Azimut-Benetti acquires complete ownership of Fraser

Azimut-Benetti Group acquires FraserAzimut-Benetti Group has recently announced that it has completed its acquisition of Fraser, after increasing its share from 83% to 100%.

Azimut-Benetti Group has thus become Fraser’s only shareholder, but the group had already an overwhelming majority in the yacht brokerage firm since 2004 when it acquired the company with backing from minority partner, V.Ships. Part of V.Group, V.Ships changed hands in December 2016 when private equity firm, Advent International, acquired a majority stake in its parent company.

Paolo Vitelli, President of the Azimut-Benetti Group, commented: “This recent acquisition is part of the strategic plan of our group to offer superyacht 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.”

As well as buying and selling more than 50 superyachts per year, Fraser is the world’s largest provider of yacht consultancy services. Its portfolio includes the 56 metre Benetti yacht Ulysses and more than 100 others.

According to Azimut-Benetti, Fraser holds a 15% market share, making it the market leader in its sector, and hinted at further expansion after recent office openings in New York and Hong Kong.

The Italian group is a world-renowned leader in the superyacht sector, regularly on top of the Global Order Book in terms of total length overall of yachts under construction.

Some remarkable projects currently in development at the Italian yard include its new flagship, the 107-metre Benetti FB277 — which is expected to be completed by 2019— and the 70-metre Project 169, scheduled for launch next year.

 

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