Azimut Benetti Group, one of the world’s principal producers of luxury motoryachts, has exercised its purchase option on Fraser, a global yachts’ service provider, increasing its share from 83% to 100%.
Fraser Group, known for providing consulting services for yachts and superyachts, directly manage 120 superyachts and their crew worldwide. The move will see Azimut Benetti Group take complete control of Fraser. According to Azimut Benetti Group, Fraser buys and sells over 50 superyachts a year, for a counter value of more than half a billion euro, and holds about 15% worldwide market share, making it the ‘market leader’.
Following the move by Azimut Benetti, new Fraser offices have been set up in New York and Hong Kong to go alongside Fraser’s offices in Munich, Fort Lauderdale, San Diego, Seattle, London, Palma, Bodrum, Doha, Dubai, Kuwait, Singapore and Sydney.
Mr. Paolo Vitelli, president of Azimut Benetti Group, commented: "This recent acquisition is part of the strategic plan of our Group – which has been leading the luxury yacht industry for 17 years – to offer the owners not only the most beautiful yachts, but also the utmost service. We are the only player in the yachting industry that takes care of the owner along the entire process, from yacht purchasing to management, refit and repair service, crew recruitment and chartering to resale.”
Benetti group has announced its next moves will be to strengthen its position in southern Europe, fostering the business of superyachts over 90m in length (of which three are currently under construction by the group one recently delivered), as well as the launch of the Oasis collection, a new lifestyle product. The group has also stated that technology is at the centre of their new designs, using innovative propulsion systems developed by Rolls Royce exclusively for Benetti.
Azimut Yachts’ expansion plan, on the other hand, focuses on an intense launch program of new products from its five collections (Grande, Flybridge, S, Magellano and Atlantis), with sizable investments in research and development allowing the further use of carbon fibre and the involvement of renowned interior designers for its new builds.
Azimut Benetti specified that Fraser will continue to offer the same services, stating in a press release: “Fraser will be another asset to offer owners all around the world the utmost service for yacht managing, chartering or reselling their yachts.”
For more information, visit Azimut Benetti Group.