Azimut | Benetti fully acquires Fraser

alexbaldwin
By alexbaldwin October 2, 2017 12:43

Azimut | Benetti fully acquires Fraser

Azimut | Benetti has fully acquired Fraser, buying up a minority stake from the company’s only other remaining shareholder, ship management firm V.Ships.

The collaborative megayacht firm’s stake sat at 83% before the acquisition. It bought up the remaining share capital to tap into Fraser’s considerable global reach to help expand its management operations.

Paolo Vitelli, president at Azimut | Benetti Group, said: “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.”

In the statement, Azimut | Benetti claims Fraser holds a 15% market share and sells more than 50 super yachts a year – making it the largest international yacht management firm. Fully acquiring Fraser gives it a large management arm to support its 120 managed superyachts.

Group Expansion

Both Azimut and Benetti are looking to expand in different markets. Azimut is focusing on launching five new products from its Grande, Flybridge, S and Magellano e Atlantis collections. Benetti is strengthening its 90m+ “gigayacht” presence in southern Europe. The yard has three gigayachts under construction and delivered one last year – the 90m Benetti Lionheart.

With the full acquisition of Fraser, the group is now able to expand its managing, chartering or reselling services to an international customer base and support its upcoming vessels.

alexbaldwin
By alexbaldwin October 2, 2017 12:43

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