Trinity Yachts, LLC (Trinity) and International Yacht Collection (IYC) have announced today that they have signed a Letter of Intent for Trinity to acquire IYC. This acquisition will expand Trinity's capabilities and enable it to offer its clients the entire range of yachting services: new construction, repairs, brokerage, charter management, retail charter, yacht management, and crew placement. It is expected that the purchase should be completed by July 1, 2007.
Felix Sabates, Chairman of Trinity states "due to the high level of satisfaction with their new Trinity yachts, a number of our clients have expressed an interest in Trinity providing additional services to these owners and we are simply responding to their requests. Our goal is to make it as easy and enjoyable as possible for an owner to purchase, operate and ultimately sell their Trinity yacht". Trinity recently signed a contract for hull number 54, a 164 foot, 24 knot yacht. At any given time there are a number of Trinity yachts available on the brokerage market. Mr Sabates continues, “we felt the quickest path to be able to offer these expanded services was by an acquisition of an existing firm with a reputation for excellence and IYC certainly meets these requirements.”
Steve Hudson, President of IYC, comments, “I am proud of what my team has been able to accomplish over the past 8 years. IYC has grown significantly over those years, from one small brokerage office in Fort Lauderdale to 7 full service offices worldwide. The fact that Trinity, the leading US builder of superyachts, has chosen to acquire IYC is a testament to the hard work and efforts of everyone at IYC. The association with Trinity will be an immediate benefit to our employees as well as our worldwide client base.” Mr. Hudson will be staying on as a liaison and consultant for the combined company. He adds, “as the yachting industry changes and more consolidation takes place, this was a natural fit for two well run and well respected companies to combine forces to lead the way for yachting in the future.”
Trinity has recently worked with many of the world brokerage houses on signing contracts for the new construction of Trinity yachts. “Our plan is to continue our great relationship with the brokerage community, and we encourage their participation in new build contracts directly with Trinity Yachts. We will continue to work with the prospective client in whatever manner he or she feels most comfortable. If they have a broker they enjoy working with, we will be happy to continue with that relationship for the new construction of a Trinity Yacht. We also look forward to developing a closer relationship with IYC and its talented employees" commented John Dane, President of Trinity Yachts.