The<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">&nbsp;Italian Sea Group (TISG)</a> has announced that they have finalised the acquisition of the fine furniture company <a data-gid="gid://syiq/Company/7113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Celi S.r.l (Company)">Celi S.r.l</a>. The global luxury operator, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a>, now owns 100 percent of the shares of Celi.<img src="https://photo-assets.superyachttimes.com/photo/190633/image/large-7468869e75590740becc83b9377c52b9.jpg" data-gid="gid://syiq/Photo/190633">The integration of <a data-gid="gid://syiq/Company/7113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Celi S.r.l (Company)">Celi</a> into <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a>’s portfolio is consistent with the Company’s strategy plan and will help to internalise the activities of the production chain. <a data-gid="gid://syiq/Company/7113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Celi S.r.l (Company)">Celi</a>’s valuable carpentry experience and production capacity will also allow <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> to provide further growth opportunities for both companies.<img src="https://photo-assets.superyachttimes.com/photo/265932/image/large-01b08e3d1324671c97486224c5953a4d.jpg" data-gid="gid://syiq/Photo/265932">“<a data-gid="gid://syiq/Company/7113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Celi S.r.l (Company)">Celi</a> is undeniably one of the most important companies for custom furniture in Italy and around the world, and its transversal competencies are a great strategic opportunity for <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a>,” explained Giovanni Costantino, Founder and CEO of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>.Read:&nbsp;<a data-gid="gid://syiq/Article/56369" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group reports revenues up 65% and a backlog nearing €1B (2022-11-11 16:00:00 +0100)">The Italian Sea Group reports revenues up 65% and a backlog nearing €1B<img src="https://photo-assets.superyachttimes.com/photo/112639/image/large-71dd2b977d22350f5c9d5439c079055c.jpg" data-gid="gid://syiq/Photo/112639"></a>The strategy enables <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> to increase its control over the timing and quality of production, as well as over the management of costs and budgets, in support of the Group's profitability. The acquisition represents the first step of the new “<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> NEW ERA” expansion project, which also includes a further expansion of the offices in the Marina di Carrara Headquarters.This expansion will include an expansion of about 2,000 square-metres, with the ultimate goal of creating a cohesive <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> experience for shipowners. <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> plans to make investments aimed at doubling <a data-gid="gid://syiq/Company/7113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Celi S.r.l (Company)">Celi</a>’s production capacity as early as 2024 in anticipation of significant business growth opportunities.<img src="https://photo-assets.superyachttimes.com/photo/214664/image/large-c368ca34691a26e708bc548b7a2b2e2e.jpg" data-gid="gid://syiq/Photo/214664">“<a data-gid="gid://syiq/Company/7113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Celi S.r.l (Company)">Celi</a>’s production organisation, combined with our international commercial skills and knowledge, will offer new opportunities for solid and secure growth for the Group, also in the field of high-end real-estate and luxury hôtellerie worldwide, from Miami to Dubai,” concluded Giovanni Costantino.

TISG acquires furniture company Celi

The Italian Sea Group company photo

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The Italian Sea Group new building shed opening ceremony

The Italian Sea Group Shipyard

Celi Interiors

The Italian Sea Group (TISG) has announced that they have finalised the acquisition of the fine furniture company Celi S.r.l.

Netherlands-based marine electrical companies <a data-gid="gid://syiq/Company/317" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alewijnse (Company)">Alewijnse</a> and <a data-gid="gid://syiq/Company/7180" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tijssen Elektro (Company)">Tijssen Elektro</a> have joined forces to provide further services to the maritime community. From 1 June 2023, <a data-gid="gid://syiq/Company/7180" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tijssen Elektro (Company)">Tijssen</a> will officially fall under the umbrella of the <a data-gid="gid://syiq/Company/317" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alewijnse (Company)">Alewijnse</a> Group. <img src="https://photo-assets.superyachttimes.com/photo/272578/image/large-9ac400099a30d4992090ad355ee17e18.jpg" data-gid="gid://syiq/Photo/272578">The merger will bring the two companies together for the delivery of advanced electrical system integration systems for all types of yachts above 30-metres. The shared vision between <a data-gid="gid://syiq/Company/317" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alewijnse (Company)">Alewijnse</a> and <a data-gid="gid://syiq/Company/7180" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tijssen Elektro (Company)">Tijssen Elektro</a> allows the companies to expand on their portfolios while meeting the needs of those within the industry.&nbsp;"Our two families are uniting to deliver the best solutions for the yachting industry,” explained Gert Bravenboer, CEO at <a data-gid="gid://syiq/Company/317" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alewijnse (Company)">Alewijnse</a>. “Fully complementary to each other, we are uniquely positioned to create value for existing and new customers. Together, we will be the go-to technology partner on all aspects of automation, electrification and digitalisation. From consulting, engineering and installation to commissioning, service and maintenance, it's a perfect fit."<img src="https://photo-assets.superyachttimes.com/photo/272577/image/large-150d4282ba9b14d3509de682379e56c2.jpg" data-gid="gid://syiq/Photo/272577">The merger will represent a new chapter in history for both <a data-gid="gid://syiq/Company/317" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alewijnse (Company)">Alewijnse</a> and <a data-gid="gid://syiq/Company/7180" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tijssen Elektro (Company)">Tijssen Elektro</a>. This will benefit not only both companies, but also the employees, customers and shareholders. This will allow them to provide even more innovative solutions and expand the complexity of their projects.“<a data-gid="gid://syiq/Company/317" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alewijnse (Company)">Alewijnse</a> is the best choice because the chemistry between the companies means we speak the same language and complement each other. The synergy is great because we stop where Alewijnse starts. Our combined portfolio will broaden all at once to cover yachts from 30 right up to 130 metres. Together, we form a one-stop-shop for every kind of yacht. That way we can completely unburden our customers," added Pedro Kappen, owner of <a data-gid="gid://syiq/Company/7180" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tijssen Elektro (Company)">Tijssen Elektro</a>.<img src="https://photo-assets.superyachttimes.com/photo/272579/image/large-1444065a001052c048600aeb12470fcf.jpg" data-gid="gid://syiq/Photo/272579">

Electrical services companies Alewijnse and Tijssen Elektro merge

Alewijnse and Tijssen Elektro have joined forces to provide further services to the maritime community.

Alewijnse and Tijssen Elektro merge to strengthen yacht electrical services

<a data-gid="gid://syiq/Company/4064" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Inmarsat plc (Company)">Inmarsat</a> has been acquired by the global communications company Viasat. The combined company enhances the scale and scope to continue to drive growth in the increasingly dynamic and competitive satellite communications industry. The employees of <a data-gid="gid://syiq/Company/4064" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Inmarsat plc (Company)">Inmarsat</a> will retain their roles under the new ownership, and Rajeex Suri and Andy Sukawaty, CEO and Chairman, will join the Viasat Board of Directors.<img src="https://photo-assets.superyachttimes.com/photo/251466/image/large-5d9ca2aceec40452a7ab1bf77d737e3a.jpg" data-gid="gid://syiq/Photo/251466">The company’s assets, once fully integrated, are expected to increase the pace and scope of innovation in the global satellite connectivity sector, offering new and improved capabilities to customers that will address the ever-increasing speed, flexibility, reliability, coverage and security they demand.“We are thrilled to welcome <a data-gid="gid://syiq/Company/4064" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Inmarsat plc (Company)">Inmarsat</a>’s employees, customers, shareholders and partners into the Viasat ecosystem,” said Mark Dankberg, Chairman and CEO, Viasat. “The combination of our companies brings together the people, technology, innovation, network assets, spectrum resources and global partnerships needed to help connect the world more affordably, securely and reliably. Together, we believe we are positioned to offer customers a multi-layered network that gives them the right connectivity at the right time, place and price.<img src="https://photo-assets.superyachttimes.com/photo/251465/image/large-65250364f6dfbf29802d99a42e82cf83.jpg" data-gid="gid://syiq/Photo/251465">“Thanks to all those who worked so tirelessly and thoroughly to complete this transaction,” said Dankberg. “I’d also like to thank the Viasat team and the leadership team at Inmarsat, especially the contributions of Rajeev Suri, Inmarsat CEO, and Andy Sukawaty, <a data-gid="gid://syiq/Company/4064" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Inmarsat plc (Company)">Inmarsat</a> Chairman. Rajeev and Andy will be joining the Viasat Board of Directors as representatives of the prior <a data-gid="gid://syiq/Company/4064" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Inmarsat plc (Company)">Inmarsat</a> private equity ownership consortium. I look forward to their continued contributions to the company.”The combined company will continue to be led by Mark Dankberg as Chairman and CEO and Guru Gowrappan as President. Viasat also reconfirmed that its new global international business headquarters will be in London. Corporate headquarters will continue to be in Carlsbad, California. Further decisions regarding organizational structure and leadership will be determined as part of the ongoing integration process.“Our goal is to be the undisputed leader in satellite communications with a sharp focus on providing the best products and services for our customers,” said Gowrappan. “We are more than the sum of our parts. This combination broadens the global fixed and mobile services available to customers in an industry-defining moment. We intend to move quickly to bring the best from each company together in a way that creates much deeper value for our stakeholders and ensures we deliver on our synergy commitments.”<img src="https://photo-assets.superyachttimes.com/photo/195034/image/large-e11ca4b857f5c9a2b385bfc4f99ce95d.jpg" data-gid="gid://syiq/Photo/195034">“Satellite communications is a hugely significant and strategic global market for the U.K. space sector, now poised for an exciting next phase,” said George Freeman MP, the U.K.’s Minister of State at the Department of Science, Innovation &amp; Technology. “The combination of Viasat and Inmarsat creates a global leader in satellite communications here in the U.K. It brings significant investment, hundreds of new highly skilled jobs and will serve as a catalyst for substantial economic growth. Having met both companies, I look forward to working with them as we use the U.K.’s regulatory freedom and leadership to support advanced technologies to boost the space economy’s productivity, profitability and sustainability.”Under the terms of the purchase agreement, at the closing of the transaction, Inmarsat’s shareholders received an aggregate of $551 million in cash, subject to adjustments, and approximately $46.36 million shares of common stock. The cash portion of the purchase price was reduced from $850 million to $551 million after Inmarsat paid a $299 million special dividend to its shareholders in April 2022. The shares issued to the <a data-gid="gid://syiq/Company/4064" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Inmarsat plc (Company)">Inmarsat</a> shareholders at the closing represent an aggregate of approximately 37.6 percent of the total shares of Viasat common stock on a fully diluted basis, with no Inmarsat shareholder receiving shares representing 10% or more. In connection with closing of the acquisition on May 30, 2023, Viasat drew down on approximately $1.35 billion of its committed financing package, including a $617 million secured term loan facility and a $733 million unsecured bridge loan. The lower financed amount reflects in part the reduction in the cash component of the purchase price.

