, and is facile to manage. It does not necessitate dedicated infrastructure, rather the modification of current facilities.
Moreover, when derived from renewable sources, green methanol serves as a carbon-neutral fuel, aligning with our net-zero objectives. In the future, we can transition to fully methanol engines as they become more accessible. The quantity of vessels equipped with green methanol engines and designated 'green lanes' for their utilization is rising, particularly in Northern Europe, where green methanol is accessible for passenger ships. It is currently accessible in more than 100 ports worldwide.
What motivates your dedication to sustainable technology?
In envisioning the future of the boating industry, I consider the younger generations who are highly attuned to sustainability and eager to adopt more environmentally friendly solutions promptly. Superyacht ownership entails significant societal responsibility for sustainability, which we consider our obligation.
Entrepreneurs such as me are tasked with anticipating client needs through the development of innovative technology. In terms of sustainability, we must take the lead in the market and demonstrate the path forward.
We must locate suitable partners prepared to alter the established norms. We experienced this with Siemens Energy regarding the fuel cell project on the 50Steel, and with MAN concerning the bi-fuel engine on the 50X-Space. We collectively envision a more sustainable approach to maritime activities.
Furthermore, when employed by a market-leading organization recognized for its innovation, individuals with novel ideas approach you, confident in your receptiveness to such suggestions.
The 50Steel Almax is replete with innovations. The vessel is recognized for its fuel cell technology, although it also features other remarkable advancements, like the hidden engine room (HER) system. The individual who filed the patent, one of my technicians, presented the concept of relocating the engine room to a lower level, so allowing for the addition of an extra saloon. I possess a keen ability to discern the merit of an idea. If it is favorable, I engage with considerable enthusiasm.
Throughout the years, Sanlorenzo has unveiled numerous innovative boat designs. Which do you consider to be the most significant?
Innovation has been central to Sanlorenzo since my acquisition of the company. I contemplate it incessantly. Initially, I will recount my tenure at Azimut-Benetti, during which I developed two significant inventions.
At the age of 32, I devised a method for adhering the window to the superstructure, rather than employing metal for their connection. It was significant since it allowed for the creation of variously shaped windows on smaller, mass-produced vessels. At the age of 42, I designed the Azimut 68, with opening hull windows on both sides, a concept subsequently embraced by other brands.
Shortly thereafter, I departed for Sanlorenzo, a premier brand manufacturing fiberglass boats of up to 100 or 120 feet. I required a novel concept to capture the market's interest. Beginning with a 40-meter yacht constructed from aluminum or metal, I sought a beautiful design; hence, we innovated the terrace adjacent to the saloon and the main cabin, a groundbreaking advancement in our industry subsequently emulated by other manufacturers.
Approximately ten years ago, the 42m 460GT explorer (460EXP) was introduced in 2015 as the inaugural model of a new product range, which has since expanded to include the 47m 500EXP. A significant advancement has been the asymmetric design, begun with the SL102A planing boat in 2018.
The most renowned is our SX range, featuring an entirely novel design that significantly transformed market paradigms. We developed SX with our technical team in response to the significant financial crisis from 2008 to 2013, which severely impacted the firm. During a challenging period, we gathered around the table with no market activity and contemplated what customers might desire following this crisis. What types of products should we develop to meet future demands?
The financial turmoil eliminated clients who purchased boats for ostentation rather than a genuine passion for the water. Our clients desired proximity to the sea, access to aquatic toys, and opportunities for water play; hence, we developed the expansive open aft deck in lieu of a 1.2m swim platform. The aft deck of the SX yachts accommodates a substantial tender, which can be launched into the water, creating an expansive terrace beside the sea.
We also inclined the windscreen forward to enhance the vertical clearance and spatial dimensions of the master stateroom on the main deck. Gradually, we devised a new vessel. Currently, SX remains the company's most lucrative division.
What further factors distinguish Sanlorenzo from other shipyards?
