BY Nick Walton on 13 Mar 2024

One of the most anticipated deals in the region, Simpson Marine Group, which has represented Sanlorenzo in Asia since 2015, has been acquired by the Italian shipyard.

It’s a deal that’s been in the works for the longest time but Sanlorenzo has finally acquired a 95% stake in Simpson Marine Group, which has been operating for 40 years as a leading yacht sales and service company throughout the APAC region. The deal will now see Simpson Marine providing Sanlorenzo with plug-and-play direct distribution in several key countries, including Hong Kong, Singapore, Mainland China (Shenzhen and Sanya), Thailand, Indonesia, Malaysia and Taiwan.

This capillary network is deemed highly strategic for the long-term growth of Sanlorenzo in the region, which is expected to witness the highest UHNWIs growth worldwide in the coming years, as well as a higher yachting penetration rate among the ultra-wealthy population.

One of the most anticipated deals in the region, Simpson Marine Group, which has represented Sanlorenzo in Asia since 2015, has been acquired by the Italian shipyard.

This is, in part, due to the significantly lower starting basis compared to more historical yachting markets such as the Mediterranean and the Americas, as well as the ongoing development of yachting infrastructure in Indonesia, Vietnam, the Philippines and along the Chinese Southern coastline, with the rise of Hainan as a new global luxury hub. Simpson Marine is now expected to play a pivotal role in the further development of Sanlorenzo’s service offering at the international level.

There’s no doubt that the deal capitalises on each company’s strengths – in addition to Sanlorenzo’s boatbuilding capability and global brand awareness, the whole Group is set to benefit from Simpson Marine’s extensive experience in a broad range of services, including charter, refit, superyacht brokerage and yacht concierge service, while giving Sanlorenzo access to a direct footprint from West to East.

One of the most anticipated deals in the region, Simpson Marine Group, which has represented Sanlorenzo in Asia since 2015, has been acquired by the Italian shipyard.

Mike Simpson

“The acquisition of Simpson Marine Group by Sanlorenzo is a strategic step towards a direct distribution business model that the company pursues with an aim to serve customers better and remain in a privileged relationship with them, regardless their residential location,” says recently appointed executive chairman for Simpson Marine Group, Luca Cristino.

“With 40 years’ experience and an impressive sales track in Asia, an excellent reputation and a dedicated expert team, Simpson Marine will continue to expand in Asia-Pacific with new market openings planned for Australia, New Zealand, Japan and Vietnam, to name but a few. We remain a multi-brand yachting sales company with a complete services portfolio, strategically aligning to Sanlorenzo’s high-end positioning and values of bespoke and made-to-measure, which have always been at the core of our DNA,” says Cristino.

For more Industry news click here