Inmarsat acquired by Viasat

Inmarsat has been acquired by global communications company Viasat.

Inmarsat acquired by global communications company Viasat

The French electrical and electromechanical services company <a data-gid="gid://syiq/Company/7171" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yachtelec (Company)">Yachtelec</a> has been acquired by the ship repair and maintenance group AMARIX, the owner of MACOR and ETI Services companies. Amarix has acquired a 100 percent stake in the company which is based at <a data-gid="gid://syiq/Company/5375" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="La Ciotat Shipyards (Company)">La Ciotat Shipyards</a> in the South of France. <a data-gid="gid://syiq/Company/7171" href="https://sya.superyachttimes.com/news#managed-by-system" target="_blank">Yachtelec</a> was founded in 2007 and has worked on more than 700 major yacht projects, with major industry names including <a data-gid="gid://syiq/Company/54" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Heesen Yachts (Company)">Heesen</a>, <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> and <a data-gid="gid://syiq/Company/64" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanco (Company)">Oceanco</a>.<img src="https://photo-assets.superyachttimes.com/photo/272302/image/large-ea0546e0c00d33ed24f4d6320c131573.jpg" data-gid="gid://syiq/Photo/272302">The acquisition, for an undisclosed sum, is part of a wider strategy to increase the group’s market presence and to leverage the turnkey project capability of the company’s MACOR brand in the international superyacht sectors. MACOR specialises in the repair of mechanical and hydraulic systems and machinery, fabrication, and pipework. Since its formation in 1986, the company’s four business units has worked on more 3,000 vessels and represents some of the maritime industry’s market leading OEMs (original equipment manufacturers), operators and managers.<a data-gid="gid://syiq/Company/7171" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yachtelec (Company)"><img src="https://photo-assets.superyachttimes.com/photo/272303/image/large-e4cbb96766566bd6db8ae9ff0b316b1a.jpeg" data-gid="gid://syiq/Photo/272303"></a>“The acquisition of <a data-gid="gid://syiq/Company/7171" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yachtelec (Company)">YACHTELEC</a> makes complete sense and strengthens the group’s portfolio,” said AMARIX founder Nicolas Martinetti. “With <a data-gid="gid://syiq/Company/7171" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yachtelec (Company)">YACHTELEC</a> joining the group’s MACOR and ETI Services brands we close the circle to provide a complete turnkey services solution, covering all mechanical, hydraulic, electrical, electromechanical, and electronic systems onboard. We look forward to welcoming our new colleagues to the AMARIX family, now counting 75 employees, and working with them to ensure a seamless transition for our new clients and customers,” he said.Commenting on the developments taking place in the luxury yacht market, Xavier Deval, Amarix Group's Business Director, said: “It is forecast that that the luxury yacht will grow by 8% in the next five years, with the trend being for larger vessels. We are already seeing some yacht refit yards invest in facilities to meet the demand for larger, longer tonnage. But owners are also looking for models with a higher degree of customisation and features, such as state-of-the-art lighting and audio systems. We can now meet this demand. The inclusion of <a data-gid="gid://syiq/Company/7171" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yachtelec (Company)">YACHTELEC</a> to our portfolio significantly strengthens our network, almost doubling the number of technical experts and specialists we have in the field.”&nbsp;<a data-gid="gid://syiq/Company/7171" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yachtelec (Company)">Yachtelec</a> Director Remi Colace said: "The acquisition and integration in to AMARIX Group is a great step forward for YACHTELEC, ensuring brands continued development and growth trajectory. This makes us stronger and able to offer more technical packages and expertise to our superyacht customers and more."&nbsp;

Amarix Group acquires Yachtelec

The ship repair and maintenance group Amarix has acquired French electrical and electromechanical services company YACHTELEC. 

Repair and maintenance group Amarix acquires electromechanical services company Yachtelec

The German ship and superyacht builder <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> has acquired a 25 percent share of the <a data-gid="gid://syiq/Company/1075" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lloyd Werft (Company)">Lloyd Werft</a> shipyard in Bremerhaven which was rescued from insolvency in 2022. The previous shareholders of <a data-gid="gid://syiq/Company/1075" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lloyd Werft (Company)">Lloyd Werft</a>, the Gustav Zech Foundation and the Rönner Group, will retain their shares of 25 percent and 50 percent respectively.<img src="https://photo-assets.superyachttimes.com/photo/187919/image/large-a57b186dd13f9b0328662ebc98cc0f8f.jpg" data-gid="gid://syiq/Photo/187919">According to the Federal Cartel Office, <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a>'s entry is permitted because there is considerable competition in the construction and repair of civil ships and yachts in particular, both in Germany, but also worldwide. The shipyard currently has over 200 employees and the entrance of <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> into the ownership agreement will help to secure those jobs, and to continue the yard's yachting industry activities. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/250303/image/large-570ecf32ee6b3d131ac95ffc9bcf438c.jpg" data-gid="gid://syiq/Photo/250303">Andreas Mundt, President of the Federal Cartel Office, commented, "The <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen Group</a> from Bremen and the <a data-gid="gid://syiq/Company/1075" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lloyd Werft (Company)">Lloyd</a> shipyard in Bremerhaven are both active in the construction and repair of civilian ships, especially yachts. There are a large number of competitors in this area, both in Germany and worldwide. Against this background, the merger project was approved."&nbsp;

Lürssen acquires 25 percent of Lloyd Shipyard 

Lürssen has acquired a 25% share of Bremerhaven Lloyd Shipyard.

Lürssen acquires 25% of Lloyd Werft Shipyard in Bremerhaven

Gulfstream Aerospace Corporation has announced the appointment of <a data-gid="gid://syiq/Company/124" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Edmiston (Company)">Edmiston</a> as its international sales representative for Gulfstream sales in the United Kingdom and Channel Islands. Edmiston will be responsible for promoting and supporting Gulfstream with customers and prospects throughout the region. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/268669/image/large-702867741e5a56010988526d19adae64.jpg" data-gid="gid://syiq/Photo/268669">Scott Neal, senior vice president, Worldwide Sales, for Gulfstream comments, "Michael Swift, Gulfstream’s Division Vice President of sales for EMEA-ISC and I look forward to working with Jamie Edmiston and his team to leverage their local expertise as we continue to expand our presence and grow our share in these key markets. <a data-gid="gid://syiq/Company/124" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Edmiston (Company)">Edmiston</a> is well-respected in their industry and was an excellent partner choice given their strong customer relationships and shared focus on sustainability.”<img src="https://photo-assets.superyachttimes.com/photo/268671/image/large-4f1ae7a6abd1568cd51340c2596f8768.jpg" data-gid="gid://syiq/Photo/268671">Gulfstream opened its state-of-the-art LEED-certified, 20,903 square-meter service centre at Farnborough Airport in the United Kingdom in 2020. Designed with sustainability in mind, the centre includes rainwater harvesting, hangar radiant heating, intelligent lighting controls and heat recovery systems. Gulfstream was also the first original equipment manufacturer to fly on 100 percent sustainable aviation fuel (SAF) and the first business jet to cross the Atlantic using SAF.<img src="https://photo-assets.superyachttimes.com/photo/268670/image/large-990bb272fc83dc5f1ab042c5341b29a6.jpg" data-gid="gid://syiq/Photo/268670"><img src="https://photo-assets.superyachttimes.com/photo/268672/image/large-1d76aa6e294cd37596e5f546409bb342.jpg" data-gid="gid://syiq/Photo/268672">“We have long been known as innovators in both business and marketing, working with leaders in their fields,” said Jamie Edmiston, chief executive, <a data-gid="gid://syiq/Company/124" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Edmiston (Company)">Edmiston</a>. “I am delighted to be partnering with Gulfstream, the industry leader in sustainability, and with the most highly regarded fleet of business jets.”<img src="https://photo-assets.superyachttimes.com/photo/268668/image/large-4097572da0a97f6920de29067cc75d31.jpg" data-gid="gid://syiq/Photo/268668">

Edmiston partners with Gulfstream 

Edmiston has been appointed International sales representative for UK and Channel Islands. 

Edmiston appointed Gulfstream representative for UK and Channel Islands

Italy-based yacht builder <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> has signed an offer to acquire another 33 percent stake in artisanal furniture company Duerre. The closing of the deal in the next few days will see <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> reach a majority 66 percent stake in Duerre. <img src="https://photo-assets.superyachttimes.com/photo/254878/image/large-31d4e0b1eeac8a65117ce017dbca9e93.jpg" data-gid="gid://syiq/Photo/254878">The acquisition of Duerre’s majority represents a strategic opportunity for <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> within its path towards vertical integration in key supply chains. Sanlorenzo’s previous acquisition of a 33 percent stake closed on 29 April 2022.The law firm Musumeci, Altara, Desana and Associates assisted <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> in the negotiation of contractual aspects, with a team composed by name partner professor Toti S. Musumeci, together with the senior associate Leonardo Musumeci.Duerre has a strong heritage since the 1940s in the production of artisanal high-end furniture, mainly for superyachts, but also for residential real estate, offices, hospitality, and commercial buildings.&nbsp;

Sanlorenzo to acquire another 33% stake in Duerre

Sanlorenzo has signed an offer to acquire another 33 percent stake in artisanal furniture company Duerre.

