YPI sold to Singapore investment group

Superyacht services provider YPI (Yachting Partners International) has been bought from the French commercial shipping brokerage house, BRS, by Mercantile & Maritime Investments (M&MI), the investment division of the Singapore-headquartered group, for an undisclosed price.

For the Mercantile & Maritime Group (MMG), the acquisition marks an entry into the international yachting market. MMG is an experienced investor and operator in the maritime sector. Operating principally across the oil and gas value chain, it has made significant investments in a range of other sectors in recent years, including luxury, commercial and residential real estate, technology, transport and distribution. The group, apart from its Singapore head office, has branches in London, Netherlands, Turkey, Russia, Cyprus and Iraq.

Commenting on the acquisition, Simon Murray, chairman at M&MI, said: “We are excited to welcome YPI into the group. With expertise in bespoke luxury and data-led intelligence and a client-first commitment, YPI is positioning itself at the forefront of next generation yachting.”

A YPI spokesperson commented: “This investment marks an exciting new chapter of growth for YPI. The Mercantile and Maritime Group has an extensive global network and a wealth of experience in the maritime sector and we look forward to developing the business together with them going forward.”

The global yacht industry is projected to reach US$74.7bn by 2022, driven by the rising interest in luxury yachting experiences among high net worth and ultra-high net worth individuals particularly in developing regions of Asia-Pacific and the Middle East. YPI is a boutique luxury yacht brokerage, offering personalised yacht sales, charter and management services to wealthy clients. It is one of the world’s oldest full-service yacht brokerages with 47 years of heritage and expertise in bespoke luxury.

Late last year a majority stake in YPI Crew, based in Antibes, was sold by BRS to the world’s third-largest commercial ship manager Berhard Schulte Group, a purchase that was arranged through its Singaporean affiliate, Schulte Maritime Services Pte Ltd. The sale of YPI sees it following in the wake of Camper & Nicholsons International in moving to Asian ownership.