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CVC to acquire D-Marin's marinas business in Croatia, Greece, UAE

Author Iskra Pavlova
CVC to acquire D-Marin's marinas business in Croatia, Greece, UAE Photo: D-Marin

ZAGREB (Croatia), January 16 (SeeNews) - Luxembourg-headquartered private equity fund CVC Capital Partners said on Thursday that its CVC Fund VII has agreed to acquire the Greek, Croatian and the United Arab Emirates (UAE) businesses of premium marinas operator D-Marin from Turkey's Dogus Group.

The transaction is still subject to relevant governmental approvals, CVC Capital Partners said in a statement without revealing any financial details.

"As our first investment in the sector, we have been attracted to D-Marin given it is a geographically diversified operator of well-invested premium marinas in the Mediterranean and the UAE," Istvan Szoke, partner at CVC Capital Partners, said in the statement.

"Using CVC's global network and experience in growing companies internationally, we intend to create the leading global premium marina operating company through both organic growth and acquisitions," Szoke added.

Istanbul-headquartered D-Marin operates under concession or management agreements premium marinas in Croatia, Greece, Montenegro, Turkey and the UAE. All marinas in Turkey will remain under the ownership of Dogus Group and will continue to be managed by D-Marin.

D-Marin entered Croatia in 2009 by acquiring Sibenik-based marina Mandalina. In 2012, Dalmacija, the largest marina in Croatia, and Borik joined D-Marin's portfolio.