Sanlorenzo signs offer to acquire a further 33% stake in Duerre

Frédéric Dormeuil has an eclectic career history that includes the likes of JCB, his own family business, Dunhill and Aston Martin. He stormed into the yachting sector in 2018, partnering up with Patrick Coote, now Managing Director of <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop and Johnson (Company)">Northrop &amp; Johnson</a> Europe to establish The Superyacht Show – and his reception couldn’t have been warmer.&nbsp;Dormeuil has since partnered with <a data-gid="gid://syiq/Company/158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fraser (Company)">Fraser Yachts</a> and Superyacht TV and was just appointed CEO of <a data-gid="gid://syiq/Article/56854" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="BWA Yachting acquires SOS Yachting and appoints Frédéric Dormeuil as CEO (2023-01-31 12:30:00 +0100)">SOS Yachting, following the acquisition by BWA Yachting</a>. SuperYacht Times sat down with Dormeuil to hear all about it. <img src="https://photo-assets.superyachttimes.com/photo/264724/image/large-283f2e091e77716886d75a1e927daaf0.jpg" data-gid="gid://syiq/Photo/264724">What do you bring to&nbsp;<a data-gid="gid://syiq/Company/4921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SOS Yachting (Company)">SOS Yachting</a>?I’m used to working without the safety cushion that major corporate structures offer, which has challenged me to think differently and hone my entrepreneurial spirit. My experience with JCB all the way through to running my own business has given me an entrepreneurial mindset, but also a grittiness. As a fresh set of eyes to the industry, I think I bring something a little bit new and a little bit different.<img src="https://photo-assets.superyachttimes.com/photo/194393/image/large-3ac3130eb206a2a785c73815d4269e28.jpg" data-gid="gid://syiq/Photo/194393">What’s your vision for&nbsp;<a data-gid="gid://syiq/Company/4921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SOS Yachting (Company)">SOS Yachting</a>?&nbsp;My role isn’t to disrupt but to investigate the modus operandi and tighten any weak spots – almost like a consultancy project. <a data-gid="gid://syiq/Company/4921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SOS Yachting (Company)">SOS Yachting</a> has done a fantastic job these past 10 years, positioning itself as the market leaders in our field. My job is to maintain and strengthen this position.This year will be calm. The team has already had two major changes in short succession: a buyout, swiftly followed by a management change. Quite a lot to absorb for anyone’s system!&nbsp;How will&nbsp;<a data-gid="gid://syiq/Company/4921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SOS Yachting (Company)">SOS Yachting</a>&nbsp;operate under the&nbsp;<a data-gid="gid://syiq/Company/1850" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="BWA Yachting (Company)">BWA Yachting</a>&nbsp;umbrella?&nbsp;We’re striving for structural independence with family cooperation. The Board has given me the power and autonomy to go and do what’s best for <a data-gid="gid://syiq/Company/4921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SOS Yachting (Company)">SOS Yachting</a>, and an independent CEO ensures minimal crossovers between the two brands. Despite being very different to <a data-gid="gid://syiq/Company/1850" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="BWA Yachting (Company)">BWA Yachting</a>, there are a great deal of synergies between us – and both sides will learn a lot from each other. <img src="https://photo-assets.superyachttimes.com/photo/256092/image/large-d998faebe0e92b5fefc05be5ee09ca5c.jpg" data-gid="gid://syiq/Photo/256092">You’ve recently decided to expand to Monaco. Why?Monaco makes enormous sense; it’s the capital of yachting. Our French office isn’t far by any means, but Monaco is unique – there are so many of us in this small neck of the woods, and us planning to open here has been received positively from the industry.Any closing words about how the economical climate may impact the future?&nbsp;Mindsets have changed post-pandemic and from a macro-economic perspective it’s certainly positive for our strange little world. A lot of capital is being invested in yachting, following the stark reminder of just how fragile life is, and we’re seeing this capital trickle through supply chains and into local economies through both salaries and tourism, which is great!&nbsp;But, of course, an invigorated economy hasn’t simplified the legalities surrounding yachting – and I’m grateful to be part of <a data-gid="gid://syiq/Company/4921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SOS Yachting (Company)">SOS Yachting</a>’s drive to help make life easier for our clients.This article was originally published in&nbsp;<a href="https://www.superyachttimes.com/newspaper/newspaper-issue-44" target="_blank">Issue 44 of SuperYacht Times newspaper</a>.&nbsp;To read more stories like this one and to never again miss another issue of the SuperYacht Times newspaper,&nbsp;<a href="https://shop.superyachttimes.com/report/the-superyacht-times-subscription" target="_blank">subscribe here</a>.

Interview with Frédéric Dormeuil, CEO of SOS Yachting

SYT joins the new CEO of SOS Yachting to hear his vision and goals for the brand, as well as its repositioning underneath the BWA Yachting umbrella. 

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Five questions with SOS Yachting's new CEO Frédéric Dormeuil

Integra Investments has acquired <a data-gid="gid://syiq/Company/7099" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Perry Hotel & Marina (Company)">Perry Marina</a> and it's the fifth – and largest – marina in its portfolio. It occupies 35 acres, has a total of 288 wet slips and offers berths for superyachts up to 106-metres in length. Located at 7005 Shrimp Road, <a data-gid="gid://syiq/Company/7099" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Perry Hotel & Marina (Company)">Perry Marina</a> is minutes from Key West’s Old Town – the country's most southern point. <img src="https://photo-assets.superyachttimes.com/photo/264712/image/large-af7e7653805116e70919f2ab7a0aed48.png" data-gid="gid://syiq/Photo/264712">“<a data-gid="gid://syiq/Company/7099" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Perry Hotel & Marina (Company)">The Perry Marina</a>’s location within a world-class destination for domestic and international boaters allows for some of the top fishing and nautical experiences of any coastal location, making this an anchor asset for our growing portfolio,” Victor Ballestas, a Principal of Integra Investments, commented. “Our strategic deployment of capital to The <a data-gid="gid://syiq/Company/7099" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Perry Hotel & Marina (Company)">Perry Marina</a> and Integra’s newest development, Wrecker’s Cay, Key West’s largest workforce housing project in over 50 years, are a testament to our commitment to the local community.”<img src="https://photo-assets.superyachttimes.com/photo/264713/image/large-78b57ee60bd6cf158f117f98497c9c64.png" data-gid="gid://syiq/Photo/264713"><a data-gid="gid://syiq/Company/7099" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Perry Hotel & Marina (Company)">Perry Marina</a> has an expansive portfolio of facilities, including gas and diesel bunkering, a captain’s lounge and a swimming pool. The adjacent Perry Hotel was simultaneously acquired by Key International and will be operated independently.<a data-gid="gid://syiq/Company/7100" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oasis Marinas (Company)">Oasis Marinas</a> will manage the marina property.

 Integra Investments buys Perry Marina in Key West 

Integra Investments has acquired the 288 berth Perry Marina in Key West, Florida. 

Integra Investments buys Perry Marina in Florida 

<a data-gid="gid://syiq/Company/7094" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Quick SpA (Company)">Quick SpA</a>, the Italian maker of nautical accessories, has signed an agreement to purchase 100 percent of <a data-gid="gid://syiq/Company/7095" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanguineti Chiavari (Company)">Sanguineti Chiavari Produzione Articoli Nautici Srl</a>, a Ligurian company specialising in the design and production of complex components for large pleasure boats, including gangways, boarding ladders, bathing ladders, tender handling systems, deck accessories and customised furnishings. <img src="https://photo-assets.superyachttimes.com/photo/264522/image/large-1e3343c0b3ae1ddb1faf0bbf9f20f191.jpg" data-gid="gid://syiq/Photo/264522">Owned by Fondo Italiano d'Investimento SGR, Armònia SGR and the Marzucco family, <a data-gid="gid://syiq/Company/7094" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Quick SpA (Company)">Quick</a> offers a diverse range of products from battery chargers, thrusters and docking systems to gyroscopic stabilisers, technical and decorative marine lighting, windlasses and anchoring systems for yachts of all types and sizes. Each of its product lines is designed, engineered and manufactured at its Italian headquarters in Ravenna, Italy.<img src="https://photo-assets.superyachttimes.com/photo/264520/image/large-77121db3ccf15da1042d7ebffc582cbe.jpg" data-gid="gid://syiq/Photo/264520">“<a data-gid="gid://syiq/Company/7095" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanguineti Chiavari (Company)">Sanguineti</a> is a company offering important manufacturing skills and a brand recognised worldwide for its quality and reliability, in a segment of the market with great potential for growth,” says <a data-gid="gid://syiq/Company/7094" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Quick SpA (Company)">Quick</a>'s CEO Michele Marzucco. “<a data-gid="gid://syiq/Company/7095" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanguineti Chiavari (Company)">Sanguineti</a> represents the first step in a project that aims to position Quick as a supplier of advanced value-added systems in all market segments,”The acquisition is part of <a data-gid="gid://syiq/Company/7094" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Quick SpA (Company)">Quick</a>’s strategy &nbsp;to consolidate its supply chain and grow the Group’s presence in the superyacht segment, a process that had already begun with the design and production of gyroscopic stabilisers, fins, windlasses and large propellers. Quick has seen its consolidated turnover grow from €35 million in 2018 to €62 million in 2022. Italy and the USA, the Group’s two most important markets, saw an increase in revenue of 27 percent and 22 percent respectively in 2022 compared to the previous year. <img src="https://photo-assets.superyachttimes.com/photo/264521/image/large-a833e111b0f1cc34a54668b0a740fe43.jpg" data-gid="gid://syiq/Photo/264521">“The Sanguineti takeover is a valuable opportunity for <a data-gid="gid://syiq/Company/7094" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Quick SpA (Company)">Quick</a>, allowing the Group to set up new synergies in sales and production; another step on the ambitious path toward becoming a more important player in the nautical components sector,” says Gianpaolo Di Dio, Senior Partner of Fondo Italiano and Chairman of the Board of <a data-gid="gid://syiq/Company/7094" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Quick SpA (Company)">Quick</a>. “We are seeing a lot of interest in our consolidation project among entrepreneurs in the industry, and we hope to continue on this path and announce more new buyouts of outstanding companies in the supply chain as early as this year."

Quick Group acquires Sanguineti

Quick SpA, the  Italian maker of nautical accessories, has signed an agreement to purchase 100% of Sanguineti.

