IYC announced yesterday that Peninsula Yachting acquired a majority stake in the company. Peninsula Yachting is a new investment vehicle of private equity fund manager Peninsula Capital.
The company stated in a press release that the partnership will enable IYC to pursue more ambitious organic and external growth opportunities, extend its fleet and brokerage capabilities, and bring its services to new client segments.
“This is a defining moment for IYC, not just a financial milestone but a strategic one,” chairman Stefanos Makrymichalos said in the release. “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 organization, we are stepping into the next and greatest chapter with renewed energy and enthusiasm.”
IYC shareholders remain committed to the company’s leadership team and strategic direction, the release said.
IYC provides a range of services across sales, charter, charter management, yacht management and new construction, with more than 200 professionals across 15 offices worldwide.
