BWA YACHTING ACQUIRES SOS YACHTING AND APPOINTS NEW CEO
Monaco 31.01.2024 – BWA Yachting today announced that they had completely acquired SOS Yachting, a multinational yacht charter fiscal agency that recently celebrated its tenth anniversary.
SOS Yachting was established in 2012 to provide fiscal representation services for EU and non-EU yacht-owning companies that charter within European Union territory. They achieved this goal by relying upon over 40 years of yachting industry experience, which allowed them to offer in-house commercial yachting intelligence whilst developing strong working relationships with sector regulators. SOS Yachting was able to cultivate a reputation for quality across the industry – with their fiscal services providing value for businesses throughout Europe and beyond.
To help manage over 600 regular worldwide customers, SOS Yachting established offices in France, Spain, Italy, and Croatia. In 2023, they hope to open a fifth in Monaco – which will allow them to increase their presence in the Mediterranean region and solidify their growing reputation as an industry leader. SOS Yachting emphasises the importance of local support and works to streamline the fiscal components of yachting for each and every client. They combine this with real-time operational guidance and services, making sure their clients are always tax-compliant and can consistently meet local standards while trading their goods or services abroad.
The next Chief Executive Officer of SOS Yachting will be Frédéric Dormeuil – who boasts a wealth of experience in the luxury goods industry. Dormeuil saw the incredible potential of the yachting sector and began cultivating his own reputation to quickly establish himself as a burgeoning expert. With Dormeuil’s in-depth knowledge of the yachting industry from important past roles and an innovative approach, SOS Yachting will be able to reach new heights with ease and continue its goal of revolutionising yacht-based fiscal representation.
“I am very pleased that we have acquired such a successful company. SOS Yachting fits very well with our strategic objective in making life easier onboard superyachts. They simplify the fiscal representation process for their clients, they do so across different territories and that is exactly what we should all be working towards” said Paschalis Patsiokas, Chief Executive Officer of BWA Yachting.
The aim is for SOS Yachting to retain its autonomy, allowing it to function in tandem with BWA Yachting whilst continuing to further develop its own services. This perspective will help SOS Yachting build upon its own past, and recognise new opportunities for growth and evolution throughout the entire industry. With a new CEO at the helm, the company will be able to take stock of its current progress in the sector – and determine a strong, coherent plan for the years ahead. This will allow SOS Yachting to retain its position at the peak of the yachting industry.
Frédéric Dormeuil added: “To be involved in the flourishing sector of yachting is incredibly motivating and what an industry it is; remarkable feats of engineering taking you to the most surreal destinations and like SOS Yachting, includes many distinctive service providers helping make the overall experience the dream-like allure that it is. From its inception, SOS Yachting has understood how to ease the burden of what can be a daunting process and I look forward to evolving the brand’s success and elevating its position in current markets and new ones.”