PPF at the helm of Robertson and Caine
The investment fund PPF, which entered the nautical sector in 2021 via its entry into the Dream Yacht group, is making a major new acquisition. The structure, created in 1991 in the Czech Republic and now present throughout the world, has announced the expansion of its nautical division by acquiring the South African shipyard Robertson and Caine, renowned for its Leopard Catamarans brand, from its founders and shareholders, for an amount that remains confidential. The transaction is expected to close in the second quarter of 2023.
Growth of the boating industry and leverage in rental
For PFF, this strategic choice is explained by its confidence in the creation of long-term value in the marine sector. The fund says it wants to fulfill Robertson and Caine's commitments in the sailing and power catamaran markets, and to help develop future Leopard brand boats.
As a majority shareholder of the Dream Yacht Group, PPF also acquires a significant potential lever for the development of its fleet. The delivery capacities of all the multihull shipyards are currently struggling to meet the demands of charterers. For many years, Leopard Catamarans has been linked to the large Anglo-Saxon charter company Sunsail The Moorings, for which it produces many boats. The balance is now shifting in favor of Dream Yacht Charter with this common capital link, although no exclusivity is mentioned. As a reminder, the Bénéteau Group is a shareholder in Dream Yacht alongside PPF, with a 40% stake.
