Superyacht builder Oceanco has been acquired by Mohammed Al Barwani, a private investor based in the Sultanate of Oman.

Barwani has interests in oil, gas, manufacturing, and minerals in Europe, the Middle East and Asia Pacific through MB Holding Company LLC as well as investments in other diversified assets.

He has owned a variety of motoryachts and says he is extremely enthusiastic about his new venture.

“I see Oceanco as a great brand. The company offers an outstanding growth opportunity as the world economy recovers. Oceanco’s order book is healthy and the business shows a strong balance sheet.”

Marcel Onkenhout, former deputy managing director of Oceanco, who has been with the company for 16 years, has been appointed as the new CEO.

Oceanco has been building megayachts since 1990 and in 2000 the yard launched the 95m Indian Empress (ex-Al Mirqab)