December 11 2019
As the Paris 2019 Nautic is in full swing, the surprise came this morning with the announcement by Catana Group, manufacturer of the Bali and Catana catamarans, of the takeover of Magic Yachts.
This acquisition comes for the French group after 5 years of average annual growth of 50% and a 2019-2020 financial year with an order book that should enable it to exceed the €100 million turnover threshold.
Magic Yachts is a legendary shipyard, created in 1999 in Bizerte by Wally, the manufacturer of Monaco luxury yachts and sailing boats, and acquired in 2012 by a consortium of Italian entrepreneurs.
Located in the Bizerte free zone, Magic Yachts has an exceptional industrial site on the seaside of nearly 30,000 m2, including more than 10,000 m2 of modern buildings, and an experienced workforce.
Magic Yachts' know-how is renowned in all areas of high-end nautical construction (sailing and motor boats up to 40 metres, including catamarans), mastery of all composite technologies (infusion, injection, cooking of prepreg fabrics, epoxy, carbon), modelling, tools, carpentry, stainless steel, refitting of ships up to 45 metres, etc.
The acquisition of Magic Yachts comes at a time of strong production growth for Catana Group, whose Bali and Catana ranges are proving very successful, which has already invested nearly €10 million this year at its three current sites in Canet en Roussillon (France), Marans (France) and El Haouaria (Haco - Tunisia).
7 months ago, Catana Group announced its intention to open a new factory in Canet-en-Roussillon.
However, it seems that the problem of negotiating with the local authority to find the required space on the nautical centre, the delays involved, the difficulties of recruiting qualified personnel and the very significant increase in taxation on industrial activities, have weighed on the choice of the industrialist.
In fact, the existing Canet-en-Roussillon site, which produces nearly half of the Group's catamarans, will be optimized in the coming months, thus doubling the number of units produced in the historic Catana range.
The search for a large existing production tool had therefore become the solution to meet the production needs of the Bali range, whose highly innovative concept has ensured a significant increase in market share for several years.
Catana Group and Magic Yachts know each other well, who have been working together for several months, to produce models and moulds.
This collaboration has undoubtedly facilitated the establishment of the foundations of a more ambitious joint project with Francesco Campana, who had been managing the site since 2003 and who will remain permanently involved in the company.
Under the terms of the agreement, Catana Group will acquire 75% of Magic Yachts' capital through Haco, the French group's Tunisian production subsidiary, which already accounts for 20% of the Group's production.
This acquisition will be definitive after the last conditions precedent have been lifted, at the latest by the end of March 2020, but the collaboration between the two companies has already intensified.