SINGAPORE, September, 2019 – Mercantile & Maritime Investments (“MMI”), the investment division of the Mercantile & Maritime Group, has today announced the acquisition of Yachting Partners International (“YPI”) from the BRS Group.
YPI is a boutique luxury yacht brokerage, offering yacht sales, personalised charter and management services to high net worth individuals across the globe. It is one of the world’s oldest full-service yacht brokerages with 47 years of heritage and expertise in bespoke luxury.
The acquisition by MMI injects new investment and vision into the company, enabling the business to continue evolving its model as it seeks to disrupt the yacht brokering market through a data-led and personalised service. The business currently holds one of the largest online database in the yachting world, built by AXS Marine.
Commenting on the acquisition, Mr Murtaza Lakhani, CEO and Founder of the Mercantile and Maritime Group, said: “We are excited to welcome YPI into the Group. With expertise in bespoke luxury and data-led intelligence and a client-first commitment, YPI is positioning itself at the forefront of next generation yachting.”
The global yacht industry is projected to reach US$74.7 billion by 2022, driven by the rising interest in luxury yachting experiences among high net worth and ultra-high net worth individuals particularly in developing regions of Asia-Pacific and the Middle East.
A spokesperson for YPI said: “This investment marks an exciting new chapter of growth for YPI. The Mercantile and Maritime Group has an extensive global network and longstanding experience in the maritime sector and we look forward to developing the business together with them going forward.”
The Mercantile and Maritime Group is an experienced investor and operator in the maritime sector. Operating principally across the oil and gas value chain, MM has made significant investments in a range of other sectors in recent years, including luxury, commercial and residential real estate, technology, transport and distribution.
ENDS
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