In a strategic move to fortify its foothold in the yachting market, Catalano Shipping Services has successfully acquired Monaco Yacht Partner, ushering in a new era of expanded operations and a diverse service portfolio for their esteemed clientele.
The addition of Monaco Yacht Partner contributes a robust reputation and an extensive network of industry connections, enhancing the overall capabilities of the Catalano Shipping Services portfolio of companies.
Founded in 2010, Monaco Yacht Partner swiftly emerged as a prominent player in the Ship Chandler sector in Monaco. Renowned for its prime retail location at the heart of Monaco's main port, the company offers a comprehensive range of spare parts, supplies, and equipment, with a team of seasoned professionals dedicated to providing efficient advice and swift deliveries. The acquisition positions Catalano Shipping Services to provide global coverage, leveraging its presence in France, Monaco, Italy, New Zealand, Indonesia, and an extensive network of partners worldwide.
The integration of the two companies marks a significant milestone, promising clients an extended array of goods and services, coupled with enhanced budget benefits. The collaboration aligns seamlessly with the strategic objectives of Catalano Shipping Services and its integrated suppliers under the AGents group, expanding their influence in the industry.
With Fratelli Cosulich already having a presence in the business through Molo Vecchio Marine Supply in Genoa, this strategic move reinforces the global group's standing and opens avenues for further growth and success.
The envisaged merger of Monaco Yacht Partner and Molo Vecchio Marine Supply in 2023 is set to create a singular entity boasting an anticipated turnover of approximately 4-4.5 million Euros and a dedicated team of 10-12 employees. This unified entity will cover the expanse of Liguria and the southern part of France, from Menton to Saint Tropez. As a supplier of spare parts and consumables for yachts, the merged entity aims to become the 3rd/4th largest group in Italy within this segment.
While acknowledging the significance of major players in the yachting industry, the strategic vision of Catalano Shipping Services is to nurture local identities and focus on the niche market's specific needs. This approach aims to offer enhanced assistance in a segment where personalized service is paramount. The existing warehouse in Imperia, held by Molo Vecchio Marine Supply, is poised to play a crucial role in immediate synergies between the two structures. The growth strategy for next years revolves around the extension and mutualization of suppliers and catalogues, potential additional stores in France under a common brand, and a logistics-centric development, positioning the merged entity as a beacon of excellence in the yachting services landscape. The acquisition of Monaco Yacht Partner heralds a promising future for both entities, reflecting a commitment to industry leadership and customer satisfaction.
