MarineMax acquires Monaco-based yacht services provider for undisclosed sum
US boat retailer MarineMax today announced that it has acquired Fraser Yachts from Italy’s Azimut-Benetti Group. The value of the transaction was undisclosed.
Fraser, founded in 1947, is a world leader in yacht brokerage, yacht charter, yacht management, crew placement and new-build consultation. The company is based in Monaco, with 20 offices and over 160 staff worldwide.
The entire Fraser team will remain in place and continue to manage activities, says MarineMax in a statement. Additionally, current directors Paolo Vitelli and Roberto Giorgi will remain with Fraser in an advisory capacity.
“We are very excited about adding Fraser, and its team, to the MarineMax family. The acquisition of Fraser is significant for MarineMax as it dramatically increases our presence and strength in the strategically important superyacht category,” says Brett McGill, MarineMax president and CEO.
“We are also very excited to add the Benetti Class of yachts to our luxury motoryacht offering. The history and product of Benetti separates the brand from other yachts and will present larger and more luxurious options to many of our customers, who are looking for that next step.”
The Azimut-Benetti Group is annually ranked in ShowBoats International’s Global Order Book as the largest motoryacht builder in the world. MarineMax has represented the Azimut brand in the US since 2006.
Paolo Vitelli, Azimut-Benetti Group CEO and chairman, says that MarineMax’s “unrivaled success” throughout the years has made 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,” he explains.
According to Fraser CEO Raphael Sauleau, Fraser Yachts has outperformed the market over the last five years, “closing more transactions for clients than any other provider and beating Fraser’s own 10-year records along the way,” he says.
“This alliance will enable us to further grow our footprint across North America and share with our clients an extended range, and depth, of 24m (79ft)-plus yacht services, support and guidance including yacht management, charter management, crew placement and charter vacations,” adds Chuck Cashman, chief revenue officer of MarineMax.