The <a data-gid="gid://syiq/Event/176" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Giorgio Armani Superyacht Regatta - 2023">Giorgio Armani Superyacht Regatta 2023</a> officially kicks off in Porto Cervo today, 6th June 2023, with the Captains' briefing followed by a welcome cocktail for participants on the rooftop terrace of the <a data-gid="gid://syiq/Company/2826" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht Club Costa Smeralda (Company)">Yacht Club Costa Smeralda</a>. <img src="https://photo-assets.superyachttimes.com/photo/229376/image/large-aba5ff01196e691acc17d974971205b1.jpg" data-gid="gid://syiq/Photo/229376">The regatta will be accompanied once again by the <a data-gid="gid://syiq/Company/151" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Southern Wind (Company)">Southern Wind</a> Rendezvous, and run by the <a data-gid="gid://syiq/Company/2826" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht Club Costa Smeralda (Company)">Yacht Club Costa Smeralda</a>, alongside the title sponsor Giorgio Armani. The 17th edition of the event will conclude on the 10th June. Twelve superyachts are currently moored in Porto Cervo marina, a fleet which from tomorrow will be sailing the waters of the Costa Smeralda and weaving through the islands of the La Maddalena archipelago, providing a unique backdrop to the racing.Read:&nbsp;<a data-gid="gid://syiq/Article/57769" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yachts attending the Giorgio Armani Superyacht Regatta 2023 (2023-06-05 17:30:00 +0200)">Yachts attending the Giorgio Armani Superyacht Regatta 2023</a><img src="https://photo-assets.superyachttimes.com/photo/227719/image/large-79ba94574a5e14f23f8e077957aac6b7.jpg" data-gid="gid://syiq/Photo/227719">The fleet has been split into two divisions, Superyacht and <a data-gid="gid://syiq/Company/151" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Southern Wind (Company)">Southern Wind</a>. The Rendezvous is a key part of the <a data-gid="gid://syiq/Event/176" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Giorgio Armani Superyacht Regatta - 2023">Giorgio Armani Superyacht Regatta 2023</a> and sees owners and family competing in corinthian races, concluding with a sociable meet-up and dockside events. <img src="https://photo-assets.superyachttimes.com/photo/229379/image/large-cea83b86c27ba776c36b132d65464510.jpg" data-gid="gid://syiq/Photo/229379">Among the <a data-gid="gid://syiq/Company/151" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Southern Wind (Company)">Southern Wind</a> yachts, the SW105 <a data-gid="gid://syiq/Yacht/10474" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SØRVIND34.59m (113'6&quot;)Southern Wind2022">Sørvind</a>, whose name means "south wind", will be attending the event for the first time. Returning to the Rendezvous are yachts such as the SW102 <a data-gid="gid://syiq/Yacht/5985" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Egiwave31.78m (104'3&quot;)Southern Wind2015">Egiwave</a>, the SW100 <a data-gid="gid://syiq/Yacht/4276" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Freebird30.25m (99'3&quot;)Southern Wind2011">Freebird</a>, and the most competitive vessel in the fleet, the SW94 <a data-gid="gid://syiq/Yacht/6568" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Aragon28.64m (93'12&quot;)Southern Wind2012">Aragon</a>.The Superyacht division is in turn divided into 'Combined Performance &amp; Cruising Class' and ‘Superyacht Cruising Class’, reserved for superyachts in accordance with the regulations of the Superyacht Racing Association. The winner of this class will be awarded the prestigious Silver Jubilee Cup. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/229263/image/large-dea1766703f97de872f8b3033d9ee0ff.jpg" data-gid="gid://syiq/Photo/229263">Racing will take place over four days, through Saturday 10th June, with the size of the participating vessels meaning there will be a particular focus on safety. The Superyacht Division will have staggered starts every two to three minutes for this purpose. The courses, as always, will use the islands of the archipelago of La Maddalena as natural marks. As for the classic floating buoys used for the start, offset and finish line marks, organiser the <a data-gid="gid://syiq/Company/2826" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht Club Costa Smeralda (Company)">YCCS</a> will use MarkSetBot robotic buoys, which hold their position thanks to an electric motor teamed with a GPS system, with no need for anchors on the seabed.<img src="https://photo-assets.superyachttimes.com/photo/229378/image/large-dd64f1f46967cdc7810d78641fcbaea6.jpg" data-gid="gid://syiq/Photo/229378">The top-level fleet includes returning participants such as <a data-gid="gid://syiq/Yacht/5680" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pattoo33.0m (108'3&quot;)Vitters Shipyard2016">Pattoo</a>, a 33-metre <a data-gid="gid://syiq/Company/4373" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Malcolm McKeon Yacht Design (Company)">Malcolm McKeon</a> design which claimed victory in Porto Cervo in 2021 under the name Missy, as well as the modern <a data-gid="gid://syiq/Company/327" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Baltic Yachts (Company)">Baltic</a> 108 <a data-gid="gid://syiq/Yacht/4749" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="WinWin33.04m (108'5&quot;)Baltic Yachts2014">Win Win</a>, a 2022 participant, and <a data-gid="gid://syiq/Yacht/4020" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Inoui33.4m (109'7&quot;)Vitters Shipyard2013">Inoui</a>, designed by <a data-gid="gid://syiq/Company/53" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Philippe Briand Ltd. (Company)">Philippe Briand</a> for Switzerland's Marco Vogele, an owner who never misses the Superyacht Regatta. The Wallycento <a data-gid="gid://syiq/Yacht/6547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="V30.48m (100'0&quot;)Wally2017">V</a> will undoubtedly attract attention thanks to its aesthetic lines and technology - designed by Mark Mills with interiors by <a data-gid="gid://syiq/Company/4640" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pininfarina (Company)">Pininfarina</a> and built by <a data-gid="gid://syiq/Company/4656" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Persico Marine (Company)">Persico Marine</a>.&nbsp;“The <a data-gid="gid://syiq/Event/176" href="https://sya.superyachttimes.com/news#managed-by-system" target="_blank">Giorgio Armani Superyacht Regatta</a> opens our international sporting season, and I want to extend the warmest of welcomes to the owners and crews, many of whom return to Porto Cervo every year. Thanks to them and to <a data-gid="gid://syiq/Company/151" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Southern Wind (Company)">Southern Wind</a> for showing their appreciation for our event. And special thanks must obviously go to Giorgio Armani, for choosing the <a data-gid="gid://syiq/Company/2826" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht Club Costa Smeralda (Company)">YCCS</a> and uniting his name with the Superyacht Regatta. Fair winds to everyone!” commented <a data-gid="gid://syiq/Company/2826" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht Club Costa Smeralda (Company)">YCCS</a> Commodore Michael Illbruck. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/229454/image/large-97ab5de5db02f4d908ca88fc825cf786.jpg" data-gid="gid://syiq/Photo/229454">The programme back on land will see the Giorgio Armani Owners' Dinner held on the evening of 7th June, without doubt the most glamorous and exclusive moment of the week, while the Farewell Party taking place on Friday 9th is also not to be missed, and is open to all the crews. &nbsp;The forecast for tomorrow indicates light winds, which are set to strengthen in the following days. The first starting signal is expected to sound at 11.30 a.m. for the <a data-gid="gid://syiq/Company/151" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Southern Wind (Company)">Southern Wind</a> fleet, followed by the Superyacht division at 12 midday.<img src="https://photo-assets.superyachttimes.com/photo/229452/image/large-7f6d1fcb4614897f4cca0cf579725d46.jpg" data-gid="gid://syiq/Photo/229452">SuperYacht Times' Editor in Chief, Francesca Webster, is attending this week's event and will be on site to update on the latest news throughout the regatta.&nbsp;

Giorgio Armani Superyacht Regatta 2023

The Giorgio Armani Superyacht Regatta 2023 has begun, with the 17th edition featuring the Southern Wind Rendezvous.

The Giorgio Armani Superyacht Regatta returns with SW Rendezvous

Italy-based yacht builder <a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Overmarine Group SPA (Company)">Overmarine</a> has announced the launch of the first hull in the Mangusta Oceano 39 series. The 39.2-metre motor yacht was launched in Italy, with her owner, the Magusta team and all the workers involved with her construction in attendance. <img src="https://photo-assets.superyachttimes.com/photo/273018/image/large-1965135db3f79bb6c72a988df2926bb4.jpg" data-gid="gid://syiq/Photo/273018">The Mangusta Oceano 39 yacht has been developed and engineered by the shipyard’s engineering department, in collaboration with <a data-gid="gid://syiq/Company/3025" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alberto Mancini Yacht Design (Company)">Alberto Mancini</a> and <a data-gid="gid://syiq/Company/1365" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Verme Projects (Company)">Studio Verme</a>. &nbsp;The tri-deck yacht combines design and technology to create a strong identity in line with the Mangusta DNA.“We are so proud to see the first unit of this innovative new model in the water. The Mangusta Oceano 39 is a new three-decker characterised by huge glazed surfaces, where supporting structures and bulwarks have, conversely, been minimised, so as to offer the closest possible contact with the sea", explained Maurizio Balducci, CEO of the <a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Overmarine Group SPA (Company)">Overmarine Group</a>. <img src="https://photo-assets.superyachttimes.com/photo/188409/image/large-dc6a18da7acaddc5482881a066708d14.jpg" data-gid="gid://syiq/Photo/188409">The Mangusta Oceano 39 yacht is described by the shipyard as “a modern villa on the sea,” and is characterised by her extensive and wide glass surfaces. She features a high volume normally found on larger yachts, with her interior design penned by <a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Overmarine Group SPA (Company)">Overmarine</a>'s technical department, alongside her owner.The first hull in the Mangusta Oceano 39 yacht series boasts floor-to-ceiling windows of her main and upper decks, which can be opened to seamlessly blend her interior and exterior spaces.&nbsp;Her aft area includes foldable terraces to provide direct access with the water, as well as providing guests with total relaxation in utmost privacy. Like other Mangusta models, the Mangusta Oceano 39 features a glass-bottomed infinity pool on her upper deck, which creates mesmerising water reflections into her master stateroom.<img src="https://photo-assets.superyachttimes.com/photo/188410/image/large-eca8d66fba6f15e3739348ffbc840a87.jpg" data-gid="gid://syiq/Photo/188410">In terms of accommodation, the Mangusta Oceano 39 yacht has a five stateroom layout, with her master suite situated on the main deck with a fully-automated balcony. Remaining guest accommodations include four staterooms on the lower deck with ensuite bathrooms.Performance-wise, the Mangusta Oceano 39 yacht is powered by twin <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> 12V 1,700 horsepower engines, which deliver her with a top speed of 16 knots, a cruising speed of 12 knots and a range of 2,600 nautical miles.<img src="https://photo-assets.superyachttimes.com/photo/273017/image/large-3a9dfdba7620dc0cb60ddb5810ade0f8.jpg" data-gid="gid://syiq/Photo/273017">The Mangusta Oceano 39 series yacht is also with fully-customisable interiors and 2,600 horsepower engines, which provide her with a top speed of 20 knots and a cruising speed of 18 knots.The next unit available for sale in the Mangusta Oceano 39 series will be hull three, with an expected delivery date of November 2024.<img src="https://photo-assets.superyachttimes.com/photo/188421/image/large-38489f99eb5cd94c9aced23fdb3c6fdb.png" data-gid="gid://syiq/Photo/188421">

39m Mangusta Oceano 39 yacht launched

The first hull in the Mangusta Oceano 39 yacht series was launched in Italy. 

