A leading US broker MarineMax has announced that it has entered into an agreement for acquisition of Fraser Yachts from the AzimutBenetti Group. The transaction is expected to be accretive in its first full year.
In addition, MarineMax strengthens its relationship with Azimut/Benetti through a multiyear exclusive dealership agreement for the Benetti Class of yachts in North America. Before that, MarineMax has represented the Azimut brand in the United States since 2006, growing that brand to rank first in market share among current yacht builders.
W. Brett McGill, Chief Executive Officer and President of MarineMax, Inc., stated:
The acquisition of Fraser is significant for MarineMax as it dramatically increases our presence and strength in the strategically important superyacht category. Second, it expands our international capabilities and footprint, unlocking other potential future opportunities.
Paolo Vitelli, Chief Executive Officer and Chairman of the Azimut/Benetti Group, added:
MarineMax has been a valued partner of the Group. MarineMax’s unrivaled success through many years makes it the best possible owner of Fraser for the future. Strategically, becoming independent from the Group will favour the development of the commercial relationship of Fraser around the world.
Meanwhile, The Fraser team will remain intact and continue to manage operations, with the company’s current directors Paolo Vitelli and Roberto Giorgi remaining with Fraser in an advisory capacity.
Fraser is consistently ranked as one of the leading superyacht brokerage and largest luxury yacht services companies in the world. It was founded in 1947, based in Monaco and operating through 20 offices around the world with over 160 team members. A stake in the brand was sold a to the Azimut-Benetti Group fifteen years ago.
MarineMax with headquarters in Clearwater, Florida, is conceived of as the largest recreational boat and yacht retailer in the USA. The company currently has 67 retail locations, also offering yacht management and crew placement services in multiple countries around the world.
It is worth mentioning, that in 1998 the dealer went public at $13,75 per share, trading today at twice the valuation after a strong recovery since the 2008 financial crisis, which saw its stock fall to under $2 per share in 2009. Today MarineMax is valued at over $600 million.
The acquisition is subject to the customary completion of certain legal requirements in Europe and is currently expected to be completed in stages over the next few weeks.
The Dutch company Van der Valk has developed a new line of crossovers Pilot.The new Pilot line will be available in a range of lengths, starting with a 23-meter model. The interior design was created by Cor D Rover. The design has a wheelhouse, freeing the front main deck. aft deck allows you to sunbathe and store tenders, jet skis and other toys.Owners can make a number of adaptations to the 23-meter model, including adding a gym at the stern and changing the size of tenders and toys on board. The cabin can also be extended aft to expand the space for communication.Floor-to-ceiling windows for distant ocean views will be installed inside the yacht in the living room, while the main deck also includes a galley and a full set of the main beam forward.The rest of the guest house is located on the lower deck, consisting of two double cabins with bathrooms and a VIP. At the same time, the crew room includes two double cabins and a separate crew area with a bathroom and a cabin, which is served by its own staircase.
February 21, 2020
After a growth period of 20-30 meters and megayachts, which is even closer to the recession, there was a short period for high demand for medium-sized superyachts.The market for 40-60 meter yachts, the last of which began to grow before the recession began, has also recently begun to gain momentum, as owners are looking for yachts in order to switch to them with growing disposable incomes. Indeed, if several years earlier it was expected that yachts in this range would be traded at 30-40% at the asking price, this gap narrowed to 25-30% in recent quarters.Shipyards, primarily known for their 20-30-meter yachts, are also expanding their ranges to 40-60 meters in order to keep customers who want to grow in size. For example, Sanlorenzo, which for decades focused on 20-30-meter yachts, put at the beginning of this year its newest flagship - the 64-meter Attila.Atilla is a 64.25m luxury yacht, built by Sanlorenzo and delivered in 2019. Her top speed is 18.0kn and her power comes from two 2375.0hp Caterpillar 3516-C diesel engines. She can accommodate up to 12 people with 18 crew members.Yacht was designed by Officina Italiana Design, and the interior design was created by Francesco Paszkowski.
February 21, 2020
A steel hull and an aluminum superstructure were attached to the integrated 55-meter Feadship superyacht, known as Project 704.The full displacement yacht was developed by RWD in conjunction with the Feadship De Voogt Naval Architects and the interior of the 499GT was written by FM - Architettura d'interni.The delivery of the yacht is expected in 2022.
February 21, 2020
The sixth superyacht Otam 80HT Attitude is nearing completion at an Italian shipyard.The 25.5-meter Attitude is the sixth building in the series and remains on track for delivery this April.The yacht designed by Umberto Tagliavini is 80% ready. Interior equipment is currently on schedule for a technical launch next month.Attitude offers a number of modifications to the original GA model, including the individual design of the front deck, which has a large solarium and a height-adjustable table to maximize the use of outdoor space.The cabin was also enlarged to accommodate a horseshoe-shaped sofa that can accommodate 10 guests. Another tanning bed is located on the transom, and modified protective gates lead down to the swimming platform.The tender bay garage under the aft sun deck has also been expanded to accommodate a 3.95 meter long Williams sports tender, capable of carrying six passengers.Attitude will feature four cabins with a common main cabin, the best VIP room, a guest cabin with two single beds and a fourth cabin for the owner's chef.Two 2600 hp engines MTUs combined with Arneson drives allow Attitude to reach a maximum speed of 47 knots and a cruising speed of 40 knots.
February 21, 2020
The Magnum 60 Furia was launched in 2001, designed by Magnum Marine and Ceo Catherine Theodoli. They say that this is the most successful of the Magnum models.Back in 2001, the 120-kilometer 60 Furia Magnum was named the fastest yacht of this size in the world and after extensive repairs at the Perini Navi Hammer shipyard reached higher speeds.Changes include new air intakes in the engine compartment along with a customizable display on the control panel.The new Magnum 60 concept is attractive to the original design, but much more pleasing to the eye, with distinctive details throughout the American style of the 50s. The owner’s room has individual storage solutions on either side of the room to ensure clean space.Marnix Hoekstra from Vripak says that they kept the overall layout and tuning of the boat, but improved it where it was possible, for example, expanding the companion from the saloon in the middle to the double and twin cabins. They also added daylight, and in the interior they used the same tree that was used in the construction of the boat, painting it in matt white.
February 20, 2020