Azimut|Benetti Group, the world’s biggest producer of luxury motoryachts, exercises its purchase option on Fraser, global leading yachts’ service provider, increasing its share from 83% to 100%.
Azimut|Benetti Group has acquired the remaining share capital from V.Ships, a minority shareholder of Fraser for many years, thus leading the Group’s stake in Fraser from 83% to 100% of the share capital.
This acquisition is a key step in the Azimut|Benetti Group’s development and expansion strategy. Fraser Group is the world’s largest provider of consulting services for yacht and superyacht ranging from Sales, Charter Retail, Charter Management, Yacht Management to Crew Placement.
Fraser buys and sells over 50 super yachts a year, for a counter value of more than half a billion euro, and holds about 15% worldwide market share, which makes it the market leader. The Group manages directly 120 superyachts, some of them considerably large, with dozens of crew members. It operates around the world with direct offices in Munich, Fort Lauderdale, San Diego, Seattle, London, Palma, Bodrum, Doha, Dubai, Kuwait, Singapore and Sydney. In this context, Azimut|Benetti’s operation will allow Fraser to continue the growth trend that has been going on for years and has led the company to a leading position in the industry. To this end, new offices have already been set up in New York and Hong Kong.
Mr. Paolo Vitelli, Azimut|Benetti Group President, has commented: “This recent acquisition is part of the strategic plan of our Group – which has been leading the luxury yacht industry for 17 years – to offer the owners not only the most beautiful yachts, but also the utmost service. We are the only player in the yachting industry that takes care of the owner along the entire process, from yacht purchasing to management, refit and repair service, crew recruitment and chartering to resale.”
With regards to Benetti, the Group’s brand specialising in mega and superyacht construction, the strategy will focus on the following: strengthening its leadership in South Europe; fostering the business of megayachts over 90 meters – the so called Gigayachts (3 are currently under construction, one has already been delivered) as well as the launch of the Oasis collection, a new lifestyle product complementing the more traditional shuttles. Technology is key: the new frontier are the innovative propulsion systems developed by Rolls Royce exclusively for Benetti.
Azimut Yachts’ expansion plan, on the other hand, focuses on an intense launch program of new products from the five collections (Grande, Flybridge, S, Magellano e Atlantis), thanks to significant investments in research and development, the progressive use of carbon fiber and the involvement of the world’s most renowned interior designers.
In this overall framework, Fraser will be another asset to offer owners all around the world the utmost service for yacht managing, chartering or reselling their yachts.