Sanlorenzo acquires majority stake in Simpson Marine

Asia Pacific
13th December 2023

Sanlorenzo acquires majority stake in Simpson Marine

Sanlorenzo, the Italian luxury yacht builder, has signed an agreement with Mike Simpson to acquire his equity in Simpson Marine, one of the leading yacht sales and service companies in the Asia-Pacific.

Simpson Marine Limited was founded by Mike Simpson in 1984, and offers new and pre-owned yacht sales, as well as charters, management, and after-sales services. The company has represented Sanlorenzo in Asia since 2015, and has now signed a binding share purchase agreement for Sanlorezo to acquire 95% of share capital of Simpson Marine Limited from Mike Simpson, with a payment of US$10m, plus an earn-out up to US$7m calculated on the net profit for the 2023 fiscal year, both paid with Sanlorenzo’s cash on hand.

Prior to the Sanlorenzo takeover, Simpson Marine Limited will make a distribution from retained earnings in favour of Mike Simpson.

Mike Simpson said:

The Sanlorenzo shipyard in Liguria, with divisions in Viareggio and Massa, has been building high-quality motor yachts since 1958, and now offers a charter service alongside the manufacturing of new models.

The acquisition will enable the company to increase its direct presence in the APAC region, on the back of the experience and expertise crafted by Simpson Marine.

Massimo Perotti, Executive Chairman of Sanlorenzo, commented:

The transaction is expected to close in the first quarter of 2024. Once the sale of Simpson Marine has been finalised, the next steps will include the deployment of the strategic alignment plan and regional expansion scheme for the Simpson Marine portfolio of brands and services.

The law firm Musumeci, Altara, Desana e Associati assisted Sanlorenzo with the negotiation of the contractual aspects, and the firm Howse Williams assisted Mike Simpson.

About Sanlorenzo About Simpson Marine


No comment yet.

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertise with M&M 
Follow us

To stay up-to-date with Marine & Maritime Opportunities, follow us on social media.