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
In the beginning of March Lürssen technically launched the 144-meter Project Cosmos in a construction site in Rendsburg. The construction started in 2020, making the 114-meter vessel one of the largest yachts currently in development. The megayacht features exterior and interior design by Australian designer Marc Newson. She spreads across four decks and has a large aft deck, a swimming pool, an observation lounge and helipad. She will be the first Lürssen yacht to feature fuel cell technology on board. Project Cosmos is scheduled for delivery in 2025.Lürssen is a German shipyard with headquarters in Bremen-Vegesack and shipbuilding facilities in Lemwerder, Berne and Bremen-Aumund. Founded in 1875, Lürssen is one of the world's leading builders of custom luxury superyachts and has launched many of the largest yachts in the global fleet.Credits: Video by OneHouseMedia/Lürssen YouTube
March 30, 2023
The Milan-based designer Enzo Manca revealed the concept, which he has drawn specifically for the Middle Eastern country. Named UAE One, the 140-meter megayacht was designed in collaboration with a Sheikh (unnamed for privacy) who wanted to create an official flagship of the nation. The vessel is convicted for international meetings, as well as multiple transfer options.“The idea of UAE One was born in 2020, during a very special meeting between me and a sultan of the United Arab Emirates on vacation in Italy,” said Manca in a statement. “The sultan was very clear and categorical, he wanted something really special and unique.”UAE One takes design cues from traditional defense ships but has a curvaceous silhouette that sets it apart from other vessels on the high seas. It also towers more than 39 meters and sports tinted windows that add to the aggressive attitude while providing extra privacy.Spanning nine decks, the vessel offers just over 2,800 sqm of space and has been outfitted to provide the best possible experience to monarchs, diplomats, and visitors. The interior is equipped with one owner’s suite, eight cabins, and 14 mini suites. There are also 35 cabins for the crew. Beyond accommodation, the yacht has three private meeting rooms for top-secret gatherings and a press area for briefings.UAE One isn’t all work and no play, though. The main deck is fitted with a striking, geometric swimming pool, while the foredeck features a huge circular sofa and a cozy fireplace. Elsewhere, guests can find a wellness center with a spa, an expansive swim platform for ocean dips, and a number of alfresco lounges for sundowners. UAE One can hold a full arsenal of vehicles for air, land, and sea. She has a “mini-internal port” for tenders and submarines, two helipads for choppers and one hangar. Manca didn’t share any details regarding propulsion, though it would require some serious horsepower to push this 140-meter vessel through the water.According to Manca the first official renderings of the interiors are expected to be ready by the end of 2023.Credits: Enzo Manca
March 30, 2023
The Genoa-based boatbuilder has sold the 80HT #007. “We’re always ready to introduce engineering and design modifications, but I can honestly say that this time we’re looking at the most extreme and advanced 80HT yet,” says Matteo Belardinelli, Otam sales and communication manager. “The client is not just an expert owner, he’s also an experienced captain and came to us with a detailed list of technical and aesthetic requests of his own.” The full Kevlar lamination of the hull and deck and the carbon fiber superstructure of the yacht are complemented by additional unidirectional carbon fiber for local reinforcements in high-load areas, resulting in an extremely robust and rigid structure that is also lightweight, delivering higher performance in terms of top speed and fuel consumption.While the twin MTU 2600hp engines coupled with Arneson drives and the hull lines by Umberto Tagliavini Marine Design & Services remain the same, almost everything else has been re-engineered according to the specific technical specifications of the owner-operator. More details will be released as the project progresses.To increase natural light and ventilation, the side windows of the yacht are larger than in previous iterations and can be opened electrically. The one-piece windscreen without pillars is also larger, and the hardtop comes with a redesigned sliding skyroof, offering the thrill of a pure Open while providing the protection of an enclosed helm station.While the interior layout is yet to be finalized, it will be fully tailored to the needs of the suite owner-operator, in line with Otam's bespoke approach.