Three years after acquiring Telemar Yachting SRL as a wholly-owned subsidiary, CG Telemar SpA has now integrated the Viareggio superyacht electronics subsidiary into the CG Telemar Group as a full operating division under which all of the CG Telemar group’s yachting activities will be consolidated. The new division will retain the ‘Telemar Yachting’ name.
“Since acquiring Telemar Yachting, we have been pleased with their consistent success in difficult global trading conditions,” commented Bruno Musella CG Telemar’s managing director, “This move brings even greater synergies and opportunities for the Telemar group’s success in the superyacht industry.”
The CG Telemar group is a publically traded international company offering maritime electronics, satellite and communications solutions around the world.
“We see this as the confidence CG Telemar has in us as a team,” said Telemar Yachting’s general manager, Andy Gifford, “But we also believe this confirms CG Telemar’s commitment to the superyacht industry.”
Telemar Yachting provides navigation, communication, audio/video entertainment systems, computer integration, security systems and airtime to the world’s superyacht industry.
As a result of the move, Telemar Group employees from other divisions will join Telemar Yachting’s existing 28 staff who now become CG Telemar employees. After remodelling, Telemar’s Darsena (Viareggio) office will become Telemar Yachting’s Sales Office.
“Now our clients have direct access to the full resources of the Telemar Group and can continue to rely on the credibility of CG Telemar’s Balance Sheet and brand,” Gifford went on to say.
Since joining Telemar three years ago, Gifford’s yachting team has delivered AV, airtime, integrated bridge and communications solutions on projects for Perini Navi, Codecasa, Benetti, Azimut, IAG China, Wally, CRN, Arzana Navi, Azimut, San Lorenzo, Oceanco and Westport.
During the same period Telemar Yachting delivered consistent income growth as operations expanded globally. Two years ago Telemar Yachting began operations in China and, earlier this year, Telemar Yachting opened offices in Fort Lauderdale to serve the Americas. After remodelling, Telemar’s new Darsena office will also house the AV and NavCom showrooms from which IT, Security and Airtime will be marketed. A further branch of Telemar Yachting has recently been opened in Ancona on Italy’s eastern Adriatic coast proving onsite support to local shipyards.