Carey Olsen has advised yacht management services company Sarnia Yachts through its acquisition by private wealth and corporate services provider Praxis.
Sarnia Yachts services include yacht ownership and management, as well as crew employment, management and payroll. The firm has advised yacht owners, trustees, family offices, yacht brokers and lawyers on specialist yacht related matters for more than 50 years.
Praxis is an independent provider of private wealth and corporate administration services to companies, individuals and families across the globe. Following the acquisition, Sarnia Yachts’ employees will join Praxis’ operations across Guernsey, Malta and the UK.
The Carey Olsen team acting for the sellers in the acquisition was led by Guernsey corporate partner Tom Carey and senior associate Melissa Wilkins (pictured).
Melissa Wilkins commented: “Sarnia Yachts has been a key player in the UK, Guernsey and Malta yachting industry and is a hub of expertise, knowledge and experience. Its acquisition by Praxis will widen its range of services, network and support for its clients and we are pleased to have supported Sarnia Yachts in the next stage of its evolution.”
The acquisition is subject to regulatory and competition authority approval.