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.”

Superyacht corporate strategy: LVMH to acquire Royal van Lent Feadship

2007 - 62m Feadship "Secret"

OFFICIAL Press Release - September 1st 2008

LVMH Moët Hennessy - Louis Vuitton, the world’s leading luxury products group, has signed an exclusive agreement with Egeria, an investment company based in the Netherlands, to acquire Royal van Lent, the Dutch designer and builder of luxury custom mega-yachts sold under the Feadship brand.

This acquisition will enable LVMH to enlarge its scope of activities and to expand its presence in products and services at the top of the luxury market. Royal van Lent’s yachts target an ultra-exclusive clientele and are built to the highest quality standards using specific know-how. Feadship’s attributes of creativity, craftsmanship, innovation, quality and exclusive positioning are shared by all the luxury businesses operated by LVMH.

Founded 160 years ago, Royal van Lent enjoys a leading market position. It designs and builds custom mega-yachts under the Feadship brand, one of the most exclusive and prestigious brands in the world for motor-yachts measuring over 50 meters.

The custom-built ultra-luxury mega-yacht sector offers strong global growth prospects. By targeting exclusively ultra-high net worth individuals, Royal van Lent offers an outstanding growth opportunity that is resistant to economic cycles. Since 2000, the worldwide order book for custom-built luxury yachts measuring over 50 meters has grown by more than 20% per annum.

LVMH will work closely with Royal van Lent's management team, and is committed to the continued, long-term development of the company and the Feadship brand. LVMH will leverage its very high end client network and global reach, both in developed and emerging countries, to accelerate the growth of Royal van Lent and the Feadship brand worldwide. The objective is to consolidate the company’s leadership while maintaining its unique heritage, exclusive positioning and exceptional craftsmanship. Dick van Lent will continue to head the company.

Antonio Belloni, Group Managing Director of LVMH, commented: “This acquisition is an outstanding opportunity for LVMH to welcome to the group as prestigious a business as Royal van Lent, which is well-established in the ultra-luxury market. We are confident about its growth potential in the exclusive mega-yacht sector, a market with sustainable growth prospects.”

Dick van Lent, Chief Executive Officer of Royal van Lent, added: “I am delighted that Royal van Lent will become part of the LVMH family, which has a proven track record in preserving the heritage of prestigious brands, with high quality products, while positioning them for successful global growth. We look forward to benefiting from the support and strategic leadership of the world’s leading luxury goods company. I am pleased to be involved in the continued development of Royal van Lent, a company with 160 years of history in yacht construction, as part of the LVMH family.”

The works council of Royal van Lent has been asked to render its advice in respect of the intended transaction and the relevant trade unions have been informed. The intended transaction will be subject to clearance of the relevant competition authorities.