Sarnia Yachts acquisition completed

Tuesday 11 July 2023

Praxis has bought specialist superyacht ownership and operational services business Sarnia Yachts.

The deal, which was initially announced in mid-May, means the private wealth and corporate services provider has added a range of services to its remit, including yacht ownership, yacht management, crew management, yacht insurance support, and ownership administration and support for family offices on yacht-related services.

Praxis CEO, Rob Fearis, said: "We’re delighted to finalise the acquisition so quickly after the initial announcement, aided by the swift turnaround from the regulator and competition authority.

"Our combined clients will benefit from access to an expanded range of services and this development opens up a wealth of new possibilities for the Group."

Sarnia Yachts’ 22 employees will be joining the Praxis team, and Mr Fearis, has met the entire Sarnia Yachts team across Guernsey, Malta and the UK.

"In addition to our new services we’re welcoming onboard a highly experienced and dedicated team who will provide continuity for clients and bring new expertise to Praxis."

The rebrand to Praxis is expected to complete during the summer.