The US-based investment firm CVC Capital Partners is reported to be working with Goldman Sachs on the sale of marina operator D-Marin.
The sale could fetch as much as €1 billion ($1.2 billion).
CVC originally acquired D-Marin’s Greek, Croatian and UAE businesses from the Doğuş Hospitality & Retail Group in 2020.
The financial terms of the deal were not disclosed at the time.
D-Marin | The Selection of Premium Marinas operates marinas across 26 locations and nine countries in Europe and the Middle East across the Mediterranean and the Gulf.
The business focuses on providing premium marina services with secure berthing, controlled access, and round-the-clock surveillance.
50,000 customers
The service offering also includes the management of 12 boatyards serving more than 2,500 yachts annually.
In addition, the company also provides digital tools and marina infrastructure systems enabling customers to monitor utilities, manage services, and access facilities.
The business generates roughly €70 million in annual EBITDA and serves a high-net worth base of more than 50,000 customers.
According to a report by financial news agency Bloomberg, discussions remain at an early stage and may not result in a deal.
The report also states that CVC is seeking a valuation multiple of roughly 15 times EBITDA, which would place the company’s value close to €1 billion.
Preparations are said to be ongoing with no final decision made.
