Superyacht builder Palmer Johnson announced it has signed a letter of intent to acquire two companies: Richman Marine, a worldwide yacht chandlery company, and Global Yacht Fuel, an international fuel bunkering company.
Both companies are based in Ft Lauderdale, Florida. Terms of the deal were not disclosed.
"With these acquisitions, we can dramatically expand the size and scope of our Palmer Johnson On Call yacht chandlery and logistical support unit," said Phil Friedman, president and CEO of Palmer Johnson. "This is a vital component of Palmer Johnson's one-stop Total Yachting Solution business strategy." With these latest acquisitions, Palmer Johnson will become one of the most comprehensive, far-reaching yacht service and support operations in the world. Richman Marine, founded in 1992, is a yacht support company with a primary focus on supplying world-travelling yachts with parts, equipment, supplies and information.
Global Yacht Fuel, founded in 1990, provides operational support to primarily superyachts around the world by arranging for duty-free fuel and lubricants. It also provides logistical support, and planning services.
Palmer Johnson has been busy lately with acquisitions and expansions, including a refit yard in Jacksonville, Florida, and expanding its brokerage offices in Ft Lauderdale.