ptw Shipyard announces takeover

ptw Shipyard, located in Tarragona, on the Mediterranean coast of Spain, announces that has taken full ownership of the facility after acquiring the majority stake held by Melita Marine Group. The acquisition now brings 100% ownership to the founders of the shipyard. SuperyachtNews speaks with Xavier Mercado, CEO and founder of ptw Shipyard, to discuss the refit infrastructure in southern Spain, and the niche for an in house specialist like ptw Shipyard.

According to RSM Legal Partner and M&A Specialist, Victor Schrijner, this acquisition guarantees the company a sustainable future, giving ptw Shipyard founders full operational control so they can continue to expand their superyacht and megayacht refit and repair business.

The Spanish refit infrastructure has well-established hubs and key stakeholders. The extensive facilities in Barcelona and Palma de Mallorca, for example, service a sizeable proportion of the fleet. Frequently the popularity of the facilities in Spain can see capacity stretched beyond its limits, and as the fleet has grown, there is a well-documented need for more berthing and refit capacity across the region and the wider Mediterranean.  Mercado expresses his hope that ptw Shipyard can fill a specialised role in the growth of the region. 

“The main difference between our shipyard and some of the others in Spain is that while we have some very good infrastructure, such as the Marina at Port Tarraco, there is not a traditional superyacht ecosystem here, like you may find in Barcelona or Palma, where they rely heavily on subcontractors. Therefore we then need to build our own. We are following a business model where we have everything integrated. At present we have 60 staff, and growing, in qualified and specialised teams.”

ptw Shipyard facilities are located 50 minutes drive south of Barcelona and are alongside the deepwater Port Tarraco in the port city of Tarragona. These facilities cover a 15,000 sqm site, with direct waterfront access, two workshops for yacht painting, carpentry & interiors, engineering, electrical systems as well as access to our Caterpillar authorized sales & service. The 300-tonne travel lift also provides haulout services for smaller yachts in comparison to some of the larger facilities, reinforcing a focus on 30-45m size range vessels for work on the hardstand. Additionally, ptw Shipyard has the capacity for 100m+ vessels in water. 

“Having everything in house allows us to smooth out the refit process with vessels around 35 to 50m meters very well, continues Mercado “In some ways, I would love to have a business model like Palma in terms of capacity, but when you rely so heavily on subcontractors you can have issues with overbooking, so each model has its pros and cons.”

"This takeover strengthens our position and allows us to be one of the few Spanish shipyards that offer its clients a fully integrated yacht refitting service, under one roof with its own highly qualified trades team and specialized departments. Concludes Mercado,  "we continue to offer our clients all the expertise required for all aspects of a superyacht refit, delivered to the very highest quality standard in modern facilities’'

Sources:superyachtnews.com

Photo:JACK HOGAN