Simpson Marine embarks on new journey
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As it celebrates its 40th anniversary in 2024, Simpson Marine is embarking on a new era without Mike Simpson, as the founder retires following the company’s sale to Sanlorenzo. With the core management team and regional heads remaining, expanding across Asia-Pacific is just one of several changes on the horizon.
Words: John Higginson; Photos: Simpson Marine & Shipyards
Simpson Marine staff at the 2024 Thailand International Boat Show
Simpson Marine without Mike Simpson. It will take some time to get used to. The man who founded the company in 1984 and developed it into Asia’s largest yacht dealership has finally chosen to treat himself to retirement after 40 years at the helm, following the sale of his company to Sanlorenzo, owned by his long-time friend Massimo Perotti.
Simpson and Perotti both attended the recent Simpson Marine Group Summit at The Fullerton Ocean Park Hotel in Hong Kong, which doubled as a company handover ceremony and a celebration of the company’s 40th anniversary.
The acquisition by Sanlorenzo has brought a few changes to Simpson Marine – and promises more – but it’s arguably more surprising how much has stayed the same. Simpson Marine remains a regional, multi-brand dealership, despite concluding contracts with Beneteau, Lagoon and Aquila.
Mike Simpson and Massimo Perotti at the Simpson Marine Group Summit
Simpson Marine has represented Sanlorenzo in Asia since 2015 and the Italian shipyard continues at the pinnacle of the dealer’s portfolio, which includes sister brand Bluegame, British builder Fairline, RIB manufacturer Highfield and potentially Nautor Swan if the Finnish shipyard is acquired by Sanlorenzo.
As before, the company still offers its wider suite of services like brokerage, after-sales and yacht management, as well as divisions like Simpson Yacht Charter and Simpson Superyachts.
And, crucially, the company has retained its core management team, which includes Richard Allen (Chief Operating Officer), Nick Stratton (Chief Sales Officer), Angel Zhou (Vice President, China), Ewa Stachurska (Vice President, Marketing and Business Development) and Peter Lui (Chief Financial Officer), as well as James Clayton (Sales Director, Simpson Superyachts).
Luca Cristino, Richard Allen, Ewa Stachurska and Nick Stratton
Around the region, the company’s Country Heads remain in place, comprising Angel Zhou (China), Tom Allen (Hong Kong), Simon Theseira (Malaysia), Paul Whelan (Indonesia), Howard Prime (Thailand), Harvey Brewin (Singapore) and Tony Chen (Taiwan).
Aside from the pruning of its portfolio of new yachts, changes at Simpson Marine include the expansion of its representation of Sanlorenzo and Bluegame from Asia to Asia-Pacific, with an office set to open in Australia this year.
SUITE OF BRANDS
Richard Allen, who has worked at Simpson Marine since 2012, has effectively been handed the baton by Mike Simpson. Since being promoted from Group Sales Director to Group General Manager and now Chief Operating Officer, he has overseen the day-to-day operations of the company as it grew to about 140 employees in 12 offices and service centres across seven countries and regions.
Richard Allen pays tribute to Mike Simpson
“Mike had 40 years at the helm and steered Simpson Marine into the leading position. It’s now my job with my team to set a new course for the next 40 years,” Allen says. “We have a strong, globally established parent company and leader in its market segment, with a clear direction where they want to go, so we’re all looking forward to the challenge and exciting times ahead.”
Following Sanlorenzo’s year-long acquisition of Simpson Marine, Allen has had to manage the sensitive conclusion of long-standing relationships with Beneteau and Lagoon, Group Beneteau sister brands represented by Asia’s biggest dealership since the mid-1980s.
“The ending of our relationship with Groupe Beneteau was a difficult one commercially and personally, as I’ve been working with Beneteau for over 30 years, as has Simpson Marine,” Allen says. “However, in view of the new strategic positioning of our company portfolio, we mutually agreed to part ways as Sanlorenzo decided to concentrate on products in the luxury sector.”
A Sanlorenzo SL96A is among the Singapore Yachting Festival line-up
With Bluegame launching a new multihull line, led by the BGM75 that debuted last year, Simpson Marine ended its representation of Aquila in Hong Kong and Singapore. The dealer will continue to manage the powercat brand in Malaysia and Thailand until new representation has been appointed.
However, Simpson Marine continues to represent Fairline, which it started representing in 2018 in Hong Kong and the Philippines before the scope expanded to the rest of Southeast Asia as well as Taiwan, and later mainland China. Fairline’s range spans from the F//Line 33 to the Squadron 68 flybridge, so fits well with Sanlorenzo, which starts from the SX76.
“Following our acquisition by Sanlorenzo, the decision was made to work with only leading brands in each market segment that complement each other. We wanted a brand that fills the largest segment of boat sales in Asia, which is 45-70ft, and Fairline continues to fit this perfectly,” Allen says.
Bluegame’s flagship BGX73 is also set to show in Singapore
“With its recent investment, new model launches and product development, Fairline complements Sanlorenzo. It’s one of the leading motor yacht brands, with over 50 years of history and well recognised globally.”
