Luxury yacht brokerage YPI is sold to MMI
The investment division of Mercantile & Maritime Group (MMG) has acquired the luxury yacht brokerage and services provider YPI (Yachting Partners International).
Mercantile & Maritime Investments (M&MI), which has its HQ in Singapore, purchased the Monaco-based YPI from the French commercial shipping brokerage house, BRS, for an undisclosed sum.
An experienced investor and operator in the maritime sector, this deal sees MMG entering the international yachting market. With a foundation across the oil and gas value chain, it has recently invested significantly in new sectors, including luxury, commercial and residential real estate, technology, transport and distribution. The group has branches in London, Netherlands, Turkey, Russia, Cyprus and Iraq, as well as its Singapore head office.
“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.”
Simon Murray - Chairman at M&MI
YPI is a luxury yacht brokerage, dealing in yacht sales and purchases, as well as private charter and yacht management/refit services. It is one of the world’s oldest full-service yacht brokerages, having traded in the sector for 47 years.
“This investment marks an exciting new chapter of growth for YPI. The Mercantile and Maritime Group has an extensive global network and a wealth of experience in the maritime sector and we look forward to developing the business together with them going forward.”
Visit www.ypiyachts.com Visit www.mercantilemaritime.com
A majority stake in YPI Crew, based in Antibes, was sold by BRS in 2018 to the world’s third-largest commercial ship manager Berhard Schulte Group, a purchase that was arranged through its Singaporean affiliate, Schulte Maritime Services Pte Ltd.
Another brokerage, Camper & Nicholsons International, was purchased by another Asian company, the Hong Kong-based Lai Sun group.
Thanks to the increasing demand for luxury yachting experiences among high net worth and ultra-high net worth individuals, especially in developing regions of Asia-Pacific and the Middle East, the global yacht industry is predicted to reach US$74.7bn by 2022.