Catalano Shipping Services has announced that it has acquired Monaco Yacht Partner, a leading yacht brokerage and charter company based in Monaco.
The acquisition will allow Catalano Shipping Services to expand its operations in the luxury yacht market and offer a wider range of services to clients. Monaco Yacht Partner brings a strong reputation and extensive network of industry connections to the table, making it a valuable addition to the Catalano Shipping Services portfolio of companies, Catalano said. The Group is now able to offer a global coverage operating with its offices in France, Monaco, Italy, New Zealand, Indonesia and relying on a an extensive network of partner in other countries.
Monaco Yacht Partner was founded in 2010 and has since become a leading player in the yacht brokerage and charter space in Monaco. The company has a team of experienced professionals who specialise in matching clients with the perfect yacht for their needs. In addition to brokerage and charter services, Monaco Yacht Partner also offers a range of other services, including maintenance, refitting, and management.
The yacht asset is reaching such sizes that it is encountering problems in the logistics management of all the material. Today, yachts have a huge need for land space to use as a warehouse and require continuous control of their available material in that space. The acquisition is expected to close in the coming weeks, and the combined company will operate under the name Catalano Shipping Services.
Tomaso Moreno, CEO of the Yachting department at Fratelli Cosulich Group, said: “We are pleased to have concluded this operation in Catalano Shipping Services, operating under the
brand AGents. This strategic move will strengthen the presence of our Group in the industry and bring new opportunities for growth and success. The acquisition of Monaco Yacht Partner marks the beginning of a new development: in 2023, we will work to merge the two companies in order to create a single entity with a turnover of approximately 4-4.5 million euros and 10-12 dedicated employees, covering all of Liguria and the southern part of France between Menton and Saint Tropez.
Also, as a supplier of spare parts and consumables for yachts, we will become the 3rd/4th largest group in Italy in this segment.
While the top players in this field are of great importance, we want to grow as a local identity by finding a niche market that we believe is currently needed. In addition, the affiliated company, Molo Vecchio Marine Supply, has a warehouse in Imperia that will be immediately used to create synergy between the two structures and envision a growth between 2023-2024 based on the maintenance of marine stores, a possible additional store in France under the same brand, and a logistics-focused development. This could be a business of interest to us in the near future.”
FILE PHOTO: Monaco Yacht Partners