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Sunday, September 7, 2008

Superyacht corporate strategy: BRS to acquire YPI

YPI website homepage

Following the merge between Ocean Independence and Cavendish White, a new giant is born in the brokerage business: BRS Group announces major expansion in the premier yacht brokerage market with the acquisition of Yachting Partners International (YPI).

Will this new market consolidation benefit the owners/buyers?

OFFICIAL Press Release

BRS Yachting (a subsidiary of the BRS Group) is delighted to announce its first major expansion with the acquisition of the premier yacht brokerage company Yachting Partners International (YPI).

This deal confirms the intention of the BRS Group and of Bertrand Vogèle, Managing Director and shareholder of BRS Yachting, to create a leading business in the luxury yacht service sector. BRS Group and YPI are strongly complementary in terms of geography and high standards of service. BRS will bring increased investment capacity to the business along with the financial, technical and legal support it has acquired over 150 years serving the maritime industry. YPI will be bringing its expertise in large yacht brokerage, operating with yachts over 30 meters long in a price range of up to € 150m.

Due to a greater demand for large yachts in the last few years, yacht brokerage requires larger investments and additional expertise that the combined know-how of BRS and YPI will bring. Trends show an increasing demand for yachts above 40 meters with order books full until 2012.

YPI, a leader in the brokerage market, was founded in 1972 by Alexander Braden and today operates out of offices in Antibes, Monaco and Brighton. The company offers the full range of broking services including new-building, chartering, sale and purchase, yacht management and crew recruitment. YPI has served a range of prestigious clients including Henry Ford II and the MacMillan family of Cargill.

The current management team of YPI will remain in place and will be managing the company together with Bertrand Vogèle, under the supervision of a new board. The combined group will henceforth trade under the name Yachting Partners International (member of BRS Group).
Jean-Bernard Raoust, Chairman of BRS commented:
We are firmly convinced that this acquisition is a great opportunity to develop our new targeted offer in the large yacht brokerage market. Alexander Braden and his team have built a company with a worldwide reputation in the yacht business through its long term relationships with clients and highly personalised service.

Alexander Braden, Chairman of YPI Group commented: We are delighted to join the BRS group, a highly regarded leader in the shipbroking sector. The support and expertise of the group’s worldwide network, and its longstanding experience in the maritime sector, will considerably enhance the services YPI offers and we look forward to developing the business going forward. We are all in this for the long term.

Bertrand Vogèle, Managing Director of BRS Yachting commented: When creating the yacht brokerage activity at BRS, we anticipated the rapid growth in the high-end segment. With a solid business such as YPI, this project takes on a new and stronger dimension, especially since BRS Group and YPI share the same values and standards of service excellence.

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