An investment consortium led by Pembroke VCT plc, with support from Lepe Capital, has acquired Boat International Media. Reports say, Pembroke have paid £10 million.
Pembroke is a venture capital trust, which specialises in investing in high growth consumer-facing businesses. Lepe Capital is a growth capital investor that specialises in digital media. The consortium also includes several other private investors including Charles Dunstone and Tara Getty.
Boat International Media provides information and services across traditional print, digital media and organises eight annual events in Amsterdam, Kitzbühel, Monaco, Fort Lauderdale, Porto Cervo, and Virgin Gorda. It also owns a database of superyachts, as well as a social and business networking tool for superyacht captains and crew.
Andrew Wolfson, CEO of Pembroke, commented: “Boat International Media is the leading player in the superyacht industry with an unrivalled reputation amongst yacht owners, brokers and service companies alike. The company has achieved impressive growth in sales despite the economic downturn and profitability and momentum continues. We look forward to working with the experienced management team and supporting their strategic plan to further develop Boat International’s print media platforms as well as accelerate the transition to digital.”
Tony Harris, CEO of Boat International Media, commented: “We are delighted to be partnering with this group of investors. The team’s entrepreneurial operational focus and market knowledge will enable us to further cement Boat International’s position as the world’s leading media group serving the superyacht community.”
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