MarineMax, the world’s largest recreational boat and yacht retailer, has announced that it has entered into a definitive agreement to acquire Island Global Yachting LLC (“IGY Marinas”).
MarineMax will acquire IGY Marinas for $480 million in cash, with an additional potential earnout of up to $100 million two years after closing, subject to the achievement of defined performance metrics. IGY Marinas, through recent acquisitions and organic growth, is projected to generate over $100 million of revenue in 2022. Subject to the satisfaction of customary closing conditions, MarineMax expects the acquisition to close in the first half of fiscal 2023 and to be accretive within the first twelve months of closing.
IGY Marinas is a global network of 23 curated marinas in the Americas, the Caribbean, and Europe. It is further bolstered by the exclusive Trident superyacht membership program, expansive service offerings, and comprehensive yacht management platform. IGY Marinas is also the venue for exclusive events such as the Cannes Yachting Festival.
“We are delighted to announce our acquisition of IGY Marinas, a transformative transaction for MarineMax, that significantly strengthens our ability to provide the best customer experience to yacht owners around the world,” commented W. Brett McGill, Chief Executive Officer and President of MarineMax. “The addition of IGY Marinas positions MarineMax as the preeminent leader in the superyacht industry — the only company able to offer an integrated experience coupling high-value superyacht berthing and marina services in premier locations with exclusive superyacht service offerings. Moreover, this investment continues to diversify our business mix with not only higher margins but also a larger geographic footprint, especially in highly desired destinations in the Mediterranean and the Caribbean.”
IGY Marinas will maintain its luxury branding that is well recognized as best-in-class in the global marina and superyacht communities. Tom Mukamal, CEO of IGY Marinas, and the IGY Marinas existing management team will continue to lead the growth and operations of the business.
Credits: IGY Marinas
Evo Yachts Evo R+ boasting an impressive length of nearly 18 meters and a beam of 5.31 meters, and became a testament to the shipyard's commitment to innovative design and versatile functionality.The yacht, a proud member of the R line, showcases Evo Yachts' dedication to conviviality and versatility. With an enclosed main deck and a groundbreaking stern platform, the Evo R+ is tailored for extended cruises, delivering both style and comfort.Crafted for modern yacht enthusiasts who appreciate a sporty and streamlined aesthetic, the Evo R+ features an enclosed main deck with expansive interiors, ensuring a heightened level of comfort. Designed in collaboration with Valerio Rivellini, the interiors reflect a dynamic yet sophisticated style, balancing dynamism with onboard luxury.The yacht's profile is accentuated by an edgy black aluminum top, reminiscent of sports car design. The helm station, enveloped in windows, provides a 360-degree view, while openings allow for natural ventilation. The main deck is flooded with natural light, hosting a versatile lounge, well-appointed galley, and dining table, creating an inviting space for conviviality.The stern area is a revelation, offering a spacious sun pad, convertible into a table, and a large bar unit with a fridge, ice maker, and sink. The innovative platform, exclusive to the Evo R+, facilitates easy water entry and tender or jet ski operations.Below deck, the Evo R+ maintains its dynamic style with clean lines and sophisticated materials, exemplified by the warm Alcantara fabrics and a palette centered around white, teak, and carbon. Forged carbon fiber enhances the sporty allure of the interior decor.The lower deck comprises three cabins, including the forward owner's cabin, two guest cabins aft, two bathrooms, and a dining area. The independently assessed crew cabin is situated forward.Powering the Evo R+ are two Volvo Penta IPS 950s, delivering an impressive top speed of around 33 knots and a cruising speed of 27 knots.The Evo Yachts shipyard is based near Naples. She was born in 2014 from a fortunate encounter between Blu Emme Yachts and the Neapolitan yacht designer Valerio Rivellini. The heart and entrepreneurship that kick-started EVO originated from Blu Emme Yachts, a luxury yachts refitting company. Blu Emme was created in 2013 by the Mercuri brothers, a family whose entrepreneurial experience spans different industries.Credits: Evo Yachts
October 2, 2023