First 39m Mangusta Oceano 39 motor yacht launched

<img src="https://photo-assets.superyachttimes.com/photo/207899/image/large-f6c61df52163211dd2da766676915a26.jpg" data-gid="gid://syiq/Photo/207899">The 46.8-metre <a data-gid="gid://syiq/Company/1414" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bilgin Yachts (Company)">Bilgin</a> motor yacht <a data-gid="gid://syiq/Yacht/5546" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Giaola-Lu46.8m (153'7&quot;)Bilgin Yachts2016">Giaola-Lu</a> has been sold with Arne Ploch from <a data-gid="gid://syiq/Company/6" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Camper & Nicholsons International (Company)">Camper &amp; Nicholsons</a> representing the buyer and Hans van Doornmalen and Antonio Yturbe of <a data-gid="gid://syiq/Company/124" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Edmiston (Company)">Edmiston&nbsp;</a>representing the seller.&nbsp;<img src="https://photo-assets.superyachttimes.com/photo/24087/image/large-1f34bafc4eeea201b217ae946efe243f.JPG" data-gid="gid://syiq/Photo/24087"><img src="https://photo-assets.superyachttimes.com/photo/24085/image/large-5b488b09cfd708cae121a3f8d81e8fbc.JPG" data-gid="gid://syiq/Photo/24085">The motor yacht was delivered in 2016 and is the 15th largest yacht built by <a data-gid="gid://syiq/Company/1414" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bilgin Yachts (Company)">Bilgin</a>. She features exterior design by <a data-gid="gid://syiq/Company/161" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="H2 Yacht Design (Company)">H2 Yacht Design</a>, while her interior was penned by <a data-gid="gid://syiq/Company/161" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="H2 Yacht Design (Company)">H2 Yacht Design</a>, with naval architecture by <a data-gid="gid://syiq/Company/4305" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Unique Yacht Design (Company)">Unique Yacht Design</a>. Up to 16 guests can be accommodated onboard the superyacht <a data-gid="gid://syiq/Yacht/5546" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Giaola-Lu46.8m (153'7&quot;)Bilgin Yachts2016">Giaola-Lu</a>, and she also has accommodation for 10 crew members, including the captain.<img src="https://photo-assets.superyachttimes.com/photo/207892/image/large-bd6df747c79263573f78fd25bdef63c0.jpg" data-gid="gid://syiq/Photo/207892"><img src="https://photo-assets.superyachttimes.com/photo/24083/image/large-c2b655d6ae1296d35fa8459f0818e9fe.JPG" data-gid="gid://syiq/Photo/24083">The motor yacht has a steel hull and aluminium superstructure. She is powered by twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar Inc</a> engines, which give her a cruising speed of 12 knots and a top speed of 17 knots. The yacht carries 64,600 litres of fuel onboard, and 12,300 litres of water.<img src="https://photo-assets.superyachttimes.com/photo/23990/image/large-4cf3d3d63917fe0d77d6da72a3c44c19.JPG" data-gid="gid://syiq/Photo/23990"><img src="https://photo-assets.superyachttimes.com/photo/23989/image/large-4e60735bcf6a783f3c9473a8c5c2f07a.JPG" data-gid="gid://syiq/Photo/23989">Her last known asking price was €17,200,000.

47m Bilgin motor yacht sold

The 46.8-metre Bilgin motor yacht Giaola-Lu has been sold with Camper & Nicholsons representing the buyer and Edmiston representing the seller

47m Bilgin motor yacht Giaola-Lu sold

Delivered in 2012, the 33.52-metre <a data-gid="gid://syiq/Company/745" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="JFA Yachts (Company)">JFA</a> yacht <a data-gid="gid://syiq/Yacht/2553" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mousetrap33.52m (109'12&quot;)JFA Yachts2012">Mousetrap</a> has entered the market for the first time. The <a href="https://www.superyachttimes.com/yachts/mousetrap/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht, Mousetrap, for sale</a>, is one of the largest carbon-fibre catamarans in the world and combines comfort with liveability. <img src="https://photo-assets.superyachttimes.com/photo/272979/image/large-6174f4281bc4d82cff1c1a58bcc0abfe.jpg" data-gid="gid://syiq/Photo/272979"><a data-gid="gid://syiq/Yacht/2553" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mousetrap33.52m (109'12&quot;)JFA Yachts2012">Mousetrap</a> has been meticulously maintained since her delivery, with annual shipyard visits over the last five years. The <a href="https://www.superyachttimes.com/yachts/sailing/for-sale" rel="noopener noreferrer" target="_blank" title="">sailing yacht for sale</a> features exterior design and naval architecture by France-based <a data-gid="gid://syiq/Company/39" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="VPLP Design (Company)">VPLP Design</a>, with interior design from Cittolin Polli &amp; Associés SA.<img src="https://photo-assets.superyachttimes.com/photo/272984/image/large-e71aa4bc01f04c65ed69cc2c40543a05.jpg" data-gid="gid://syiq/Photo/272984">The carbon-fibre <a href="https://www.superyachttimes.com/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a> was designed to sail anywhere and has previously crossed the Pacific and Atlantic oceans. Her shallow draft allows Mousetrap to cruise to the most remote islands and shallow bays, partnered with her expansive volume and impressive stability. <img src="https://photo-assets.superyachttimes.com/photo/272985/image/large-503f4fafcf64c2233fbce110f7d0df8b.jpg" data-gid="gid://syiq/Photo/272985"><img src="https://photo-assets.superyachttimes.com/photo/272986/image/large-c9a39874da800dfb4880696e65410ce9.jpg" data-gid="gid://syiq/Photo/272986"><a data-gid="gid://syiq/Yacht/2553" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mousetrap33.52m (109'12&quot;)JFA Yachts2012">Mousetrap</a> features a light and airy interior design, thanks to her innovative double hulled design. Her full-beam main saloon includes plush sofas and seating options with a dining area for formal meals. <img src="https://photo-assets.superyachttimes.com/photo/272976/image/large-c03b5cc2e57f94f311ded2f1076c6f99.jpg" data-gid="gid://syiq/Photo/272976">The <a href="https://www.superyachttimes.com/yachts/jfa-yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">JFA yacht for sale</a> can comfortably accommodate up to nine guests in four queen staterooms. Each room includes an ensuite bathroom and a natural flow of light from her hull windows. <img src="https://photo-assets.superyachttimes.com/photo/272983/image/large-8daaa718af76fdd5666787eecac5688f.jpg" data-gid="gid://syiq/Photo/272983"><a data-gid="gid://syiq/Yacht/2553" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mousetrap33.52m (109'12&quot;)JFA Yachts2012">Mousetrap</a> combines all the amenities of a larger sailing yacht into the design of a catamaran, while remaining luxurious enough to host the whole family. Her sheltered aft deck provides the perfect opportunity to dine alfresco, or relax with a cocktail on her sumptuous sofas. <img src="https://photo-assets.superyachttimes.com/photo/272991/image/large-8138d2a28ac4d1a209395205d494018d.jpg" data-gid="gid://syiq/Photo/272991"><img src="https://photo-assets.superyachttimes.com/photo/272972/image/large-aca38516d0b6c319431eccf0580772b3.jpg" data-gid="gid://syiq/Photo/272972">She features a custom Jacuzzi on her foredeck and allows guests to top up their tan on her spacious sundeck. <a data-gid="gid://syiq/Yacht/2553" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mousetrap33.52m (109'12&quot;)JFA Yachts2012">Mousetrap</a> also comes equipped with a 6.3-metre custom carbon-fibre X-Tender, as well as a 5-metre crew tender, and a collection of diving equipment and toys.<img src="https://photo-assets.superyachttimes.com/photo/272973/image/large-173876a8c82aa25533282abbf9c6c40c.jpg" data-gid="gid://syiq/Photo/272973"><img src="https://photo-assets.superyachttimes.com/photo/272970/image/large-15ff9f555232c38e30e1026516d1a326.jpg" data-gid="gid://syiq/Photo/272970"><a data-gid="gid://syiq/Yacht/2553" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mousetrap33.52m (109'12&quot;)JFA Yachts2012">Mousetrap</a> features a &nbsp;sail plan inspired by the multihull racing world, with a large gennaker, innovative load sensor technology and PLC Force Feedback steering. Her Southern Spar mast is also good for another 10 years, leaving her in turnkey condition for her new owner.<img src="https://photo-assets.superyachttimes.com/photo/272982/image/large-c2956770b2a1bdf2845dc16c01e21b94.jpg" data-gid="gid://syiq/Photo/272982">In terms of propulsion, <a data-gid="gid://syiq/Yacht/2553" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mousetrap33.52m (109'12&quot;)JFA Yachts2012">Mousetrap</a> is powered by twin <a data-gid="gid://syiq/Company/1483" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cummins Inc. (Company)">Cummins</a> engines, providing her with a top speed of 12 knots and a cruising speed of 10 knots.&nbsp;<img src="https://photo-assets.superyachttimes.com/photo/272977/image/large-08f1ac222a4a39528394ef768b27238c.jpg" data-gid="gid://syiq/Photo/272977">

34m JFA catamaran yacht Mousetrap for sale

The 34m JFA yacht Mousetrap has entered the market for the first time. Mousetrap is one of the largest carbon-fibre catamarans in the world. 

