Since 1995, Monaco Marine has performed maintenance and refits on a variety of pleasure craft, including superyachts. What started as one shipyard in Monaco is now nine locations primarily in the South of France. Furthermore, they’re all now under the ownership of Safe Harbor Marinas.
The formal acquisition follows a joint announcement in June that the two were in negotiations. Specifically, the statement indicated that Safe Harbor was to acquire 100 percent of Monaco Marine. Based in Dallas, Safe Harbor already had a significant footprint throughout the United States and the Caribbean, with upwards of 140 marinas and boatyards. However, it wanted to develop a presence in Europe. A merger would make it possible.
Monaco Marine works on projects in the water and on land. In fact, it can hoist megayachts to 595 feet (160 meters). Primarily, though, it services yachts to about 295 feet (90 meters). “The Monaco Marine team cares deeply about providing exceptional service in some of the world’s most iconic yachting destinations,” notes Baxter Underwood, Safe Harbor Marinas’ CEO. “We are thrilled to be able to serve captains, crews, and owners in places like St. Tropez, Antibes, and Monaco.” The refit and service specialist has locations in La Ciotat and Marseilles in France, too.
As to its “exceptional service,” in Underwood’s words, Monaco Marine set a precedent for treating owners, captains, and crew. In the early to mid-1990s, Michel Ducros, an avid boater and a French businessman, was dissatisfied with his own experiences. He owned a Grand Banks yacht, which he cruised aboard along the French coast. Although he enjoyed his trips, he felt service in the region, including customer service deserved upgrades. Therefore, Ducros established the first Monaco Marine boatyard in the heart of Monaco. Staff wore traditional yachting uniforms and provided clients with a higher level of professionalism. Soon, Ducros realized a network of yards would be wise. Within two years, he added the sites in Saint-Laurent-du-Var and Beaulieu-sur-Mer, France. The company’s first step into the superyacht sector came in 2022, building the La Ciotat site from the ground up.
Monaco Marine monacomarine.com
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