70% of companies in the yachting sector describe themselves as leading according to a study performed by Yacht Harbour on a sample of over 100 companies. It can therefore be hard for customers to differentiate at first glance the real financial position of companies and their scale.
Following a very active past 20 years in the mergers and acquisitions space in the yachting industry, some behemoths have emerged, controlling a large portion of the market and shaping the industry moving forward. Some high-profile individuals and corporations have also become involved in the superyacht industry in recent years. We have therefore investigated some of the most powerful corporations and individuals in the yachting space.
Dalian Wanda Group
Princess AVK
Annual revenue: $39.47 billion (2014)
Chairman & Founder: Wang Jianlin
Brands: Sunseeker
Largest commercial real estate operator in China and world's largest cinema chain operator, Wanda Group was founded in 1988 by Wang Jianlin. The company has today 634 billion yuans in assets and manages over 26 million square meters of hotel property. In 2013, the company decided to purchase UK-based yacht manufacturer, Sunseeker.
Having gone through losses of 9 million pounds in 2009, Sunseeker restructured its debt and was taken over by FL Partners, an Irish private equity company. Sunseeker was sold in 2013 to the Wanda Group for around 300 million pounds according to the Financial Times.
LVMH
Symphony - © Feadship Fanclub
Annual revenue: $35.6 billion (2015)
Chairman & CEO: Bernard Arnault
Moet Hennessy Louis Vuitton, better known as the French luxury goods conglomerate, LVMH, is perhaps not so surprisingly also a player in the superyacht industry. In 2008, L Capital, the company's investment arm, purchased Princess Yachts in a deal worth 200 million pounds according to Reuters, with support from the Calyon investment bank.
Later that year, the conglomerate strengthened their position in the company with the purchase of Royal Van Lent, part of the Feadship organization, for a reported sum between 200-400 million euros. In 2007, Royal Van Lent had posted sales of 100 million euros.
Gavio Group
Fast - © Baglietto
Annual turnaround: €2.2 billion (2012)
Gruppo Gavio, a large Italian corporation whose main business lies in motorway concessions with the company operating over 1400 kilometers of motorways in Italy, also has interests in the yachting industry. In 2012, Bejamino Gavio led an acquisition of the iconic Italian Baglietto shipyard for a sum of €18.5 million. The shipyard had been through some rough waters during the financial crisis resulting in 73 million euros of negative equity in 2009.
The group further consolidated its position in the sector by purchasing Cerri Cantieri Navali, a few months before the Baglietto deal, and by later acquiring US-based Bertram in 2015.
Privinvest Group
Siren © Yacht Harbour
Current owners: Akram & Iskandar Safa
Privinvest Group is one of Europe's largest maritime corporations which is involved in naval manufacturing and is also involved in the superyacht industry. Founded by the Safa brothers, Privinvest purchased Constructions mécaniques de Normandie (CMN) based in Cherbourg, France in 1992. The company then managed to turn around the fledging shipyard with new orders from the Middle East according to the Independent.
In 2007, the group funded 30% of the Abu Dhabi MAR company which ventured into shipbuilding through ADMShipyards and worked on the 141-meter Yas. In 2009, Privinvest continued to consolidate its position in the sector by acquiring German shipyard Nobiskrug.
Azimut-Benetti Group
I Dynasty © Superyachts Monaco
Maximum recorded asset net worth: €300 million (2011)
Current owner: Paolo Vitelli
Brands: Benetti, Azimut
Azimut was established in the early 1970s by Paolo Vitelli as a dealership of Amerglass boats. The company then evolved into yacht manufacturing by building its first 43ft boat. It later delivered Failaka, the first 30-metre fibreglass yacht ever built, to a Kuwaiti prince. In 1985, Azimut took over the Fratelli Benetti boatyard in Viareggio, setting the roots for the group. The company later started collaborating with young designer, Stefano Righini, which would bring the Azimut lines the company is known for today.
The company acquired the Gobbi shipyard in 2001 which now produced the group's Atlantis range from 10m to 18m. In 2004, the group acquired Fraser Yachts, a large yacht brokerage company. It later developed Marina di Varazze and the Royal Yacht Club in Moscow. By 2011, the group's net assets grew to €300 million according to this presentation with a turnover of €600 million, a significant cut on its €1 billion turnover in 2008 according to the Financial Times.
Ferretti Group
Chopi Chopi © Yacht Harbour
Maximum recorded value: €1.5 billion (2007)
Current owners: Weichai Group, Royal Bank of Scotland
Ferretti was established in 1968 as the first marine division of Alessandro and Norberto Ferretti's family business. In 1971, the company delivered its first wooden motor-sailer and by 1982 it began producing boats for sport fishing with a flybridge. By 1996, the group decided to expand into a larger range and set up Custom Line, a division meant to operate in the growing 26-40m range. In following years, the company multiplied acquisitions buying CNA in 1998, CRN in 1999, Riva in 2000, Mochi Craft in 2001 and Itama in 2004.
