Netherlands

Pardo Yachts

Fashion house Calzedonia Group has acquired Wise Equity Fund's stake in <a data-gid="gid://syiq/Company/7265" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cantiere Del Pardo (Company)">Cantiere del Pardo (CDP)</a>. This move comes after Wise Equity, as the management company for Wisequity V, had acquired 60 percent ownership of the company in December 2020. <img src="https://photo-assets.superyachttimes.com/photo/279890/image/large-6e8d1bebf1f229c7f3406d727ac050e5.jpg" data-gid="gid://syiq/Photo/279890">Founded in 1973, <a data-gid="gid://syiq/Company/7265" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cantiere Del Pardo (Company)">CDP</a> has experienced a history of great successes and international acclaim. Since its inception, it has launched over five thousand vessels under the <a data-gid="gid://syiq/Company/4700" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grand Soleil (Company)">Grand Soleil</a> brand and, more recently, under the <a data-gid="gid://syiq/Company/5808" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pardo Yachts (Company)">Pardo Yachts</a> and <a data-gid="gid://syiq/Company/5809" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="VanDutch (Company)">VanDutch</a> brands.<img src="https://photo-assets.superyachttimes.com/photo/279869/image/large-8c49fb1894e2101e93aade05169b1a8b.jpg" data-gid="gid://syiq/Photo/279869">According to an official statement, Calzedonia Group is expanding its scope into the realm of Italian excellence with this collaboration. The decision to proceed with the acquisition was driven by productive discussions with longstanding managers, Fabio Planamente and Gigi Servidati, who will continue to hold a minority stake in the company. Together, they share a vision for the future development of <a data-gid="gid://syiq/Company/7265" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cantiere Del Pardo (Company)">CDP</a>, and the opportunity to leverage their combined expertise in the industrial, organisational, and distribution sectors significantly influenced the decision to proceed.<img src="https://photo-assets.superyachttimes.com/photo/279889/image/large-286b760abffd85045d27e41df0c1f00c.jpg" data-gid="gid://syiq/Photo/279889">Fabio Planamente, CEO of <a data-gid="gid://syiq/Company/7265" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cantiere Del Pardo (Company)">Cantiere del Pardo</a>, remarked, "The acquisition by Calzedonia Group marks the beginning of a new chapter in <a data-gid="gid://syiq/Company/7265" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cantiere Del Pardo (Company)">Cantiere del Pardo's</a> long and illustrious history of achievements. We are deeply honoured that such an esteemed and prestigious Italian entity has chosen to invest in our shipyard. With the valuable contributions made by Wise Fund throughout the shipyard's growth journey, we are now more motivated and resolute in facing forthcoming challenges and new projects, benefiting from the solid foundation of an Italian Group with proven entrepreneurial capabilities, further establishing <a data-gid="gid://syiq/Company/7265" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cantiere Del Pardo (Company)">Cantiere del Pardo</a> and its brands as global yachting excellence under the Made in Italy banner."<img src="https://photo-assets.superyachttimes.com/photo/279891/image/large-22401f857254c9d187d5eaf378541e49.jpg" data-gid="gid://syiq/Photo/279891">With the arrival of Calzedonia Group, <a data-gid="gid://syiq/Company/7265" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cantiere Del Pardo (Company)">Cantiere del Pardo</a> will pursue international growth and the development of new models, with even greater attention to quality and excellence of service both for the distribution network as well as the end customer.

Fashion house Calzedonia acquires majority stake in Cantiere Del Pardo

Fashion house Calzedonia has acquired a majority stake in Cantiere del Pardo.

<a data-gid="gid://syiq/Company/5494" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Baxter Marine (Company)">Baxter Marine</a>, located in Puerto Portals Marina, Spain, has announced a rebrand under the umbrella of Mallorca Marine Group. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/250973/image/large-1064efe339207a815cf34200929334dd.jpeg" data-gid="gid://syiq/Photo/250973">The nameplates may have changed to Mallorca Marine Group, but the location will remain within Puerto Portals. The site has close to 30 years of experience, making it the longest-standing yacht sales, charter, maintenance and mooring sales and rental business within the marina. As part of the rebrand, Mallorca Marine Group has signed exclusive dealer rights for both Pearl Yachts and <a data-gid="gid://syiq/Company/5808" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pardo Yachts (Company)">Pardo Yachts</a>.&nbsp;Cenk Efe, Managing Director of Mallorca Marine Group, is steering the rebrand.&nbsp;

Baxter Marine rebrands Mallorca Marine Group

Baxter Marine, located in Puerto Portals Marina, Spain, has announced a rebrand under the umbrella of Mallorca Marine Group.  