Denison Yachting's European operations celebrated a successful inaugural year at the Monaco Yacht Show, shedding light on achievements and future prospects in the superyacht sales and charter market in Europe. AresteasUnder the guidance of Director Jeremy Roche, Denison Europe showcased impressive growth, including a recent move to a significantly larger Monaco office, now accommodating a team of ten. Roche shared that the new Le Panorama office is three times the size of its predecessor.Bob Denison (photo by Tim Foster)On the sales front, Denison Europe marked the sale of 13 yachts in the past year, amounting to an estimated €70 million. The company currently holds 21 central listings in Europe, with a combined value of €90 million, including two new builds – an already delivered Princess Y85 and a 50m Dynamiq scheduled for delivery in March 2025.Jeremy Roche (photo by Tim Foster)The charter division also witnessed expansion, with Charter Management becoming part of Denison's European portfolio in January 2023. Denison now manages eight charter yachts in Europe, with the 51m Yildizlar Aresteas serving as the flagship. Reflecting on the recent charter season, Roche acknowledged some challenges but expressed optimism for 2024 with increased bookings and inquiries.Princess Y85While acknowledging the inherent unpredictability of the market, Roche stated, "The outlook currently looks positive." Despite adjustments from the market's peak in 2021/22, there is sustained demand, high inquiries, and a rise in confirmed Central Agreements. The company is eyeing expansion with potential locations in Palma, London, Istanbul, and Dubai.AresteasDenison has long been a leader in the yachting industry with a rich family history dating back to 1948, and the start of Broward Marine in Fort Lauderdale. Today, the company provides complete yachting services worldwide, and operates out of over 20 waterfront offices with a team of 90+ licensed and bonded yacht brokers. Credits: Denison Yachting
October 2, 2023
Custom Line Navetta 38 has added the latest made-to-measure yacht in the brand’s displacement line. Boasting a fresh exterior and interior design, and setting new benchmarks for cruising luxury, this exquisite yacht measures 38.76 meters in length and 8 meters in beam, featuring a displacement hull under 300 GT. The creation of this sublime vessel is the outcome of a collaboration between the Strategic Product Department, spearheaded by Piero Ferrari, and the Engineering Department of the Ferretti Group. The exterior styling was made by architect Filippo Salvetti and interior design by ACPV ARCHITECTS Antonio Citterio Patricia Viel.The exteriors are characterized by a timelessly classic design language that features simple, harmonious lines expressing absolute luxury with elegance and refinement. The key word is flexibility: Custom Line Navetta 38 has been designed to enhance the experience offered by its interior spaces. Another strong focus was on natural light, with extensive full-height windows creating powerful continuity between external and internal spaces and a feeling of harmony with the marine environment. This superyacht was designed to maximize the usage of all available space on the four decks, with a large master suite of over 40 sq m and completely separated crew and guest flows to ensure maximum privacy. The stern area is a unique and innovative feature on board Custom Line Navetta 38 and a completely new take on the full-beam beach deck concept.The beach club and main deck cockpit, spanning over 70 sq. m, embody the flush deck concept with an open and versatile design. Modular units furnish the area, creating a generous space at the water’s edge. This appealing beach club offers relaxation with a sea-facing couch for panoramic views and a spacious swim platform for direct water access. The rational layout enhances practicality. Glass parapets on the main deck and sundeck foster continuity with the open sea. The 70 sq. m sun deck transforms into an exceptional socializing and relaxation area, featuring a sea-view hot tub, sun lounge, and open-air dining under a painted hard top. Expansive glazing provides a stunning 180-degree view.The interior design is developed around a concept based on refined detailing and the use of fine materials with natural textures, including various types of leather and also linen and parchment, chosen both for the finishings and the upholstery and coverings. The custom-designed furnishings are skilfully handcrafted by the shipyard’s expert personnel.Custom Line Navetta 38 has a master suite and four guest cabins on the lower deck, accommodating a total of 10 people on board and 7 crew members, including the captain.Ideal for covering long distances with low fuel consumption and to enjoy category-beating performance, the standard engines are 2 MAN units rated 1,400 hp. They drive the yacht to a top speed of 15 knots, with a range of about 2,800 nautical miles at an economy cruising speed of 10 knots (preliminary data). The design is also SCR (Selective Catalytic Reduction) ready and installing the system brings a 70% reduction in NOx emissions (IMO3 compatible).“The birth of a new Navetta always exceeds expectations. We achieve this goal by drawing on talented designers who create magnificent new balances between form and function”, says Ferretti Group CEO, Alberto Galassi.The first unit is under construction at the Ferretti Group Superyacht Yard in Ancona, with delivery planned in 2024.The Ferretti Group, led by Chief Executive Officer Alberto Galassi, is now one of the world’s leaders in the construction and sale of luxury yachts and pleasure vessels, with a unique portfolio of brands: Ferretti Yachts, Riva, Pershing, Itama, Mochi Craft, CRN, Custom Line and Wally.Credits: Ferretti Group
