BWA Yachting acquires SOS Yachting and hires new CEO
BWA Yachting has completed the acquisition of SOS Yachting. The superyacht financial service provider will be led by new CEO, Frédéric Dormeuil.
The new owners said SOS Yachting will remain autonomous and continue to further develop its services. The aim is for the firm to work “in tandem” with BWA Yachting.
SOS Yachting acts as a fiscal representative for yacht-owning companies, captains and stakeholders that charter within the EU for VAT purposes.
“’I am very pleased that we have acquired such a successful company,” said Paschalis Patsiokas, CEO, BWA Yachting. “[SOS Yachting acts to] simplify the fiscal representation process for their clients and they do so across different territories and that is exactly what we should all be working towards.”
The firm also offers operational guidance to ensure clients are tax-compliant and meet local standards while trading goods and services abroad.
With offices in Croatia, Spain, Italy and France, SOS Yachting claims to have more than 600 customers worldwide. It plans for further expansion this year, including the opening of its fifth office in Monaco.
SOS Yachting’s new CEO, Dormeuil said he looks forward to helping to “elevate” its position in current markets and expanding into new ones.
Image Credit: BWA Yachting