Peninsula Yachting acquires majority stake in brokerage firm IYC
IYC operates across Europe and the Americas
Peninsula Yachting, a newly created investment vehicle focused on the maritime sector by Peninsula Capital, has acquired a majority stake in yacht brokerage and management firm IYC. The deal value was not disclosed.
IYC has head offices in Monaco and Fort Lauderdale, Florida, and operates globally, providing services including yacht sales, charter, charter management, yacht management and new construction. The company says the investment from the private equity firm will support its ongoing geographic expansion and the development of its brokerage and fleet management activities.
Peninsula Capital will provide capital and resources, along with its global business networks. The management structure at IYC remains unchanged.
Stefanos Makrymichalos, chairman of IYC, says: “This is a defining moment for IYC, not just a financial milestone, but a strategic one. Our new partners share our conviction that the best of IYC lies ahead of us. Together with our existing shareholders and with the talent across this organisation, we are stepping into the next and greatest chapter with renewed energy and enthusiasm.”
Michel Chryssicopoulos, global managing partner of IYC, adds: “We have built something that takes decades to earn: trust from owners, clients, and partners across oceans. This investment is a vote of confidence in what IYC stands for and in the teams that deliver it every day. Our commitment to the people and standards that define IYC is absolute, and we intend to take both further.”
IYC has more than 200 staff across 15 offices worldwide. Its services cover yacht brokerage and management, including sales, charter, charter management, yacht management and new construction.
Peninsula is a private equity fund manager founded in 2015. It has invested more than €1.5bn through five investment vehicles and has raised €3bn in total capital.
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