Baxter Marine signs exclusive dealer rights as it rebrands Mallorca Marine Group

Dimitris Kyriazakos is Managing Director of Athens-based dealership and brokerage house <a data-gid="gid://syiq/Company/2510" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ekka Yachts (Company)">EKKA Yachts</a>. For many years the company was closely allied with <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti Yachts</a>, but recently started a new relationship with <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>, which has already resulted in multiple sales. <img src="https://photo-assets.superyachttimes.com/photo/210448/image/large-c573b14e62504eeb0be3538e5ea19500.jpg" data-gid="gid://syiq/Photo/210448"><a data-gid="gid://syiq/Company/2510" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ekka Yachts (Company)">EKKA Yachts</a>&nbsp;was set up by your father in the early 1980s. How did the relationship with&nbsp;<a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti Yachts</a>&nbsp;come about?&nbsp;My father was an enthusiastic owner with no professional links to the yachting industry, but he saw the potential because then the boats we had in Greece were mostly American brands like <a data-gid="gid://syiq/Company/5418" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bertram Yachts (Company)">Bertram</a> and <a data-gid="gid://syiq/Company/466" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Hatteras Yachts (Company)">Hatteras</a> with little or no local support. By coincidence he met the <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti</a> brothers, Alessandro and Norberto, and they agreed he could represent <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti</a> Craft, as it was known then, for a probationary period of six months in which he managed to sell five or six boats and he became <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti</a>’s first international dealer. Fast forward a few years to the post-financial crisis of 2008, the yachting industry was in trouble, especially <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti</a> that had huge debts. <a data-gid="gid://syiq/Company/2510" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ekka Yachts (Company)">Ekka Yachts</a> remained as a <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti</a> dealer, but after 2008 and the dramatic market shift we realised that we had to diversify into services such as brokerage, management and chartering. Greece was growing as a charter destination and we were seeing bigger yachts arriving on the market with more professional crews. <img src="https://photo-assets.superyachttimes.com/photo/210449/image/large-6eae22c0300a9f40ac523a42b52dced5.jpg" data-gid="gid://syiq/Photo/210449">What about your own background? How did you start in the family business?I was 28 years old in 2008 and had already been in the industry for five years, including two years in Florida working closely with <a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a>, who also had a relationship with <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti</a>. One of my father’s partners stepped down as general manager and I took over his role. I’d say that one of our strengths is that we’ve managed to keep a very good balance between the older generation of experienced senior partners who carry a large customer base and whose children are now buying boats, and the new generation of industry professionals who are learning a &nbsp;lot in the process. <img src="https://photo-assets.superyachttimes.com/photo/51075/image/large-b3f47b9534128ad5deff6c37a4831c26.jpg" data-gid="gid://syiq/Photo/51075">What drove the decision to leave&nbsp;<a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti</a>&nbsp;and team up with&nbsp;<a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>?Considering that the size of yachts in Greece is growing, we felt that <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> is investing more in yachts over 24 metres and has stronger brand recognition in that sector. This doesn’t mean that we have abandoned the smaller yachts, which is covered by the Bluegame models and by <a data-gid="gid://syiq/Company/5808" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pardo Yachts (Company)">Pardo Yachts</a>, who we also represent. The transition took about six months and it was not an easy decision, but we feel we now have better coverage in terms of range and we also feel more at home.