MarineMax acquires superyacht firm Fraser from Azimut Benetti Group
MarineMax has acquired superyacht firm Fraser, which is offering the Alaska of Georgetown for sale.
MarineMax, one of the largest recreational boat and yacht retailers in the US, has acquired superyacht firm Fraser Yachts from boat builder Azimut Benetti Group with the aim of growing sales in North America and elsewhere.
Brett McGill, MarineMax CEO and president, confirmed that the acquisition, revealed on Wednesday (July 3), underlines the company’s commitment to superyachts. “The acquisition of Fraser is significant for MarineMax, as it dramatically increases our presence and strength in the strategically important superyacht category,” said McGill. “Second, it expands our international capabilities and footprint, unlocking other potential opportunities.”
Paolo Vitelli, CEO and chairman of Azimut Benetti Group and Roberto Giorgi, chairman of Fraser, are to remain in their existing roles. Fraser will continue to “operate in the future as it has historically”, added McGill.
Fraser CEO Ralph Sauleau said: “Our alliance with MarineMax enables us to further grow our footprint across North America. It also allows us to share with MarineMax clients an extended and in-depth range of 24m+ large yacht services, support and guidance including yacht management, charter management, crew placement and charter vacations.”
Based in Monaco, Fraser employs more than 150 people at 21 offices around the world; including locations in Fort
Lauderdale, US and Sydney, Australia. The company claims a global market share of more than 24% in terms of the value of yachts and nearly 20% of the yachts sold above 24m during the past five years. American yacht owners and charters are said to account for more than half of Fraser’s business.
“The synergies between MarineMax and Azimut Benetti Group have for a long time been very powerful and very real,” said Sauleau. “We very much look forward to the next chapter in Fraser’s growth with a company we know has built on solid relationships, efficient and transparent business ethics.”