MarineMax, the USA’s largest recreational boat and yacht retailer, has entered into an agreement for the acquisition of Fraser from Italy’s Azimut-Benetti Group.
Specialising in yachts above 24m in length, Fraser is a world leader in brokerage, sales and purchase, yacht management, charter management and charter retail. Headquartered in Monaco, it has 20 offices in 18 countries and over 160 staff
Raphael Sauleau, CEO of Fraser, said: “Together with the Azimut-Benetti Group family, Fraser has enjoyed a market share of over 24 per cent in terms of the value of yachts sold and almost 20 per cent worldwide share in terms of the number of yachts sold above 24m over the last five years. Today, our brokers are outperforming the market, closing more transactions for clients than any other provider and beating Fraser’s own 10-year records along the way.
“The synergies between MarineMax and Azimut-Benetti Group have for a long time been very powerful and very real. We very much look forward to the next chapter in Fraser’s growth with a company we know has been built on solid relationships, efficient and transparent business ethics.
“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-plus large yacht services, support and guidance including yacht management, charter management, crew placement and charter vacations.”
Headquartered in Clearwater, Florida, MarineMax is the USA’s largest recreational boat and yacht retailer and currently has 67 retail locations. Its brands include Azimut, Benetti, Sea Ray, Boston Whaler, Hatteras, Ocean Alexander, Galeon, Grady-White, Aquila and Nautique.
Brett McGill, CEO and President of MarineMax, said: “The acquisition of Fraser is significant for MarineMax as it dramatically increases our presence and strength in the strategically important superyacht category. Second, it expands our international capabilities and footprint, unlocking other potential future opportunities.
“We are very excited about adding Fraser and its team to MarineMax. Fraser is clearly the leader in the services it offers and we intend that it will operate in the future as it has historically.”
Paolo Vitelli, CEO and Chairman of Azimut-Benetti Group, and Roberto Giorgi, Chairman of Fraser, will remain with Fraser in an advisory capacity.
Vitelli said: “MarineMax’s unrivalled success through many years makes it the best possible owner of Fraser for the future. Strategically, becoming independent from the Group will favour the development of the commercial relationship of Fraser around the world.”