Santocedrus Capital, the family office of the Saudi-based Sherbiny family, has completed the acquisition of Althaus Luxury Yachting, a Monaco-based superyacht brokerage company.
Founded by Mr Eric Althaus, an expert in the yachting industry with over 30 years of experience, Althaus Luxury Yachting provides exclusive high-end services and tailor-made solutions for any kind of yachting project, the company says.
“We are very pleased to join an exciting journey that Mr Althaus started more than 30 years ago. Our additional resources coupled with new experienced management and our strong presence in Middle East will help to build the bridge between the capital of yachting Monaco and Middle East, which is the next up-and-coming yachting destination”, said Mr Majed Sherbiny, the CEO of Santocedrus Capital.
Mr. Eric Althaus, the managing partner of Althaus Luxury Yachting adds: “I am very excited to have the new investors and business partners onboard and starting together a new chapter of Althaus Luxury Yachting. Throughout all my career at the center of it were always my clients who encourage and motivate me to push the boundaries and never stop progressing.
Having a significant presence in the Middle East will not only benefit the local clients, but also bring new opportunities and experiences to our clients outside the Middle East. I cannot wait to welcome you all very soon in our new office in Jeddah, Saudi Arabia”.
Mr Eric Althaus (pictured) will continue in his role as the managing partner and senior broker.