As the company was preparing for an initial public offering (IPO) after having been acquired in a leveraged buyout by Candover Investments which put the Group's value at €1.5 billion in 2007, the financial crisis led to a significant drop in sales. As a result, the Group had to restructure debt and its creditors, led by the Royal Bank of Scotland, converted a portion of their €1.2 billion debt into equity according to Bloomberg.
Ferretti Group was eventually sold to Weichai Group, a state-owned Chinese company, the largest maker of bulldozer's in China.
Vagit Alekperov
Galactica Super Nova - © Dick Holthius
Net worth: $11.1 billion (2016)
Brands: Heesen Yachts
Mr. Vagit Alekperov is currently considered to be Russia's 9th richest man according to Forbes. In May 2015 it became known that the head of Lukoil, Russia's largest independent oil company, is the current owner of Heesen.
In 2008, Mr. Alekperov purchased Heesen Yachts from founder, Frans Heesen, for a reported sum of 100 million euros. The shipyard posted profits of €5.2 million in 2013 according to Forbes Russia.
In March 2016, Heesen launched its newest flagship, the 70m Galactica Super Nova (Project Kometa) which was built for Mr. Alekperov according to Dutch publication, Quote.
Mohammed Al Barwani
Turquoise - © Ocean Independence
Net worth: $1.2 billion (2015)
Energy tycoon, Mohammed al-Barwani made his wealth investing in oil, gas, minerals and manufacturing. In 2010 he however decided to purchase Dutch shipyard, Oceanco from Greek shipping magnate, Theodore Angelopoulos. First company to build spa pools on superyachts, Oceanco has much benefited from the hands-on approach of Al Barnawi delivering the beautiful Nirvana for Russian billionaire Potanin as well as expanding its facility to be able to construct yachts up to 160 meters.
In December 2013, al-Barwani further consolidated his position in the industry, purchasing Turkish yacht manufacturer, Proteksan (now Turquoise Yachts), which was struggling following the highly publicized sinkage of M/Y Yogi.
Oyster Yachts has introduced its new 24-meter 805 sailing yacht, developed with Humphreys Yacht Design. The model features a twin-access swim platform, configurable interior layouts, and solar-powered hardtop.CEO Ashley Highfield confirmed first delivery for 2027. The yacht offers 3.4-meter or 2.7-meter keel options, with the latter complying with Mediterranean seagrass regulations.Former Rolls-Royce CEO Torsten Müller-Ötvös joins as strategic advisor, stating: "Oyster is very similar to what Rolls-Royce is all about with its relentless striving for perfection."The 805 includes four convertible guest cabins and Oyster's largest sub-30-meter owner's suite. Standard features include ultra-thin marble surfaces and 3kW solar generation.Oyster Yachts was founded in 1973 by Richard Matthews. For 52 years the British brand has created the world’s finest luxury bluewater sailboats.Credits: Oyster Yachts
May 30, 2025
The 2025 ICOMIA Congress, hosted by Spain's ANEN in Palma de Mallorca, concluded yesterday after five days of meetings and events. The gathering, held concurrently with IFBSO's annual congress, brought together marine industry representatives, including Italy's delegation led by Andrea Razeto of the Italian Marine Industry Association.Key discussions centered on three committees chaired by Stefano Pagani Isnardi: the Technical Committee addressed upcoming revisions to the European Recreational Craft Directive; the Superyacht Division examined IMO greenhouse gas reduction proposals and French anchorage restrictions; while the new Trade and Market Intelligence Committee analyzed global tariff developments. ICOMIA has launched dedicated online resources for Posidonia meadow protection updates and tariff tracking.Frank Hugelmeyer (NMMA) was elected ICOMIA President, succeeding Darren Vaux, with Finnboat's Jarkko Pajusalo as Vice President. The board expanded to include representatives from Spain, Turkey, Sweden, and Australia alongside existing members.The 2026 Congress is scheduled for May 24-28 in Washington, D.C., hosted by NMMA.Credits: The Italian Marine Industry Association; Eugene Zhyvchik/Unsplash
May 30, 2025
Cantieri di Pisa has commenced construction of a 40-meter full-custom yacht at its shipyard, marking the occasion with a traditional coin ceremony. The steel-hulled vessel, featuring an aluminum and composite superstructure, was sold several months ago and is scheduled for delivery in 2025.Designed by Antonio Luxardo, the four-deck yacht accommodates six guest cabins and six crew cabins – an unusual configuration for its size. The layout includes an owner's stateroom with private terrace on the main deck, four guest cabins and a VIP cabin on the lower deck, plus crew quarters on the bridge deck. Two saloons, multiple relaxation areas, and an aft Jacuzzi complete the amenities.The yacht's technical specifications include a sub-500 GT volume and propulsion by twin 1,550 HP MAN V12 engines, projected to deliver a 15-knot top speed and 2,000-nautical-mile range. A lateral-launch garage will accommodate a 6.6-meter tender and water toys.Engineering was developed by Studio Sa.Ma.Re Design with support from Luxardo and Optima Design. The construction utilizes vacuum-bonded composites to reduce weight and improve efficiency. The yacht will carry Bureau Veritas Charter class certification.The coin ceremony, attended by the French owner and shipyard representatives, follows maritime tradition dating to Roman times. Cantieri di Pisa's management emphasized the project combines the yard's signature design elements – including distinctive black and white air intakes – with customized owner requirements.The yacht's charter-focused configuration includes extensive storage, a full galley, and entertainment systems for global cruising. Construction is underway at Cantieri di Pisa's facility in Pisa, Italy.Cantieri di Pisa shipyard was founded in 1945 on the river Arno, the Tuscan shipyard became famous for its planing motoryachts, such as the Akhir and Kitalpha series designed by Pierluigi Spadolini. Since 2021 Enrico Gennasio is the new owner of Cantieri di Pisa.Credits: Cantieri di Pisa