World’s largest carbon-fibre catamaran Mousetrap for sale for the first time

<img src="https://photo-assets.superyachttimes.com/photo/27691/image/large-0d90fc46ba55e261a568f5c4f95157b0.JPG" data-gid="gid://syiq/Photo/27691">The 36.88-metre<a data-gid="gid://syiq/Company/544" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Crescent Custom Yachts (Company)">&nbsp;Crescent Custom</a> flybridge yacht <a data-gid="gid://syiq/Yacht/1526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Marbri36.88m (120'12&quot;)Crescent Custom Yachts2003">Marbri</a>, previously named Joan's Ark, Olga, Baroness, and Crescent Lady, has been sold with Robert R J Curry of <a data-gid="gid://syiq/Company/887" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RJC Yacht Sales & Charter (Company)">RJC Yacht Sales &amp; Charter</a> representing the buyer and Jim McConville of <a data-gid="gid://syiq/Company/1102" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Allied Marine (Company)">Allied Marine</a> representing the seller.<img src="https://photo-assets.superyachttimes.com/photo/231949/image/large-61c74d59ea43c4d5df34108b47022864.jpeg" data-gid="gid://syiq/Photo/231949"><img src="https://photo-assets.superyachttimes.com/photo/231950/image/large-867d4e4ff92564f60435c9a1a4acf8df.jpeg" data-gid="gid://syiq/Photo/231950">The flybridge yacht was delivered in 2003 and is the seventh-largest yacht built by <a data-gid="gid://syiq/Company/544" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Crescent Custom Yachts (Company)">Crescent Custom</a>. She features exterior design by<a data-gid="gid://syiq/Company/218" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Jack Sarin Naval Architects, Inc. (Company)">&nbsp;Jack Sarin Naval Architects, Inc.</a>, while her interior was penned by <a data-gid="gid://syiq/Company/612" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Robin Rose & Associates (Company)">Robin Rose &amp; Associates</a>, with naval architecture by <a data-gid="gid://syiq/Company/218" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Jack Sarin Naval Architects, Inc. (Company)">Jack Sarin Naval Architects, Inc</a>.. Up to 10 guests are accommodated onboard <a data-gid="gid://syiq/Yacht/1526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Marbri36.88m (120'12&quot;)Crescent Custom Yachts2003">Marbri</a>, and she also has accommodation for five crew members, including the captain of <a data-gid="gid://syiq/Yacht/1526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Marbri36.88m (120'12&quot;)Crescent Custom Yachts2003">Marbri</a>.<img src="https://photo-assets.superyachttimes.com/photo/231964/image/large-f8f2ffc0785affe72675a93a255418d4.jpeg" data-gid="gid://syiq/Photo/231964">The flybridge yacht has a grp hull and grp superstructure and is powered by twin <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines, giving her a cruising speed of 18 knots and a top speed of 22 knots. The yacht carries 30,283 litres of fuel onboard, and 4,542 litres of water.<img src="https://photo-assets.superyachttimes.com/photo/231980/image/large-2ded46599e292c87f244444acfbf5083.jpeg" data-gid="gid://syiq/Photo/231980">Her last known asking price was $5,395,000.00.&nbsp;

37m Crescent Custom flybridge yacht Joan’s Ark sold and renamed Marbri

The 36.88-metre Crescent Custom flybridge yacht Marbri has sold with RJC Yacht Sales representing the buyer and Allied Marine representing the seller

The 44.5-metre <a data-gid="gid://syiq/Company/149" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Christensen Shipyards, LLC. (Company)">Christensen</a> superyacht <a data-gid="gid://syiq/Yacht/172" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Milestone44.5m (145'12&quot;)Christensen Shipyards, LLC.2007">Milestone</a> sold in an in-house deal with <a data-gid="gid://syiq/Company/1102" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Allied Marine (Company)">Allied Marine</a> broker Jim McConville representing both the buyer and seller during negotiations.<img src="https://photo-assets.superyachttimes.com/photo/273006/image/large-6366e60dffccdc2467c0e138a9c05ec8.png" data-gid="gid://syiq/Photo/273006"><a data-gid="gid://syiq/Yacht/172" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Milestone44.5m (145'12&quot;)Christensen Shipyards, LLC.2007">Milestone</a> was delivered in 2007 from the United States and boasts exterior design and naval architecture from her builder <a data-gid="gid://syiq/Company/149" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Christensen Shipyards, LLC. (Company)">Christensen Shipyards</a>. The 498 GT yacht is considered to be the most customised <a data-gid="gid://syiq/Company/149" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Christensen Shipyards, LLC. (Company)">Christensen</a> ever built, from her plush interior by the <a data-gid="gid://syiq/Company/150" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pavlik Design Team (Company)">Pavlik Design Team</a>, to her expansive outdoor living areas.<img src="https://photo-assets.superyachttimes.com/photo/273005/image/large-5b046b29da7b0cd6679a7b6742615bd5.png" data-gid="gid://syiq/Photo/273005"><img src="https://photo-assets.superyachttimes.com/photo/273004/image/large-7c158d08c22f9e95c6e96a510df21c22.png" data-gid="gid://syiq/Photo/273004"><img src="https://photo-assets.superyachttimes.com/photo/273003/image/large-19cbe3efd3c2542d1119ffc142d91c1d.png" data-gid="gid://syiq/Photo/273003"><a data-gid="gid://syiq/Yacht/172" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Milestone44.5m (145'12&quot;)Christensen Shipyards, LLC.2007">Milestone</a> showcases a classic interior design, with maple and sycamore joinery and high quality marble. Guests are able to relax in one of six sumptuous staterooms, with her master suite providing a private oasis that offers picturesque views from oversized windows.<img src="https://photo-assets.superyachttimes.com/photo/273002/image/large-18fd5cfab126181f2e0b3b58f632e986.png" data-gid="gid://syiq/Photo/273002"><img src="https://photo-assets.superyachttimes.com/photo/273001/image/large-8429d6ed6e53674207602bc4dca3c90b.png" data-gid="gid://syiq/Photo/273001">Key amenities onboard <a data-gid="gid://syiq/Yacht/172" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Milestone44.5m (145'12&quot;)Christensen Shipyards, LLC.2007">Milestone</a> include state-of-the-art gym equipment, a Jacuzzi and expansive sunpads. Her skylounge provides cinema seating and can also be converted into a dance floor allowing guests to dance the night away.<img src="https://photo-assets.superyachttimes.com/photo/273000/image/large-b570fa4133a5e515991a865f9f935624.png" data-gid="gid://syiq/Photo/273000">Performance-wise, <a data-gid="gid://syiq/Yacht/172" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Milestone44.5m (145'12&quot;)Christensen Shipyards, LLC.2007">Milestone</a> is equipped with twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> engines, which provide her with a top speed of 18 knots and a cruising speed of 11 knots.

45m Christensen superyacht Milestone sold

The 45m Christensen superyacht Milestone sold in an in-house deal with Allied Marine. 

45m Christensen superyacht Milestone sold in-house

The first 36.8-metre <a data-gid="gid://syiq/Company/2360" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ocean King (Company)">Ocean King</a> Ducale 120 yacht was revealed last week at the <a data-gid="gid://syiq/Event/175" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Venice Boat Show - 2023">Venice Boat Show</a> in Italy. Christened <a data-gid="gid://syiq/Yacht/8690" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vayus36.8m (120'9&quot;)Ocean King2023">Vayus</a>, the displacement yacht made her Italian premiere as the largest yacht at the show.<img src="https://photo-assets.superyachttimes.com/photo/272954/image/large-2f7e36e577e8e65239bd492d07620d6c.jpeg" data-gid="gid://syiq/Photo/272954"><a data-gid="gid://syiq/Yacht/8690" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vayus36.8m (120'9&quot;)Ocean King2023">Vayus</a> features a steel and aluminium superstructure with an interior volume of 334 GT. Designed in Venice, the explorer yacht features an Italian pedigree DNA, with interior and exterior design by <a data-gid="gid://syiq/Company/4663" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="VYD Studio (Company)">VYD Studio</a>, and naval architecture penned by <a data-gid="gid://syiq/Company/4565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="InNave (Company)">InNave</a>. <img src="https://photo-assets.superyachttimes.com/photo/272947/image/large-79a1e87ab0fc5362ac161626bed3cbb0.jpeg" data-gid="gid://syiq/Photo/272947">“The Ducale 120 is our newest addition and exemplifies the superior craftsmanship, technological innovation, and meticulous design that <a data-gid="gid://syiq/Company/2360" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ocean King (Company)">Ocean King</a> is known for,” commented the shipyard.&nbsp;Read:&nbsp;<a data-gid="gid://syiq/Article/57278" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="First 37m Ocean King Ducale 120 superyacht launched (2023-03-31 12:30:00 +0200)">First 37m Ocean King Ducale 120 superyacht launched<img src="https://photo-assets.superyachttimes.com/photo/272993/image/large-206898e18968cea5a5a14baaa2ddc350.jpeg" data-gid="gid://syiq/Photo/272993"></a><a data-gid="gid://syiq/Yacht/8690" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vayus36.8m (120'9&quot;)Ocean King2023">Vayus</a> showcases modern and elegant lines, exhibiting a harmonious balance between interior and exterior spaces. She boasts plenty of natural light, thanks to vast side windows that can be opened to full-height on her side walkways.<img src="https://photo-assets.superyachttimes.com/photo/272948/image/large-82f7227692f739b74186a3328b349bfa.jpeg" data-gid="gid://syiq/Photo/272948">In terms of accommodation, <a data-gid="gid://syiq/Yacht/8690" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vayus36.8m (120'9&quot;)Ocean King2023">Vayus</a> has a five stateroom layout for up to 12 guests, as well as being able to host a crew of seven between four cabins. During her premiere, Luca Zaia, the President of the Veneto Region visited the <a data-gid="gid://syiq/Company/2360" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ocean King (Company)">Ocean King</a> stand to praise the craftsmanship and quality of her design. <img src="https://photo-assets.superyachttimes.com/photo/272949/image/large-50c19245d833bfdee53c18d82204cde8.jpeg" data-gid="gid://syiq/Photo/272949">"We are presented with a vessel that is a work of art, made of steel, and made in Veneto," said President Zaia. "<a data-gid="gid://syiq/Company/2360" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ocean King (Company)">Ocean King,</a> a shipyard from Chioggia, has chosen to create this fifth vessel with the highest quality and top performance in mind."Read: <a data-gid="gid://syiq/Article/57693" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Everything you need to know about the Venice Boat Show 2023 (2023-05-29 09:00:00 +0200)">Everything you need to know about the Venice Boat Show 2023<img src="https://photo-assets.superyachttimes.com/photo/272950/image/large-e7e8dc948989a162a43ffba086cba125.jpeg" data-gid="gid://syiq/Photo/272950"></a>Some of her key features onboard <a data-gid="gid://syiq/Yacht/8690" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vayus36.8m (120'9&quot;)Ocean King2023">Vayus</a> include two swimming pools, with a seawater swimming pool built between the wide and deep stern beach club and the main deck. The second swimming pool is heated and located on the sun deck, surrounded by large sun beds and a bar.<img src="https://photo-assets.superyachttimes.com/photo/272952/image/large-d2183ce6d895234c6a321fd9227e58ef.jpeg" data-gid="gid://syiq/Photo/272952">Performance-wise, the <a data-gid="gid://syiq/Yacht/8690" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vayus36.8m (120'9&quot;)Ocean King2023">Vayus</a> is equipped with twin <a data-gid="gid://syiq/Company/1441" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MAN (Company)">MAN</a> engines that allow her to reach a top speed of 14 knots, with a cruising speed of 12 knots.&nbsp;<img src="https://photo-assets.superyachttimes.com/photo/264617/image/large-656b52440821f743f4e0c9d4811135a2.jpg" data-gid="gid://syiq/Photo/264617">

37m Ocean King Ducale 120 yacht Vayus at Venice Boat Show

The first model in the Ocean King Ducale 120 series, Vayus, was revealed last week at the Venice Boat Show in Italy. 

