Northrop & Johnson acquire SYM
Northrop & Johnson now claim to be able to cover every aspect of superyacht ownership…
Northrop & Johnson, the luxury superyacht brokerage house, has acquired the Mediterranean based Superyacht Management Company - SYM. Providing a range of services focused on the operational and management side of owning a superyacht, SYM expands Northrop & Johnson’s growing portfolio of superyacht services, the company now claims that they have been transformed into a full-service brokerage house covering every aspect of superyacht ownership.
The acquisition comes at the very start of Q2 - historically the most active period of the year for sales in the superyacht brokerage sector. On average May has been the busiest month for sales in the industry as a whole in the 30m plus bracket. The acquisition will bolster the company's profile in the Mediterranean just before the season kicks off. Northrop & Johnson also has offices in Barcelona, Palma, Turkey, Monaco, Antibes and Naples.
“At Northrop & Johnson, we believe that our continued growth and success are primarily due to the unwavering dedication to providing our clients with the premier yachting experience in every category. With the acquisition of SYM, the growth of Northrop & Johnson’s available services will drive even greater client satisfaction,” states Northrop & Johnson’s President and COO, Daniel Ziriakus, “We only acquire businesses that share the same client-dedicated mission, and SYM is no exception to this. From the moment we met the team, we could see it was a fantastic and completely complementary fit.”
Northrop and Johnson have sold 306 yachts in the last 36 months. In the same time period, they have completed 1583 weeks worth of superyacht charters (364 months).
“Throughout the past 27 years, we have run a very successful client-focused business with more than 30 superyachts and growing our management fleet,” says SYM Founder & Managing Director Ben Young. “I have never really thought about selling, but when Northrop & Johnson approached us, the client focus synergies and business growth opportunities were a great match for our clients and the overall industry.”
For the superyacht industry, a significant pool of clients has (for now) been removed from the market. This ongoing crisis makes it difficult to predict how the market will perform over the next couple of months. However, it appears Northrop & Johnson are making big investments and preparations for a future market that will be ‘unprecedented’ to say the very least.
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