Yanmar invests $21 million in GetMyBoat
Yanmar America, the U.S. subsidiary of Japan's Yanmar Group, one of the world's largest manufacturers of inboard engines for recreational boating, has become the majority shareholder of GetMyBoat. It is one of the world's largest boat rental platforms. The Japanese investor injected $21 million in equity into the company, following an equity investment in 2018. GetMyBoat retains its management team and management autonomy.
International development and recruitment
The funds will be used to recruit new employees to expand the GetMyBoat team. They will also allow for a new stage in the international development of the platform. Since 2019 GetMyBoat has grown net sales by a factor of 10. The platform offers 150,000 boats in 9,300 destinations. GetMyBoat claims to have enabled over 2 million people to go boating by the end of 2022.
A large portfolio in the yachting industry
If the Yanmar brand is known for its marine engines, the group is present in the capital of other nautical companies, such as Vetus since 2014 or Smartgyro stabilizers. It also produces boats under its own name and works on hydrogen fuel cells. With the GetMyBoat reinforcement, Yanmar wants to play a cross-functional role in boating.
"Yanmar continues its commitment to using advanced technology to transform itself into a consumer-focused brand through this acquisition. Together, we are not only shaping the next generation of marine activities, but also reaching out to future generations of consumers globally," said Shiori Nagata, chief strategy officer of Yanmar
