Telemar Yachting, the Viareggio-based Integrated Marine Electronics Specialists, has reached an agreement to buy Telemar Yachting's US agent, Al T Marine Electronics LLC and the establishment of a permanent US operation in South Florida. The transaction is subject to due diligence by Telemar and is scheduled for closing before 1 January 2010.
The new entity will operate under the brand name of "Telemar Yachting the Americas" and be based in Fort Lauderdale, Florida.
"We are very pleased in these challenging economic times to be able to keep moving forward with our own global strategic plan," said Telemar Yachting's General Manager, Andy Gifford, "It's even better that it could be with a company and, more importantly, with individuals we know so well."
The acquisition of Al T Electronics will come as Telemar Yachting continues expanding simultaneously into both the North American and Chinese superyacht markets from its European base.
Al T Marine Electronics was founded in 2007 by its Managing Member, Al Tarafa, and is now one of the most successful marine electronics service companies in South Florida, USA serving superyachts in the Americas and the Caribbean.
"It is a great opportunity for us to continue to grow and the synergies are tremendous," commented General Manager Kirsten Tarafa, "It's a natural fit, giving us international scope, not only in the yacht industry, but also commercial vessels; just as important though, in this economic climate, we're joining a solid team we know with solid corporate resources."
Telemar Yachting
Andy Gifford
+39 0584 426140
[email protected]
www.telemar-yachting.com