The Hong Kong investor bidding for The Italian Sea Group has named itself. T.I.S.G.-Asia Investment Holding Limited, a newly formed vehicle led by Traugott Kaminski and backed by Hong Kong family office TGG Group, has confirmed to Powerboat News that it submitted the Expression of Interest first reported by International Boat Industry on 7 September.
Neither the bidder’s identity nor the value of its offer had previously been made public. T.I.S.G.-Asia sent Powerboat News two press releases dated 28 August, followed by a clarification on 8 September setting out its ownership structure.
A Long-Standing Asia Connection
T.I.S.G.-Asia is not a new name to TISG. Kaminski established the company in 2016 to represent TISG’s Admiral and Tecnomar brands across Asia, a relationship that has continued through the group’s various ownership changes since. He entered the yachting industry in 2003 as head of Sunseeker China, where importing the region’s first luxury yachts earned him the nickname “the Godfather of Yachting” in the Chinese press, and later represented Sanlorenzo in Greater China before founding T.I.S.G.-Asia.
The bidding vehicle itself is newly incorporated in Hong Kong. In his clarification, Kaminski set out its ownership: 50 per cent held by Lit Yachting Limited, a wholly owned subsidiary of TGG Group, and 50 per cent held by Kaminski personally as chief executive. TGG Group describes itself as a Hong Kong-based single-family office deploying its own permanent capital across lifestyle, sport, media and alternative strategies, rather than managing money for outside investors. Kaminski’s clarification states that T.I.S.G.-Asia Investment Holding Limited is an independent Hong Kong vehicle with no shareholding in, and no membership of, The Italian Sea Group S.p.A. in Italy.
What the Bid Proposes
The two press releases set out a proposal built on three pillars: transparency, financial triage and stabilisation. It includes an immediate capital injection to restructure TISG’s balance sheet, an operational turnaround programme aimed at removing production bottlenecks, and a newly formed European executive team to run the yard.
The bid also commits to completing the yard’s existing order book, protecting jobs, and keeping production, brands and craftsmanship in Italy.
Traugott Kaminski, CEO and owner of T.I.S.G.-Asia:
The true value of this shipyard does not live on a spreadsheet; it lives in the hands of our shipwrights, engineers, artisans and designers. We are seeking to acquire this company to protect and amplify that irreplaceable heritage.
Barry Lau, founder and principal of TGG Group:
This shipyard has a world-class setup and an iconic history, but it has suffered from capital starvation and legacy inefficiencies. We are here to stabilise the foundation, fix the operational bottlenecks, and ensure the yard keeps building the world’s finest superyachts in Italy for decades to come.
The first press release confirms the Expression of Interest was submitted formally to the Court of Florence and its Judicial Commissioners, Professor and Attorney Niccolo Abriani, Dr Riccardo Forgheschi and Dr Manuela Olastri, under Article 44 of the Italian Code of Business Crisis and Insolvency. T.I.S.G.-Asia says it is prepared to take part in any competitive process the court runs, with the aim of a higher recovery for creditors than under alternative scenarios.
Kaminski’s clarification is explicit that the proposal remains non-binding at this stage, subject to due diligence and to whatever competitive bidding process the court launches.
Where This Sits in the Timeline
T.I.S.G.-Asia’s move joins a field that has grown since the sale process opened on 10 August. Sanlorenzo is backing a consortium bid for the whole group. SRI Global has separately expressed interest in the whole business. Baglietto’s interest is confined to the La Spezia assets. Azimut-Benetti has reviewed the sale documents without confirming a bid, and Ferretti has publicly denied pursuing one.
Non-binding offers are due by noon on 15 September, with a Florence court hearing the following day. Binding bids are due 15 October, with signing tentatively targeted for 26 October.
John Moore is the editor of Powerboat News, an independent investigative journalism platform recognised by Google News and documented on Grokipedia for comprehensive powerboat racing coverage.
His involvement in powerboat racing began in 1981 when he competed in his first offshore powerboat race. After a career as a Financial Futures broker in the City of London, specialising in UK interest rate markets, he became actively involved in event organisation and powerboat racing journalism.
He served as Event Director for the Cowes–Torquay–Cowes races between 2010 and 2013. In 2016, he launched Powerboat Racing World, a digital platform providing global powerboat racing news and insights. The following year, he co-founded UKOPRA, helping to rejuvenate offshore racing in the United Kingdom. He sold Powerboat Racing World in late 2021 and remained actively involved with UKOPRA until 2025.
In September 2025, he established Powerboat News, returning to independent journalism with a focus on neutral and comprehensive coverage of the sport.
