Who said that the superyacht market was facing a storm ?
Following the recent sale of the 50m Christensen "Casino Royal" by OCI, Yachting Partners International announces the sale of M/Y "Silver", the 74m (243ft) Espen Oeino-designed superyacht built by Hanseatic Marine in Australia.
According to IBINews, "The brokerage deal, believed to be the largest the yachting industry has seen since September 2008, was pulled together in record time and with minimum fuss, contradicting rumours of falling sales in luxury goods and of large yacht builders filing for creditor protection".
Powered by two 16V-4000 MTU engines, M/Y "Silver" effortlessly tops 25:27 knots and achieves transatlantic distances at 18 knots...
The vessel is classified by Lloyds and built to SOLAS passenger ship specifications, so instead of being limited to 12 guests, she has accommodation for 18, including Pullman berths. The superyacht was for sale at euros 64,500,000.BRS Yachting, a subsidiary of the BRS Group, a large international ship broker company, acquired Yachting Partners International in September 2008.
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.”