First 37m Ocean King Ducale 120 yacht Vayus revealed at Venice Boat Show

UK-based <a data-gid="gid://syiq/Company/5025" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Andy Waugh Yacht Design (Company)">Andy Waugh Yacht Design</a> has unveiled the renderings for a new 80-metre superyacht concept, Decadence. The concept takes inspiration from the automotive and aeronautical industries, while embodying the spirit of 1920s motor racing.<img src="https://photo-assets.superyachttimes.com/photo/272931/image/large-04096a5b63816c81ff56ec7fd9c511d7.jpg" data-gid="gid://syiq/Photo/272931">Decadence features a small-waterplane-area twin hull (SWATH), which minimises the cross section area at the sea’s surface. “Small-waterplane-area-twin-hull’ vessels are catamarans with submerged, cylindrical hulls attached to a central body by ‘stilts’ of minimal cross section,” explains Andy Waugh. <img src="https://photo-assets.superyachttimes.com/photo/272924/image/large-4483e976c4ab3081a034c37550131e01.jpg" data-gid="gid://syiq/Photo/272924">“As a result Decadence could achieve a reduction in pitch and roll movements of around 70 percent over a conventional monohull, vastly improving both comfort and safety onboard.” <img src="https://photo-assets.superyachttimes.com/photo/272925/image/large-8791139121baa14192d9be1b6ce3d7a2.jpg" data-gid="gid://syiq/Photo/272925">Decadence boasts a 30-metre beam and an interior volume of 5,000 GT, with her SWATH hull opening up to provide a plethora of opportunities for her interior layout. One of these options allows the owner to choose a large master suite measuring 20-metres wide, 30-metres long, with three-metre high ceilings. <img src="https://photo-assets.superyachttimes.com/photo/272927/image/large-ff8390d8555f00083e02a40f7bd62cf3.jpg" data-gid="gid://syiq/Photo/272927">The excessive beam onboard Decadence has been coupled with increased stability to operate in adverse weather conditions. Her design also allows for the storage of two 14-metre chase boat tenders from Skyline Yachts.&nbsp;Read:&nbsp;<a data-gid="gid://syiq/Article/55677" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Serafina: The 70m superyacht concept from Andy Waugh Yacht Design (2022-08-02 12:30:00 +0200)">Serafina: The 70m superyacht concept from Andy Waugh Yacht Design<img src="https://photo-assets.superyachttimes.com/photo/272932/image/large-08151c2eba19bc6bbf0593889e93b10a.jpg" data-gid="gid://syiq/Photo/272932"></a>In terms of performance, Decadence is equipped with a radical propulsion system which, when combined with its slender hulls, should reduce energy use by around 30 percent minimising refueling frequency.<img src="https://photo-assets.superyachttimes.com/photo/272928/image/large-ae572e877f67bf3f2611ca9437738ca8.jpg" data-gid="gid://syiq/Photo/272928">Andy Waugh Yacht Design was established in 2010 and has already been making waves in the industry. The company is currently working on their first 100+-metre new-build commission for an American tech billionaire.<img src="https://photo-assets.superyachttimes.com/photo/272934/image/large-8ac51d76d155dc40e3cd8bbfffd23d7d.jpg" data-gid="gid://syiq/Photo/272934">Read: <a data-gid="gid://syiq/Article/55031" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dörries Yachts to build 100m+ superyacht for an American Tech-Billionaire (2022-04-26 15:45:00 +0200)">Dörries Yachts to build 100m+ superyacht for an American Tech-Billionaire</a>The project is currently in the engineering phase at the Bremen, Germany facility of Dörries Yachts. The project is scheduled to be delivered in 2025.&nbsp;<img src="https://photo-assets.superyachttimes.com/photo/272929/image/large-8d9be942580d9d3febc8271ae1c8ba96.jpg" data-gid="gid://syiq/Photo/272929">

80m Decadence superyacht concept by Andy Waugh Yacht Design 

Andy Waugh Yacht Design has unveiled the renderings for a new futuristic 80m superyacht concept, Decadence, based on 1920s motor racing.

Introducing Decadence: the 80m futuristic superyacht concept based on 1920s motor racing

The 61.3-metre <a data-gid="gid://syiq/Company/12" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="CRN (Company)">CRN</a> motor yacht <a data-gid="gid://syiq/Yacht/425" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Katharine61.5m (201'9&quot;)CRN2000">Katharine</a> is the 13th largest superyacht to emerge from the Italian shipyard. She was delivered in 2000 and, in 2017, underwent an extensive refit, which combined her timeless opulence with sophisticated technology. <img src="https://photo-assets.superyachttimes.com/photo/187695/image/large-60dcf9d71bdeb876bfd92c9978139749.jpg" data-gid="gid://syiq/Photo/187695"><img src="https://photo-assets.superyachttimes.com/photo/185421/image/large-7c0ec1b988a0d6aadef671ddabb558e5.jpg" data-gid="gid://syiq/Photo/185421"><a data-gid="gid://syiq/Yacht/425" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Katharine61.5m (201'9&quot;)CRN2000">Katharine</a>&nbsp;features naval architecture and an exterior design by <a data-gid="gid://syiq/Company/135" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Studio Scanu srl (Company)">Studio Scanu</a> and a distinctive interior by <a data-gid="gid://syiq/Company/67" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Zuretti Interior Design (Company)">Zuretti Interior Design</a>. <a href="https://www.superyachttimes.com" rel="noopener noreferrer" target="_blank" title="">SuperYachtTimes</a> takes a closer look at the interiors of the expansive 1,049 GT superyacht.&nbsp;<img src="https://photo-assets.superyachttimes.com/photo/187681/image/large-b32c08d85d25c7d3af38f387318ed6a2.jpg" data-gid="gid://syiq/Photo/187681" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"> <img src="https://photo-assets.superyachttimes.com/photo/187693/image/large-d39ef2a3f14f866e347b024253e40bcc.jpg" data-gid="gid://syiq/Photo/187693">Entering the main saloon, the highly detailed and skilfully crafted wooden panelling contrasts with the neutral tones of the ceiling and furniture, exuding an elegance reminiscent of a French chateau. The main saloon is comprised of palatial plush sofas, exquisite art, and a grand piano creating the perfect home away from home ambiance. It is the ideal setting for reading, savouring cocktails or even selecting a movie from the extensive collection of over 320 films.<img src="https://photo-assets.superyachttimes.com/photo/187680/image/large-6d0d0f60bb8b90d9de81bd68ebda7c12.jpg" data-gid="gid://syiq/Photo/187680"><img src="https://photo-assets.superyachttimes.com/photo/187692/image/large-e514b744e235c2c20b51fc28bc46c475.jpg" data-gid="gid://syiq/Photo/187692"><img src="https://photo-assets.superyachttimes.com/photo/187691/image/large-ac38967cd8fe561965f0834335691315.jpg" data-gid="gid://syiq/Photo/187691"><img src="https://photo-assets.superyachttimes.com/photo/187693/image/large-d39ef2a3f14f866e347b024253e40bcc.jpg" data-gid="gid://syiq/Photo/187693"><a data-gid="gid://syiq/Yacht/425" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Katharine61.5m (201'9&quot;)CRN2000">Katharine</a> is able to accommodate as many as 12 guests in unparalleled luxury and comfort across six staterooms. Each of the staterooms radiates elegant opulence. The full-beam master suite, named the Chris Smith Master Suite, features a romantic window seat as well as an expansive lounge area. His-hers marble bathrooms meticulously contrast with the dark-toned crafted wooden panels.<img src="https://photo-assets.superyachttimes.com/photo/187689/image/large-2fa1558b9c7852a1400e61a5f9fdcf44.jpg" data-gid="gid://syiq/Photo/187689"><img src="https://photo-assets.superyachttimes.com/photo/187686/image/large-9fbdc774d23c3f86d553c4a11afd5141.jpg" data-gid="gid://syiq/Photo/187686"><img src="https://photo-assets.superyachttimes.com/photo/187683/image/large-951542c5fcea6f5975986d2588403c51.jpg" data-gid="gid://syiq/Photo/187683"><img src="https://photo-assets.superyachttimes.com/photo/187687/image/large-283fc0306bf1968372feb9216dc53fe8.jpg" data-gid="gid://syiq/Photo/187687">As for the VIP stateroom, known as the John Hacker VIP Stateroom, it boasts panoramic windows, a reading nook, and a luxurious marble and onyx bathroom with both a bath and shower. The three double and twin guest suites are all equipped with ensuite marble shower rooms, providing additional accommodations of utmost comfort.<img src="https://photo-assets.superyachttimes.com/photo/187685/image/large-302aa8eec2e698dd1d505604413041ce.jpg" data-gid="gid://syiq/Photo/187685" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><img src="https://photo-assets.superyachttimes.com/photo/187682/image/large-0045003f5733f628dd0a4222ea264dfc.jpg" data-gid="gid://syiq/Photo/187682">The spacious practicalities and the stately interior style overflow into the exterior spaces. The main aft deck offers ample seating, ideal for relishing the views or enjoying pre-dinner cocktails and canapes.<img src="https://photo-assets.superyachttimes.com/photo/187676/image/large-bbd86271cd9d3e9654a19160e57bfa9b.jpg" data-gid="gid://syiq/Photo/187676"><img src="https://photo-assets.superyachttimes.com/photo/187672/image/large-a7aa60aacef13e03e437447ac0daf299.jpg" data-gid="gid://syiq/Photo/187672"><img src="https://photo-assets.superyachttimes.com/photo/187674/image/large-9f1894c58b23fd890a569cc9ddf77f99.jpg" data-gid="gid://syiq/Photo/187674"><img src="https://photo-assets.superyachttimes.com/photo/187675/image/large-df614d058fdce35ad8b975d511bb0455.jpg" data-gid="gid://syiq/Photo/187675">As for the expansive sundeck, it entices guests to spend their time outdoors with an elaborately crafted oversized Jacuzzi adorned with wooden panelling on the side. It also features a round wooden table with seating for all guests onboard for an idyllic alfresco dining experience with unobstructed panoramic views. &nbsp;A day head shower is also available for added convenience. <img src="https://photo-assets.superyachttimes.com/photo/187677/image/large-9e8adbdc39c22927036eb08039023285.jpg" data-gid="gid://syiq/Photo/187677"><img src="https://photo-assets.superyachttimes.com/photo/187678/image/large-e30368a6bb8e17abfcb545c27acd3269.jpg" data-gid="gid://syiq/Photo/187678">The motor yacht <a data-gid="gid://syiq/Yacht/425" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Katharine61.5m (201'9&quot;)CRN2000">Katharine</a> is powered by twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Catepillar</a> engines which give her a cruising speed of 14 knots and a top speed of 15 knots. <img src="https://photo-assets.superyachttimes.com/photo/187669/image/large-9ec99be5c85b0949520654cd7af1cd9d.jpg" data-gid="gid://syiq/Photo/187669"><a data-gid="gid://syiq/Yacht/425" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Katharine61.5m (201'9&quot;)CRN2000">Katharine</a> is currently available for charter with <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop and Johnson (Company)">Northrop &amp; Johnson</a>.&nbsp;

