CVC to acquire D-Marin
CVC Fund VII to acquire D-Marin’s businesses in Greece, Croatia and the UAE. Marinas in Turkey will remain under the ownership of Dogus Group …
CVC Capital Partners (“CVC”) announces that CVC Fund VII has agreed to acquire the Greek, Croatian and the UAE businesses of D-Marin, a leading operator of premium yacht marinas in the Mediterranean and United Arab Emirates (UAE), from the Dogus Group, a leading Turkish conglomerate.
Headquartered in Istanbul, Turkey, D-Marin, under concessions or management agreements, is an international operator of premium yacht marinas in Croatia, Greece, Montenegro, Turkey and the UAE, with several new locations identified across its current geographical footprint and beyond. All marinas in Turkey (Turgutreis, Didim and Göcek) will remain under the ownership of Dogus Group while managed by D-Marin.
“As our first investment in the sector, we have been attracted to D-Marin given it is a geographically diversified operator of well-invested premium marinas in the Mediterranean and the UAE. Using CVC’s global network and experience in growing companies internationally, we intend to create the leading global premium marina operating company through both organic growth and acquisitions,” explains István Szoke,
While D-Marin’s facilities cater to all size categories of vessels above 7m in length, with much of its core market focussed on the 7-15m sector, D-Marin, according to its representatives, will be constantly looking for ways to improve and expand on its superyacht offering, both organically and through expanding into new locations.
“By increasing scale, keeping up with technological advances, and always putting the customer firsts,” D-marin intends to improve the premium market. “That market is currently quite fragmented and standalone marinas often lack the scale and capabilities to address customer need. D-Marin is looking to offer the highest quality service across a large network of marinas, with the scale and ability to efficiently serve its customers.”
“I am proud of the success achieved by D-Marin to date. Working with Dogus Group we have put in place a solid foundation, on which we will now plan to build a global group. We are delighted to have secured the support of CVC, a leading global investor, to expand D-Marin internationally and take the company to the next level,” comments Burak Baykan, CEO of D-Marin.
The transaction will be finalised upon fulfilment of the relevant governmental approvals.
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