Takeover of Compositeworks
Marina Barcelona 92 (MB92) announced on November 8, 2017 the acquisition of 75% of the capital of Compositeworks. The agreement, signed on October 31 in Barcelona, provides that the remaining capital remains in the hands of the current shareholders. Benjamin Mennem will retain the presidency of Compositeworks and will be supported by his technical and operational teams.
An access door to the great shape of La Ciotat
We remember that the last few months have been marked by many movements in the yacht refit industry in France. The German shipyard Blohm+Voss caused a sensation at the end of 2016 by winning the award of the operation of the large form of La Ciotat, under the nose of local players including Compositeworks. Meanwhile bought by another German, Lürssen, Blohm+Voss joined forces in February 2017 with Catalan MB92 for the management of the La Ciotat site. At the same time, Compositeworks took control of its Roche counterpart, Atlantic Refit Center, thereby acquiring a large refit facility in the Atlantic, which was quickly put to use with the megayacht Ulysses. With the takeover by MB92, Compositeworks once again opens the door to the La Ciotat refit center.
Cooperating to develop La Ciotat
MB92 and Compositeworks, together with Blohm+Voss La Ciotat, say they want to cooperate closely to operate the La Ciotat site in the best possible conditions. Their objective is to attract high-potential projects and develop the service offered to customers on the French Riviera, as Pepe García-Aubert, head of MB 92, explains." We strongly believe in the development of the City of La Ciotat as a world-class yacht refit and repair center. This is not only due to its geographical location, but also to the industrial opportunities located on this site. Working closely with La Ciotat Shipyard (SEMIDEP), we are confident that within a few years we will achieve one of our main objectives by participating in the establishment of the city of La Ciotat as a world reference of excellence in yachting."
Creation of a world leader
With its 3 sites in La Ciotat, Barcelona and La Rochelle, the group created around MB92 becomes the most important in the world in the field of refit for large yachts. "Together, we are now the leader and the largest yacht refit and repair group in the world. The combination of our respective synergies and know-how will allow us to provide a better service to our customers on two major sites; Barcelona and La Ciotat", Benjamin Mennem says.
