The new “patrons” of boating industry | The boss of Princess, Wider and Baglietto

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From casinos and resorts to Wider boats

In some cases, the new investor enters the shipyard by buying only a single share and then takes over complete ownership. This is what happened to Wider Yachts, a shipyard specialized in the manufacture of luxury yachts from 32 to 165 feet. On May 23rd 2018, the Ancona-based shipyard was totally acquired by Exa Limited, a branch of Genting Hong Kong Limited that already owned 50% of the company since December 2012. Tilli Antonelli and Paolo Favilla, CEO and Administrative Director of Wider Yachts, left everything to Tan Sri Lim Kok Thay, a Malaysian tycoon and President of Genting Berhad, the society that owns some among the world’s major chains of casinos, resorts and cruise lines with a capital of 40 billion dollars.

The passion of Arnault for English boats

Some partnerships resist over time. An example is offered by Princess Yachts International, one of the oldest brands of English yachting based in Plymouth. In June 2018, 70% of the British shipyard was acquired for 200 million pounds by. LVMH (Moët Hennessy Louis Vuitton), a European society based in Paris and owner of many companies specialised in high fashion and luxury goods. LVMH revolves around Bernand Arnault, a French businessman and one among the richest men in the world with assets of 26 billion dollars. The corporate alliance is going well for the English shipyard if we consider that, in 2017, it set a record of sales with orders for a total of 1 billion dollars and a 26.6% rise in turnover compared with 2016.

The successful bet of Gavio on Baglietto

The group of investors who have decided to bet on yachts includes Beniamino Gavio, the Italian President of “Gruppo Gavio” (motorway networks, major works, transports and logistics). In 2012, Gavio acquired the shipyard Baglietto, specialized in the manufacture of luxury yachts with 160 years of history. At that time, however, the Italian shipyard was close to bankruptcy. Gavio invested EUR 50 million, 18.5 of which were used for the brand while 18 million were used for the construction of a new production site. Gavio’s investment was successful and the productive activity of the shipyard is excellent today. Indeed, the company closed 2014 with a turnover of EUR 46 million and a growth of EUR 10 million compared with 2016. Gruppo Gavio also owns Bertram Yacht and CCN.

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