One of the largest marina portfolios in the Middle East and Europe is changing hands after CVC Capital Partners has moved forward with the sale of D-Marin to French private equity firm InfraVia Capital Partners.
D-Marin operates 28 facilities in nine countries. Its customer base totals 50,000, with over 14,300 berths.
In its time under CVC, which acquired the marina operator in 2020 from Turkish firm Doğuş Group, it has since expanded operations from sites in the United Arab Emirates, Turkey, Croatia and Greece to other cruising destinations such as France, Italy, Malta, Albania and Spain.
The deal is reportedly worth €1 billion, according to the Financial Times.
“When we invested in D-Marin, we saw a business with tremendous potential. Having put in place an outstanding management team, led by Oliver Dörschuck, we transformed the business from a hidden gem into the clear market leader in premium marinas across Europe and the wider EMEA region,” said István Szőke of CVC. We expanded significantly across the Mediterranean, built the sector’s most digitally advanced platform, and created a business with unmatched scale, customer experience and operational excellence. We are incredibly proud of what we have achieved together and believe D-Marin is uniquely positioned for continued success in its next chapter.”
“This has been a true partnership built on shared ambition and disciplined execution. We are delighted to see D-Marin begin its new phase of growth from such a position of strength and thank the management team for their exceptional leadership,” Özgür Önder, Senior Managing Director at CVC
Goldman Sachs acted as CVC’s financial advisor, while Clifford Chance advised the group on legal matters. InfraVia’s financial advisor was Morgan Stanley and its legal advisor was White & Case.
InfraVia has consistently demonstrated clear alignment with D-Marin’s customer-first philosophy and our purpose of enriching the yachting experience, and we are well positioned together to accelerate the next phase of our growth. Our partnership with CVC has been instrumental in shaping D-Marin into the business it is today — and the strong foundation they helped build is what powers our next chapter,” said Oliver Dörschuck, CEO of D-Marin