Insight: BWA Yachting's expansion into Greece

Written by Parisa Hashempour

In a face-to-screen discussion with Paschalis Patsiokas, CEO of BWA Yachting, SuperYacht Times was struck by how his enthusiasm for yachting transcended the limits of the virtual call. “I grew up 20 metres from the sea, so boating is in my blood,” he proudly explains. When it comes to the company he spearheads, the excitement is palpable. Specifically, in regard to one recent development — BWA Yachting’s acquisition of A1 Group’s yacht agency technical and provisioning networks and thus, their expansion into Patsiokas’ home country of Greece. Although flirting with the idea for some time, it wasn’t until the last quarter of 2020 that the plan came to fruition.BWA Yachting company photoPhoto: BWA Yachting“A1 Group has been increasingly involved in yachting infrastructure projects in Greece. One of them is the new shipyard in Rhodes, and there are more to come. They want to direct more focus on those ventures, which was the perfect opportunity for us to form a deal where the A1 Group agency provisioning and technical departments could integrate into BWA Yachting,” he reveals. For Patsiokas, the move is close to the heart for more reasons than one: “I actually started my career in yachting at A1 Group.” BWA Yachting article contentFor BWA Yachting, the move means substantial growth. A1 will remain shareholders, but each business owned by BWA Yachting will be run independently. The acquisition aims to improve services and make yachting more logical, ensuring a smoother transition of yachts from country-to-country. 

As to the practicalities: “Service level continuity will be higher. We are in more places than anyone else and adding Greece means we can reach clients in even more popular destinations.” The goal is to make yachting in the region easier for the end-user. Sharing yacht particulars is done only once and then a yacht file is shared, meaning clients don’t have to resend information in every port of call. Billing requirements are also shared just once and the company can issue invoices or statements configured in the way the client prefers. “In fact, we now go a step further,” Patsiokas smiles. “One of the new modules integrated in the system provides customers with the possibility to get each invoice in a format compatible with their accounting system, minimizing manual processing of information. Once the client’s chart of accounts is uploaded in a specific transcode table integrated in the system, the client will start getting invoices and statements from BWA Yachting both in the usual PDF or Excel formats specifically designed to be imported in the accounting system of the customer.” Paschalis PatsiokasSo what’s next for BWA Yachting? “Unfortunately nothing I can share publicly,” Patsiokas says. “In general though, we are still determined to continue our geographical expansion and bring yet more innovation and scale to what we do!”

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This article was originally published in the Summer 2021 issue of The SuperYacht Times newspaper. To receive all future issues straight to your door, subscribe to the newspaper here.



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