We are unpretentious. It may be paradoxical to consider a shipyard constructing superyachts as understated, however it is indeed the case. The yachts of Sanlorenzo’s Yacht Division (the SL, SD, SX, and SP fiberglass series ranging from 24 to 40 meters) do not exhibit the model name on the vessel's exterior.
Our clients are dissatisfied with the dimensions indicated on their vessel. They resemble a consortium of connoisseurs, seasoned yachtsmen. They purchase a Sanlorenzo yacht due to its understated elegance. It is robust, exceptionally durable, and tailored to specifications—referred to as 'made to measure'—while also maintaining a significant resale value.
Our sailboats possess greater weight than those of our competitors, resulting in reduced speed and potentially diminished sportiness, although significantly enhanced solidity. Upon opening the door of a Mercedes or assessing the seats in comparison to a BMW or Audi—both of commendable quality—the Mercedes exemplifies superior craftsmanship.
Several of our competitors manufacture hundreds of boats each year. We construct 70 annually. The rarity contributes to the understated luxury, which our owners appreciate. Each brand possesses its own distinctiveness. Sanlorenzo's essence is founded on the principles of quality, elegance, reliability, workmanship, product scarcity, and understated luxury. I believe those attributes render us distinctive.
Sanlorenzo is a design-centric shipyard that collaborates with prominent art fairs, exhibitions, and galleries. In what manner do you integrate your advocacy for art with your yacht designs?
Design was the primary consideration when I acquired Sanlorenzo. The initial concept was to depart from the practice of exclusively utilizing cherry wood, resulting in uniformity across the boats.
We significantly impacted the market by engaging renowned architects and designers, like Rodolfo Dordoni, Antonio Citterio, Piero Lissoni (the company's Art Director since 2018), Christian Liaigre, and Patricia Urquiola, all of whom contribute innovative concepts. The market readily comprehended that Sanlorenzo remained at the pinnacle, consistently introducing fresh concepts and inventions from its creators.
Engaging in noteworthy endeavors naturally attracts individuals seeking further information, so establishing an inherent link to the design realm. I began to explore the art world due to the significant interest expressed by many of my clients in this domain, particularly in relation to art and design. Inspired by our boats adorned with art, we chose to cooperate with the prestigious art exhibition, Art Basel, establishing Sanlorenzo VIP lounges at the fairs in Hong Kong, Miami, Basel, and Paris.
We are exhibitors at Milan Design Week and received our inaugural Compasso d’Oro prize in 2020 for our exhibition design (Sanlorenzo also won in 2024 for the SP110 boat). In 2022, Sanlorenzo and Valentino served as the principal sponsors of the Italian Pavilion at the Venice Biennale. During that time, I developed an affection for Venice and resolved to purchase a residence opposite the Basilica Santa Maria della Salute, which will be named Casa Sanlorenzo.
Whom have you found most inspiring in your life, and whom do you inspire?
Mr. Vitelli and the Vitelli family are unequivocally my top priority. He was present at the inception of all events. I aspire to motivate my son Cesare, who has been employed at Sanlorenzo for four years. Recently, my daughter Cecilia joined Nautor Swan, despite her previous assertions that she would never collaborate with me. She has now joined the company to work for Nautor Swan.
I aspire to influence them by my diligent example. They recognized that achieving a goal required diligent effort and considerable exertion. No precipitation is occurring from the atmosphere. The 1980s presented particularly arduous labor as the yachting industry was in the process of being established.
Today, it is more established; thus, I hope my children will not have to exert as much effort as I did and will have more time for personal pursuits. Motivating them represents my ultimate aspiration and would constitute my final achievement. I intend to devote significant time to imparting the knowledge and skills I have acquired over the past 40 years, initially gained from Mr. Vitelli.
In 2019, I decided to list the company on the [Italian] stock exchange to avoid compelling my children to assume managerial roles. They can choose to be either managers or only shareholders, which I believe represents the utmost freedom.
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