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Sevenstar acquires Dockwise Yacht Transport

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Holland-based Sevenstar Yacht Transport yesterday acquired Ft. Lauderdale-based Dockwise Yacht Transport for $40 million.


The acquisition includes two of Dockwise’s yacht transport ships, the Super Servant IV and its newest vessel, Yacht Express, both of which operate the float on/float off method of transport.


In addition to the vessels, Sevenstar plans to keep all Dockwise’s employees, including the crew on its ships and the office staff in Ft. Lauderdale, according to Catalina Bujor, PR and marketing officer for the company.


“It’s really business as usual, just under a different parent company,” she said. “It’s a great addition to their portfolio. They just acquired the best yacht transport company out there.”


Royal Boskalis Westminster N.V. acquired Dockwise in March to expand its marine services sector. The yacht transport division of Dockwise “have no strategic value and do not fit with the group’s existing core business,” Boskalis said in a statement. Boskalis focuses in the dredging, maritime infrastructure and maritime services sectors.


“There were really no synergies in our businesses,” Bujor said. “They specialize in heavy lifts and the transporting of luxury yachts was not in their portfolio.”


Sevenstar is already in the business of transporting yachts, though until now used cranes in a lift on/lift off method.


With eight days before the Ft. Lauderdale International Boat Show, Bujor said there was no time to rebrand DYT so visitors to the show will see its familiar orange booth.


“It’s an exciting and challenging time,” Bujor said. “There’s some uncertainty, of course, but it really should be a great merger.”


 

To read the Royal Boskalis Westminster N.V. press release, click here and Sevenstar press release here.


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