Monaco Marine and the American group Safe Harbor Marinas announced on June 12 that they have entered into exclusive negotiations with a view to merge. With 30 years of experience, Monaco Marine manages luxury yacht maintenance and refits projects with eight yacht facilities and one marina spanning from Monaco to Marseille.
After consultations with employee representatives (which are subject to regulatory approvals) the proposed transaction will result in Safe Harbor Marinas acquiring 100% of the share capital of Monaco Marine SA.
“In a rapidly growing yachting market, Safe Harbor Marinas has expressed its intention to leverage the Monaco Marine network to develop its business in Europe, thanks to the synergies between the two groups. In particular, this merger would enable Monaco Marine to extend its network of shipyards,” states a press release by Monaco Marine.
With headquarters in Dallas, Texas, Safe Harbor Marinas owns and manages 139 marinas and shipyards in the United States and the Caribbean. If the acquisition goes through, Monaco Marine would be Safe Harbor’s first European expansion.
Brief History of Monaco Marine
Founded in 1995 in Monaco by Michel Ducros, Monaco Marine is a leading network in the Mediterranean, offering services ranging from maintenance to complete refits for pleasure boats from 10 to 90 metres. By the end of 1997, the initial two shipyards in Saint-Laurent-du-Var and Beaulieu-sur-Mer were added to the existing site in Monaco.
In 2002, Monaco Marine made a significant acquisition by adding the Cogolin site to its portfolio, located in the Gulf of Saint-Tropez.
In 2007, the Group ventured into the superyacht market, establishing a new shipyard in La Ciotat. This state-of-the-art facility specializes in yachts over 40 metres in length, boasting a 2000-tonne “Yachtlift” and a 90 metre paint shed, enabling the refitting of large vessels.
In 2012, Monaco Marine acquired the shipyard in Antibes. Six years later, they opened a cutting-edge service centre in La Seyne-Toulon, dedicated to superyachts and multi-hulls up to 50 metres in length. They solidified their presence in Marseille that same year, 2018, positioning themselves at the heart of the city and the Grand Port Maritime. In 2020, the group expanded with a shipyard in Juan-les-Pins, located in Port Gallice.