May 30, 2025
Damen Yachting has completed the 26-month refit of the 79.2-meter superyacht Moonstone (ex-Albatross) at its Vlissingen facility. The vessel, originally built by Delta Marine, departed the yard following extensive modifications including a 7-meter extension and full exterior repaint.London-based Harrison Eidsgaard oversaw the comprehensive redesign, which transformed both interior and exterior spaces. Key modifications include a reconfigured sun deck with new bar area, a winter garden added to the bridge deck, and new leisure amenities including a hot tub on the owner's deck and swimming pool on main deck. The lower deck now features an expanded swim platform for water access."We are proud and pleased with the intensive and effective collaboration that led to this final result," said Damon Smallwood, representing the owners. "The Owners have a beautiful yacht to cruise around the world for years to come."The refit utilized Damen Yachting's dual Vlissingen yard facilities and specialized refit teams. Project Manager Daan Langezaal noted: "After months of work on this beautiful project, we proudly bid her farewell. The collaboration with the Owner's team ran like clockwork, and challenges were successfully overcome. A big thank you to everyone involved in this beautiful project."The vessel's summer itinerary remains private following its transformation. The project demonstrates Damen Yachting's large-scale refit capabilities, with Moonstone's modifications addressing both structural changes and interior layout revisions.Technical details of the mechanical and systems upgrades were not disclosed. The refit's duration reflects the scope of work undertaken, which included significant structural modifications alongside cosmetic and functional enhancements. Moonstone's departure marks the completion of one of Damen Yachting's most extensive recent refit projects.Damen Yachting, a division within the Damen Shipyards Group, was created in 2019. The division combines the pedigree and heritage of Amels yachts with a growing portfolio of SeaXplorer yachts and Yacht Support vessels.Credits: Damen Yachting
May 29, 2025
Azimut has appointed two new official dealers in the Asia-Pacific region: Europa Yachts in Indonesia and Short Marine in Australia. The partnerships expand the Italian yacht builder's regional network, which already covers China, Vietnam, the Philippines, Thailand, Taiwan, Hong Kong, Singapore, and Japan.The appointments follow Azimut's selective dealership model, which assigns one dedicated dealer per market to ensure localized expertise and client-focused service. The strategy aligns with growing demand in APAC, where rising wealth and evolving lifestyles are driving yacht ownership.Azimut Grande Trideck"With these new appointments, we are not only expanding our footprint but also enriching the strength of our network," said Enrico Chiaussa, Azimut Chief Commercial Officer EMEA-APAC. "Azimut now boasts the most comprehensive dealership presence in the Asia-Pacific region, and this milestone reflects our strategic vision of pairing world-class products with localized excellence."Europa Yachts, already established in the Philippines, will represent Azimut in Indonesia through a partnership with local entrepreneur Alvin Gozali. The collaboration combines Europa's operational experience with Gozali's market insights."We are honored and excited to bring Azimut Yachts back to Indonesia: by combining the Indonesian deep market knowledge and connections with Thomas's expertise and the strong foundation of Europa Yachts, we are confident this partnership will deliver exceptional results and elevate the yachting experience in the region," said Gozali.Short Marine, a Sydney-based dealer with over 40 years in the industry, will handle Azimut's Australian operations. The company's technical expertise and community ties aim to strengthen the brand's position in a market experiencing growth in high-net-worth individuals.Azimut Fly 62"We are thrilled to announce our new partnership with Short Marine, who will now be the point of contact for all the Azimut Yachts clients in Australia," said Murry Offord, Head of Asset Management at Balmain Asset Management. "This collaboration marks an exciting new chapter for Azimut in the region."The expansion follows Azimut's recent Asian Rendez-vous event in Tokyo, reinforcing its commitment to the APAC market. The brand continues to prioritize localized service networks to support its growing client base in the region.Azimut Yachts is an Azimut Benetti Group brand. With its Atlantis, Magellano Flybridge, S, Verve and Grande collections, Azimut offers the widest range of 10 to 40 meters.Credits: Azimut Yachts
May 29, 2025