Peninsula Yachting acquires IYC

Photo credit: Monaco Yacht Show.

Brokerage and management group IYC has been majority acquired by Peninsula Yachting, a newly formed investment vehicle from Peninsula Capital.

The partnership will allow IYC to pursue “more ambitious” growth, to expand its fleet and brokerage services and spread its reach wider, in terms of new areas and client segments, says a statement.

IYC’s management will remain unchanged with shareholders remaining “fully committed” to the leadership team and strategic direction, it adds.

“This is a defining moment for IYC, not just a financial milestone, but a strategic one,” said Stefanos Makrymichalos, chairman of IYC. “Our new partners share our conviction that the best of IYC lies ahead of us. Together with our existing shareholders and with the talent across this organisation, we are stepping into the next and greatest chapter with renewed energy and enthusiasm.”

Michel Chryssicopoulos, global managing partner of IYC, added: “We have built something that takes decades to earn: trust from owners, clients, and partners across oceans. This investment is a vote of confidence in what IYC stands for and in the teams that deliver it every day. Our commitment to the people and standards that define IYC is absolute, and we intend to take both further.”

The International Yacht Company (IYC) is a global sales and charter brokerage and management company. It employs more than 200 people across 15 offices worldwide.

Peninsula is a private equity fund manager founded in 2015 and has invested more than €1.5bn through five investment vehicles, with total capital raised of €3bn.