Camper & Nicholsons Reinforces Investors and Growth Plans
Following a series of announcements by Camper & Nicholsons International throughout 2015 and 2016 about the addition of Fincantieri S.p.A. and Lai Sun Development Company Limited as new shareholders, the company has reinforced its investor commitments and is well on its way to implementing its strategic growth plans.
Less than two years after taking a minority stake via a capital injection in Camper & Nicholsons International, Italian superyacht yard Fincantieri S.p.A. has increased its shareholding in the world’s most prestigious yachting brand to 50%, reinforcing its long-term commitment and belief in the C&N team.
Alongside Fincantieri’s investment, 50% shareholder Lai Sun Development Company has moved aggressively to invest in C&N operations and provide support for expansion into the Asia market, with further announcements regarding the company’s new Hong Kong base of operations anticipated in the coming weeks.
In addition to the company’s expansion into Asia, C&N has secured a marina-front office in Port Pierre Canto in Cannes, which will open Spring 2017 as its flagship European office. This follows a recent move to improve the company’s headquarters by relocating to the Gildo Pastor Center in Monaco.
Changes have also been made to the C&N executive team, including the immediate departure of Michael Payne as Chief Executive Officer. As part of his 22-year tenure, Mr. Payne played an instrumental role in preparing C&N for its current phase of growth with its new shareholders.
Recently appointed Managing Director of Camper & Nicholsons International, Paolo Casani, added: “We are very fortunate to have Fincantieri and Lai Sun as equal shareholders, providing the robust financial backing and active involvement needed to take C&N to even greater heights of success in the years to come.”