October 2, 2023
Celebrating its 150th anniversary, Benetti revealed groundbreaking designs and eco-friendly initiatives during the "Shaping the Future" press conference at Hotel Hermitage in Monaco.Veranda Deck™ Revolutionizes Main Deck LoungeBenetti introduced the innovative "Benetti Veranda Deck™," disrupting the conventional boundary between interior and exterior on the main deck. The Veranda Deck opens up space on three sides, creating a seamless blend between the lounge and the stern. This concept debuts on the Motopanfilo 45M, a steel project paying homage to the iconic yachts of the 1960s, with the exteriors designed by RWD and interiors envisioned by Lazzarini Pickering Architetti.B.Yond 55M – Igor Lobanov’s VisionCollaborating with Igor Lobanov for the first time, Benetti presents the B.Yond 55M. Born from Paolo Vitelli and Stefano Righini's innovative vision, this vessel caters to intrepid owners desiring global exploration without compromising luxury. Lobanov's design focuses on fluid shapes inspired by luxury automotive aesthetics, offering a visually compelling experience.Project LIFE 85M – Espen Oeino’s TouchWith Espen Oeino handling exteriors and Francois Zuretti crafting interiors, Project LIFE, the 85-meter megayacht, epitomizes Benetti's commitment to inventing new lifestyles. Offering large, reconfigurable meeting spaces on each deck, the yacht boasts a revolving lounge, embodying a new era of social entertainment. Equipped with cutting-edge technologies, including hybrid solar panels, Project LIFE is designed for reduced consumption.Project ORO 85M – Valentina Zannier’s EleganceValentina Zannier's collaboration with Benetti on Project ORO focuses on sophisticated purity, with soft lines and three-dimensional movements defining the exterior style. Zannier's interior work creates a harmonious interplay between contemporary surfaces and classic details, evoking a sense of timeless elegance.Green InitiativesBenetti reaffirms its commitment to environmental responsibility, offering hybrid or diesel-electric propulsion across most of its range. The company aims to optimize energy consumption through innovative solutions, such as a Power Management system and advanced air conditioning and heat recovery systems. Benetti has also signed an agreement with Eni Sustainable Mobility for the supply of HVOlution, a biofuel with over 80% reduced CO2 emissions compared to traditional fossil fuel.Giovanna Vitelli, Chair of Azimut|Benetti Group, expressed pride in these advancements, emphasizing Benetti's mission to provide cutting-edge yachts to the market. The company's partnerships with leading designers and focus on sustainability reflect its commitment to shaping the future of yachting.Founded in 1873, Benetti is the oldest Italian shipyard specializing in luxury yachts. They design, build and sell composite vessels from 29 to 44m and steel and aluminum boats from 37 to over 100m. Their fleet consists of five categories: Class, Oasis, B.Yond, B.Now and Custom, to meet all the needs of the market, and they belong to the Azimut|Benetti Group, the largest privately owned luxury yachting group in the world.Credits: Benetti
September 29, 2023
In an enlightening session at the Yacht Club de Monaco, Nautor Swan hosted the Swan Maxi Talk, showcasing the maritime craftsmanship behind their renowned Maxi yachts. The distinguished panel included Nautor Swan President Leonardo Ferragamo, CEO Giovanni Pomati, CTOO Michelangelo Casadei, and Head of Product Marketing Vanni Galgani, providing insights into the creation of these stunning vessels.President Ferragamo shared a unique perspective as both a shipyard President and a passionate sailor. He emphasized the role of technological innovation as the driving force behind the desire for new Maxi yachts, transcending considerations of dimensions and layouts.CEO Pomati delved into the meticulous process behind crafting Swan Maxis, offering news about the sold second hull in the Swan 128, equipped with hybrid propulsion. The event marked the introduction of the latest addition to the Swan Maxi Family: the Swan 100, a collaborative effort of Frers, Micheletti, and Poggi.Pomati highlighted Nautor Swan's comprehensive range of Maxi sailing yachts, featuring the 88, 108, 128, and now the 100. He described the Swan 100 as an evolution, not revolution, emphasizing the brand's commitment to continuity. Naval Architect Germán Frers spoke of Nautor Swan's evolution, maintaining the brand's heritage. Lucio Micheletti's design focused on a light, safe deck setup, and Misa Poggi's interiors showcased Swan's adaptive approach.The Swan Maxi Talk concluded with Pomati teasing a future flagship, the Swan 148, underscoring Nautor Swan's ongoing commitment to Maxi yacht evolution.Nautor Swan was founded in 1966 in Pietarsaari, Finland. The builder entered the superyacht market in 1999. Since then, the yard has continued building high-performance sailing yachts in three different lines; ClubSwan, Swan Yachts and Maxi Swan Yachts. Credits: Nautor Swan
September 29, 2023