Ever since the great recession in 2007, the yachting industry has seen a series of mergers and acquisitions with many smaller yacht businesses being incorporated into the world’s largest yachting corporations. Chinese conglomerates have bought ownership in many of well-known yacht builders, while industry leaders in America and Europe continue to diversify by acquiring other companies. The month of July saw two yacht business acquisitions.
MarineMax Acquires Northrop and Johnson
In the beginning of the month, it was announced that Northrop & Johnson, one of the largest superyacht brokerage and services company, was acquired by America’s leading recreational boat and yacht retailer MarineMax, Inc. With this acquisition and its 2019 acquisition of Fraser yachts,1 the largest global superyacht brokerage and luxury yacht services company, MarineMax has become the dominant leader in the superyacht services industry.
“The merger with Northrop & Johnson marks another significant step in the diversification of MarineMax into a higher margin and digitally enhanced business. On a global scale, the unified team of Fraser Yachts and Northrop & Johnson creates an unprecedented superyacht powerhouse. From entry level boaters to the largest luxury yacht, we want our clients’ experiences to be the best in the world.” – William Brett McGill, Chief Executive Officer and President of MarineMax2
Northrop & Johnson has offices strategically located in prominent yachting markets all over the Americas, Europe, Asia, and Australia. Like Fraser Yachts, the company specialized in yacht brokerage, yacht chartering, charter management, crew placement, new build consultation and yacht insurance. Both companies bring a comprehensive network of clients, buyers, sellers, charterers, and highly qualified professionals.
“The acquisition of Northrop & Johnson furthers the MarineMax commitment to fulfilling our mission of exceptional customer service, regardless of whether a client is buying, selling, insuring, building, crewing or chartering. The combination allows us to provide an even greater network to serve our customers’ shared passion for yachting.” – William Brett McGill, Chief Executive Officer and President of MarineMax2
KAM Yacht Sales Acquires Luke Brown Yachts
Another Fort Lauderdale based yacht business was also acquired this summer. Luke Brown Yachts was acquired by KAM Yacht Sales, a subsidiary of commercial real estate firm Lormax Stern. Known for its broad range of yacht services including premier listings, charters, and new build consultation, Luke Brown Yachts is a boat brokerage house operating in different cities throughout Florida, Rhode Island, and the Bahamas.
With office locations, marinas, and boatyards in Michigan and Ohio, KAM Yacht Sales has expanded its reach along the East Coast with this new acquisition.
“We are thrilled for this new chapter at Luke Brown Yachts. We will be able to expand what we offer our clients while continuing to offer all of our current services and uphold our high customer service standards.” – Andrew Cilla, Former President of Luke Brown Yachts3
At Marine Diesel Specialists, we remain open and operational during the COVID-19 pandemic. Read about the precautions we are taking to ensure the health and safety of our employees and customers here.
At Marine Diesel Specialists, we specialize in maintaining, repairing, and rebuilding diesel engines on yachts. By following COVID-19 safety guidelines, our diesel specialists can work in marinas and shipyards.
In addition to MAN engine maintenance and general services, our certified marine diesel mechanics in Fort Lauderdale and Punta Gorda can complete any major marine diesel engine rebuild or overhaul project your vessel needs.
Contact us today to schedule a consultation.
- Boat International – MarineMax acquires Fraser Yachts
- KAM Yacht Sales, PR Newswire – KAM Yacht Sales Acquires Luke Brown Yachts
Our Marine Diesel Specialists offer a variety of products and services to provide marine diesel solutions in Fort Lauderdale and Punta Gorda. Our authorized MAN Engine dealers can offer expert maintenance, repair, and survey services, as well as complete engine, transmission, and generator overhauls. If you are seeking top-quality marine diesel solutions, products, or services, don’t wait to contact our Marine Diesel Specialists and Gulf Coast Diesel Service.