Nick Griffith, founder of yacht broker and yacht distributor Ancasta Group, has sold a majority shareholding in the business to Ancasta franchise owner Matthew Shave for an undisclosed sum.
Following the transaction, Shave will assume the role of chief executive officer, leading the company through its next phase of growth.
Griffith will transition to the role of chairman, focusing on strategic oversight and supporting the executive team.
Ancasta Group is a Southampton, UK-based yachting business employing 103 people, with an annual turnover in excess of £50m.
Established market presence
The Group comprises a portfolio of marine companies including Ancasta International Boat Sales, Sanlorenzo Yachts UK, PB Europe, Ancasta Yacht Services, Spencer Rigging and Advanced Rigging & Hydraulics.
Ancasta operates across 22 offices throughout Europe and represents a range of power and sail brands offering services from sales and distribution to refit, rigging and aftersales support.
The transaction marks a milestone in the Group’s development and is aimed at positioning Ancasta to build on its established market presence in both brokerage and new boat sales, while continuing to expand its franchise network and service offering.
Strong reputation
Commenting on the transaction, Griffith said: “I am incredibly proud of what Ancasta has achieved over the past 25 years.
“Matthew is the right person to lead the business forward and I look forward to supporting him in my new role as chairman.”
Shave added: “Ancasta is a highly respected brand with a strong reputation across the marine industry.
“I am excited to take on this role and to work with the team to continue scaling the business, strengthening our partnerships with leading shipyards and delivering high-quality, full-service solutions to our clients.”