Onboard 61m CRN yacht Katharine 

Take a closer look onboard the 13th largest superyacht to emerge from CRN,  61.3-metre Katharine, showcasing palatial interiors. 

Onboard 61m CRN superyacht Katharine showcasing a chateau-inspired design

<a data-gid="gid://syiq/Company/201" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ISA Yachts (Company)">ISA Yachts</a> has announced the launch of the 44.3-metre superyacht <a data-gid="gid://syiq/Yacht/9082" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="UV II44.3m (145'4&quot;)ISA Yachts2023">UV II</a> from the Ancona, Italy shipyard. The <a data-gid="gid://syiq/Company/201" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ISA Yachts (Company)">ISA</a> Gran Turismo 45 series yacht is characterised by her strong, sporty lines and plumb bow. <img src="https://photo-assets.superyachttimes.com/photo/272918/image/large-cd88f05311c42af2fc549e537b183128.jpg" data-gid="gid://syiq/Photo/272918">Christened <a data-gid="gid://syiq/Yacht/9082" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="UV II44.3m (145'4&quot;)ISA Yachts2023">UV II</a>, the motor yacht features key design features of the <a data-gid="gid://syiq/Company/201" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ISA Yachts (Company)">ISA</a> brand DNA, such as her side arches which connect her three decks. <a data-gid="gid://syiq/Yacht/9082" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="UV II44.3m (145'4&quot;)ISA Yachts2023">UV II</a> features exterior design by <a data-gid="gid://syiq/Company/1197" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Team for Design - Enrico Gobbi (Company)">Team for Design - Enrico Gobbi</a>, with naval architecture from Palumbo Superyachts. The client was introduced by Peter Redford and Eugenio Cannarsa of <a data-gid="gid://syiq/Company/158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fraser (Company)">Fraser Yachts</a> Australia.<img src="https://photo-assets.superyachttimes.com/photo/272917/image/large-39d631fae69d4da059869231ada3ef8d.jpg" data-gid="gid://syiq/Photo/272917"><a data-gid="gid://syiq/Yacht/9082" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="UV II44.3m (145'4&quot;)ISA Yachts2023">UV II</a> showcases large windows which can be opened on all decks to highlight her harmonious interior design. She is adorned with a colour palette of golds, sand and turquoise shades, penned by <a data-gid="gid://syiq/Company/58" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Luca Dini Design & Architecture (Company)">Luca Dini Design &amp; Architecture</a>. <img src="https://photo-assets.superyachttimes.com/photo/272920/image/large-c6fe2373884b91b56331d7e978914b3b.jpg" data-gid="gid://syiq/Photo/272920">The 430 GT yacht features a full-beam owner’s stateroom on the main deck forward, with an entrance hall, his-and-hers sinks in her ensuite bathroom, a walk-in wardrobe and a private balcony. The area also has direct access to the forward outdoor lounge via a private staircase. <iframe width="640" height="360" src="https://player.vimeo.com/video/833607840?share=copy" frameborder="0" allowfullscreen="" class="fr-draggable"></iframe> The remaining guest accommodation onboard <a data-gid="gid://syiq/Yacht/9082" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="UV II44.3m (145'4&quot;)ISA Yachts2023">UV II</a> consists of four ensuite VIP suites, two of which include twin beds which can be made into doubles. <a data-gid="gid://syiq/Yacht/9082" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="UV II44.3m (145'4&quot;)ISA Yachts2023">UV II</a> also has a five-metre tender stowed in the side-opening starboard garage on the lower deck.<img src="https://photo-assets.superyachttimes.com/photo/272922/image/large-05f07083b1895c7262f421ce81881853.jpg" data-gid="gid://syiq/Photo/272922"><img src="https://photo-assets.superyachttimes.com/photo/272923/image/large-e1292ff7f8d6f6c7e22966bbe8be4da7.jpg" data-gid="gid://syiq/Photo/272923">Constructed with a steel hull and aluminium superstructure, <a data-gid="gid://syiq/Yacht/9082" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="UV II44.3m (145'4&quot;)ISA Yachts2023">UV II</a> is equipped with twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> C32 ACERT engines, which deliver her with a top speed of 16 knots and a cruising speed of 14.5 knots. <img src="https://photo-assets.superyachttimes.com/photo/272919/image/large-bc4c0558c1249f50a50d38d504e51687.jpg" data-gid="gid://syiq/Photo/272919"><a data-gid="gid://syiq/Yacht/9082" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="UV II44.3m (145'4&quot;)ISA Yachts2023">UV II</a> will make her world debut at both the <a data-gid="gid://syiq/Event/172" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2023 - 2023">Cannes Yachting Festival 2023</a> and the <a data-gid="gid://syiq/Event/182" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2023">Monaco Yacht Show 2023</a>. <img src="https://photo-assets.superyachttimes.com/photo/272921/image/large-8aed86cf367873fc854b60b31d42bb2e.jpg" data-gid="gid://syiq/Photo/272921">

ISA superyacht UV II launched

The 44m ISA yacht UV II has been launched from the Ancona, Italy shipyard.

Video: 44m ISA superyacht UV II launched in Ancona

<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> has published its 2022 quarterly business report, reflecting back on nine months of operations, and the <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">Group</a> is in excellent financial shape. <img src="https://photo-assets.superyachttimes.com/photo/112639/image/large-71dd2b977d22350f5c9d5439c079055c.jpg" data-gid="gid://syiq/Photo/112639">As of 30 September 2022, the <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">Group</a> reports that its total revenue exceeds €210 million, up 64.6 percent compared to €127.8 million as of 30 September 2021. It also reports a gross backlog (shipbuilding and refit) equal to €983 million, with a net backlog of €566 million.&nbsp;In regards to EBITDA, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> announced it hit the €33 million mark – 89.7 percent increase compared to the same nine-month period last year.&nbsp;“The results of the first nine months of 2022 confirm a strong and constant growth, allowing TISG to position itself at the highest end of the Revenue Guidance for 2022, with an EBITDA Margin as of September 30th at 15.7 percent, well above the target already announced to the market,” Giovanni Costantino, founder &amp; CEO of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>, commented. “The solidity of our strategy is also testified by the success of our series production projects that, just a few months after their launch, have generated a strong commercial interest with the sale, in the third quarter 2022, of two <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> Panorama 50 metre motor yachts.”<img src="https://photo-assets.superyachttimes.com/photo/240769/image/large-b3d71de28af8a1ddaf1754928e66048e.jpg" data-gid="gid://syiq/Photo/240769">“The implementation of these serial projects will allow a further acceleration of our growth path, by enhancing two different growth drivers and thus continuing to focus our internal engineering capacity on deeply innovative custom-made yachts such as the new <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini</a> fleet, that will soon be launched and, we believe, will bring more momentum to our order portfolio,” Costantino continued. “Furthermore, our investment plans progress steadily in all the three shipyards, with a significant focus on environmental sustainability thanks to the completion of the photovoltaic system in the Marina di Carrara shipyard and the successive start of the sheds coverage in the La Spezia and Viareggio production sites.”<img src="https://photo-assets.superyachttimes.com/photo/190633/image/large-7468869e75590740becc83b9377c52b9.jpg" data-gid="gid://syiq/Photo/190633">During this nine-month period, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> has invested around €11 million, as it progresses from <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> 4.0 to <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> 4.1, and finishes both the Viareggio and La Spezia production sites.&nbsp;<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> has a net financial debt of €46 million, compared to a positive net financial position of €41 million as of 31 December 2021. A major factor contributing to this financial position is the Perini Navi acquisition, which cost <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> €75m.&nbsp;The <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">Group</a> has 35 yachts currently under construction; it has 19 superyachts in-build and 16 <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a> for Lamborghini 63s underway.&nbsp;

TISG reports strong financial health

TISG reports strong financial health with a backlog nearing €110m and revenue exceeding €210m. It also reports 35 yachts in-build.

Mergers & Acquisitions

TISG acquires furniture company Celi