Sanlorenzo Closes the Acquisition of 95 Percent of Simpson Marine Group

Simpson Marine Group has operated for forty years as a leading yacht sales company throughout the APAC region, representing Sanlorenzo in Asia since 2015. This acquisition provides the Italian yard with direct distribution in several key countries, including Hong Kong, Singapore and Thailand. 

Luca Cristino, Executive Chairman for Simpson Marine Group, commented: ‘The acquisition of Simpson Marine Group by Sanlorenzo is a strategic step towards a direct distribution business model that the company pursues with aim to serve customers better and remain in a privileged relationship with them, regardless their residential location. With 40 years’ experience and 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, Vietnam, to name but a few.’

This network is considered highly strategic for the long-term growth of Sanlorenzo in this region, which is expected to see the highest UHNWI’s growth across the globe in the coming years. The APAC region is also expected to see a higher yachting penetration rate across the ultra-wealthy population. 

There have been a number of both public and private initiatives across the region to reinforce positivity surrounding the huge potential for market expansion, such as the yachting marinas’ development project in Indonesia, Vietnam, the Philippines and along the Southern Chinese coastline. 

The Asian brokerage is set to play a significant role in the increased development of Sanlorenzo’s service offering at an international level. The brand is set to benefit from the wide experience and expertise of Simpson Marine across a diverse range of services, spanning everything from yacht charter to yacht concierge. The Italian yard now boasts a direct footprint from West to East: a unique structure that can be leveraged to add cross-border commercial propositions. 

Cristino concluded: ‘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, that have always been at the core of our DNA. 2024 will be an exciting year for Simpson Marine with a host of business opportunities and we are ready, together with the team, to make the best of it.’