“The client came to us because he wanted to create something unique and exclusive and knew we would do what it takes to not only meet but also exceed his demands,” concludes Belardinelli. The 70HT is close to handover and the new 90GTS is currently under construction at the shipyard.The shipyard’s history started in 1954 in Liguria. Its professionalism is what made it stand out, very quickly becoming the first authorized Riva yacht Service Center for the Med Sea. In the 80’s Otam fit around 25 yachts for an American builder before starting his own production of Otam 45’ and 55’, earning significant attention. Today Otam has produced around 90 yachts, becoming an Italian specialist, and, together with its custom range, offers a limitless choice between 45’ and 130’.Credits: Otam
March 30, 2023
Italian shipbuilder Rossinavi has launched the 66m superyacht Alchemy. The yacht is a result of collaboration between the shipyard and Philippe Briand, Founder of Vitruvius Yachts, who is responsible for the exterior design of the vessel. The naval architecture was developed in-house. Alchemy is spread across three decks and commissioned by a private client who has very much been involved in every aspect of the design project. The owner also commissioned this with a brief to focus on the design of the outdoor areas and wellness aspects of the yacht. “I was very lucky to meet this owner, who guided and empowered the entire team involved in the creation of his superyacht. A real Alchemy, as the name evokes, a combination of elements, which leads to an original and refined result: a streamlined and elegant three deck vessel, 66m long, that fits perfectly with what Vitruvius Yachts represents”, says Philippe Briand. The interior was made by Enrico Gobbi – Team for Design. A striking feature of the interior design is the suspended staircase which takes center stage in the main saloon, connecting the bridge to the upper deck. This unique design element creates a connection with its suspended glass steps that are supported by two partitions of white Carrara marble. The staircase serves as both a functional and artistic element, adding to the overall elegance and sophistication of the yacht's interior.<iframe width=560 height=315 src=https://www.youtube.com/embed/i-PaStJ3k9M title=YouTube video player frameborder=0 allow=accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share allowfullscreen></iframe>The other highlights are large alfresco areas, especially asked by the owner. The yacht has a hot tub and garage for two tenders. The 66-meter vessel will be delivered later this year.Rossinavi is an Italian manufacturer of custom steel and aluminium superyachts 28m in size and larger. The Rossi shipyard was founded in the 1970s and is located in Viareggio.Credits: Rossinavi
March 29, 2023
Sanlorenzo announces the acquisition of a stake in Sea Energy, a company active in the design, production and installation of electronics and electrical systems for the yachting sector. Sanlorenzo acquired 49% of the share capital of Sea Energy, for a total amount of almost €2.7 million.With this transaction Sanlorenzo continues in the path of verticalization of its key suppliers. In addition, the expertise and experience of Sea Energy will enable Sanlorenzo to benefit from an excellent and highly specialized know-how, aimed at developing projects in line with the sustainability of Sanlorenzo.Sanlorenzo was supported in the legal due diligence and contractual negotiations of its recent acquisition of a 49% stake in Sea Energy by the Law Firm Musumeci, Altara, Desana and Associates. Andersen Italia provided assistance to Sanlorenzo for the accounting and fiscal due diligence. Lawyer Luca Polidori and Mr. Gabriele Dini, on the other hand, offered support to Sea Energy.Massimo Perotti“I am glad to announce the investment of Sanlorenzo in Sea Energy, a strategic partner, which allows us to reach a further step in strengthening the supply chain. Sea Energy has made innovation technology the key of its success, now representing an excellence of the territory. Sea Energy, in the last few years, has also developed a significant experience in the field of electric and hybrid propulsion; this know-how is fully consistent with our “Road to 2030” vision to develop innovative and sustainable technologies able to revolutionize yachting. I am sure that the contribution of Sea Energy will be valuable in this path”, comments Massimo Perotti, Chairman and Chief Executive Officer of Sanlorenzo. Sanlorenzo was founded in 1985 in Viareggio by yacht builder Gionvanni Jannetti. In 2005, Massimo Perrotti became the majority shareholder in the shipyard. Sanlorenzo builds yachts ranging from 28.60 to 62 meters in length. Credits: Daniele Barraco, Sanlorenzo
March 29, 2023