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Azimut-Benetti becomes sole owner of Fraser

The Italian brand exercises its purchase option to buy out V.Ships…

As part of its development and expansion strategy, Azimut-Benetti has assumed full control of Fraser Yachts by increasing its share capital in the brokerage house from 83 to 100 per cent. Fraser buys and sells over 50 superyachts a year, for a counter value of more than half a billion euro. With offices in 14 cities around the world, the Group manages directly 120 superyachts and holds about 15 per cent of the global market share.

“As the majority stakeholder, Azimut-Benetti had the option to purchase outright Fraser, and this has been exercised as a means to expand its presence around the world through our brokerage and management services,” says Roberto Giorgi, Fraser Executive Chairman (pictured, image 1), who was appointed Executive Chairman of Fraser Yachts in 2014 after spending more than 30 years with V.Ships, the world’s largest ship management group. “It’s a move that’s been on the cards since V.Ships was sold in 2016 to the private equity firm Advent International.”

The acquisition, for an undisclosed sum, is a key component of Azimut-Benetti’s long-term business plan as it works to strengthen its leadership position, focus on the market for megayachts over 90m, and launch its new Oasis collection of explorer yachts that have yet to be revealed.

“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,” commented Paolo Vitelli, Chairman of Azimut-Benetti (pictured, image 2).  

“In the last few months we’ve seen a revival of the market, both in terms of new sales and charter, and we’re back to the sort of levels we saw in 2007,” adds Giorgi. “This growth trend means we’ve been able to put funds aside with a view to opening new offices in New York and Hong Kong, and we’re also looking at an office in Moscow. Whether this trend will continue, will depend to some extent on the political and economic situation around the world.”

 

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Fraser

Azimut SpA

Benetti

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Azimut-Benetti becomes sole owner of Fraser

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