CVC Capital Partners is using its €16bn Fund VII to buy the Greek, Croatian and the UAE businesses of yacht marina operator D-Marin from Turkish conglomerate the Doğuş Group.
The Istanbul-headquartered business operates yacht marinas in Croatia, Greece, Montenegro, Turkey and the UAE.
The Turkey-based locations will remain under the ownership of Doğuş Group following the deal.
CVC partner István Szőke said, “As our first investment in the sector, we have been attracted to D-Marin given it is a geographically diversified operator of well-invested premium marinas in the Mediterranean and the UAE.
“Using CVC’s global network and experience in growing companies internationally, we intend to create the leading global premium marina operating company through both organic growth and acquisitions.”
CVC raised €16bn for the final close of its seventh private equity fund focused on North America and Europe, back in 2017.
Last week, CVC’s growth arm sealed one of the biggest investments in the ESG space to date with its $200m backing of supply chain sustainability ratings company EcoVadis.
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