<img src="https://photo-assets.superyachttimes.com/photo/64054/image/large-44b43241f7586e682f3084ddcf4eda01.jpg" data-gid="gid://syiq/Photo/64054">You call yourself a boutique brokerage house. What does that mean exactly? &nbsp;The difference between us and the big international brokerage houses is that we can offer a very local service. When a client decides to invest in a new yacht they really need local support. It’s not enough that the shipyard manages the warranty period from overseas for two years. We all know that boats break, no matter how well they’re looked after. I think clients increasingly appreciate this personalised approach. When it comes to second-hand yacht sales and chartering we believe that it is not about who has the most CA’s; it’s more about who has spent the time and effort to look at all the available boats and giving a very impartial opinion on what boat best suits the client’s needs.<img src="https://photo-assets.superyachttimes.com/photo/196658/image/large-5c0cde83adf5825b24b5c060c032b371.jpg" data-gid="gid://syiq/Photo/196658">You sold two big boats for&nbsp;<a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>&nbsp;within weeks of starting the relationship. How do you account for such rapid success?&nbsp;Mostly because of our enthusiasm. We’re very excited about this new relationship and that’s transmitted when we promote the <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> brand to our customers. We sold two Bluegames in the first six weeks. Then came the 500 Explorer for a long-standing customer – the biggest new boat we’ve sold to date – and then the 44Alloy. An important factor is that <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> has the production capacity and very attractive slots for designs that are either new or commercially successful. The 44Alloy for example is brand new design by <a data-gid="gid://syiq/Company/105" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Zuccon International Project (Company)">Zuccon</a> and we secured a slot for June 2022, which is unheard of in this industry. The 500EXP is not a new model, but is still quite a unique vessel. The luxury explorer segment is proving popular and <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> has been very good at responding to that market demand. Of course, new boat sales is a very cyclical business and we’re now experiencing a boom, but I wouldn’t be surprised if sales start to decline and the second-hand market becomes more active.&nbsp;<img src="https://photo-assets.superyachttimes.com/photo/196660/image/large-b1f96160fa914cbdce7cc43c8fb060d5.jpg" data-gid="gid://syiq/Photo/196660">Are we seeing a return to the golden age of Greek owners for big boats?When it comes to yacht-buying power, we need to bear in mind that Greece has the third highest number of owners for yachts over 40 metres after the U.S. and Russia. Also, the Greek shipping sector has been doing very well over the past year. A third factor is that because of the state of the Greek economy over the past 10 years, they have not been buying large yachts, so the existing fleet has now aged. We’re now seeing an uptick in activity from Greece-based owners.The global market, in general, has seen excess demand and lack of supply. Whoever has new-build slots today is doing well as the supply of second-hand boats is not high enough to meet demand. The Greek market has not fully recovered and vital elements that were important in the past are still not present today, such as readily available financing from banks. Berthing is also becoming a big issue, especially in metropolitan areas like Athens. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/196659/image/large-a647f96a9edcbc5c56cd10ff1b38be2d.jpg" data-gid="gid://syiq/Photo/196659">What about the charter segment in Greece?&nbsp;The Greek charter fleet is growing at an impressive rate, both in numbers and size of vessels. According to Bloomberg, Greece was among the top three favourite cruising grounds for large yachts in 2020 and 2021. At <a data-gid="gid://syiq/Company/2510" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ekka Yachts (Company)">EKKA Yachts</a> we’ve been adding two or three boats annually to our charter fleet. Of course, last year was virtually non-existent so a lot of the booked charters were carried over to this year, and then we had a huge wave of Covid-related requests from people who felt safer holidaying on a yacht. By mid-July we had no more boats to offer, which is not a bad situation to be in, but I think the situation will stabilise again in 2022.This article was originally published in&nbsp;<a href="https://sya.superyachttimes.com/news/superyacht-times-newspaper-issue-39" target="_blank">Issue 39 of SuperYacht Times newspaper</a>. To read more stories like this one and to never again miss another issue of the SuperYacht Times newspaper, <a href="https://shop.superyachttimes.com/report/the-superyacht-times-subscription" target="_blank">subscribe here</a>.

SYT in conversation with Dimitris Kyriazakos of EKKA Yachts

Justin Ratcliffe joins to Dimitris Kyriazakos of EKKA Yachts to discuss the golden for Greek yachting.