At least one world-famous brand seems likely to be joining the Simpson Marine portfolio, according to Allen. Following the announcement of Sanlorenzo’s signing of an MoU with Nautor Swan at the end of last year, he says he “expects to be working with this prestigious yachting brand in the near future”.
Ultimately, Simpson Marine is seeking to represent brands of the same premium quality and high-end positioning of Sanlorenzo. “We’re exploring a few other brands in various product segments and markets, but for now we’re concentrating on the luxury segment,” Allen outlines.
Fairline’s flagship Squadron 68
“Our focus is now on less but better. We don’t need to sell the most boats but to provide the best customer experience and a truly carefree yachting lifestyle. We want to help our clients on their journey into their first yacht and stay with them as they enjoy the yachting lifestyle. This can start from a first charter to potentially buying a yacht or finding a used yacht and starting their yachting journey.”
EXPANDING OFFERINGS
Simpson Marine is not only Asia’s biggest yacht dealership but its most experienced and arguably most multi-faceted. In 2013, Allen established Simpson Yacht Charter, which has grown to become a well-recognised charter company offering a range of boats across Asia from its bases in Hong Kong, Singapore and Thailand.
Allen says there are plans to grow Simpson Yacht Charter, while simultaneously developing superyacht charters in Asia and beyond by building on Sanlorenzo’s acquisition of Equinoxe in late 2022 and the expansion of the mono-brand Sanlorenzo Charter Fleet.
The 44X-Space is a 495GT addition to Sanlorenzo’s Superyacht range of metal yachts
Simpson Marine has been increasingly focused on superyachts since representing Sanlorenzo. After many years of discussion and plans, Simpson Superyachts was launched as a business in 2022, with James Clayton now heading the division as Sales Director.
Clayton, who spent the first 15 years of his life in Malaysia and Singapore, has worked in the yachting industry for over two decades. He has held roles with Benetti and US brokerage Merle Wood & Associates, worked in Europe and the US, and sold several superyachts in Asia, where he has returned for his latest role.
“Superyacht sales require a special skillset and an international network, and James has brought those to Simpson Superyachts. He and the team have already managed a number of superyacht sales and superyacht charters,” Allen says.
James Clayton, Sales Director, Simpson Superyachts
“This segment is going to grow throughout the region. With our expansive network and links with Sanlorenzo and other large superyacht builders, we see opportunities to make Simpson Superyachts global over the coming years.”
ASIA TO ASIA-PACIFIC
Nick Stratton has been the Sales Manager for Sanlorenzo Asia since 2017 and Bluegame Asia since 2020. As well as his promotion to Simpson Marine’s Chief Sales Officer, overseeing all new yacht sales, he wears a second hat as Vice President of Sanlorenzo Asia Pacific.
With Simpson Marine now handling a larger regional scope for both brands, the Brit will help oversee the move into Australia and New Zealand, while targeting growth areas in Asia.
Nick Stratton, Chief Sales Officer, Simpson Marine
“Simpson Marine and Sanlorenzo have always been well aligned in representing the brand for the region. This led to the expansion into all of Asia-Pacific, which allows us to offer a consistent, high-end service to all markets, centrally managed and supported from our regional head offices,” says Stratton, who has worked for Simpson Marine since 2010, first in Singapore then Hong Kong.
“Sanlorenzo and Simpson Marine are partners for a reason – the best brand with the best representation and local presence. It’s a winning combination that will continue to grow in strength. With a refined focus, our team will become stronger and more knowledgeable, and this will benefit our existing and future owners.”
Last year, significant arrivals in the region included the Sanlorenzo SD118, which has further orders from Asia-Pacific and is sold out until 2026. The first SL106A in Southeast Asia was delivered, adding to multiple units of the SL90A and SL96A asymmetric models already in Asia.
Sanlorenzo SX100
Sanlorenzo Asia has more than 20 orders in build, with a 44m Alloy, SP110 (Review, Issue 68), SX100 (Review, Issue 75) and SD90 (Review, Issue 70) among models expected to be handed over this year. The Asia fleet will be close to 100 units when the hulls in build are added to the yachts already in the region.
Hong Kong and Singapore have been the main delivery hubs, while mainland China, Thailand and Indonesia are also key markets. “We’re expecting strong growth in Southeast Asia, which is already the strongest hub for Sanlorenzo Superyacht models from 40m upwards,” Stratton says.
Simpson Marine also plans to continue organising the Captains Workshop, held for the first time last year. Dedicated to captains and crews, the three-day event was supported by Sanlorenzo as well as local manufacturers and suppliers.
Simpson Marine has a strong focus on service, management and crew
“Investing in our teams is crucial as the yachts grow in size and sophistication. We must constantly improve, so it’s important to invest in the training and development of the people working in the industry,” Stratton says. “The first Captains Workshop was amazing – even if we were slightly overwhelmed by the attendance – so we’re planning future editions including in Southeast Asia.”
ITALIAN CONNECTION
A notable change following the acquisition is the appointment of Luca Cristino as Chairman of Simpson Marine. Based in Italy but expected to visit Asia regularly, Cristino has known Perotti since 1994 after being interviewed by him for a job at Azimut-Benetti Group, where he spent over two decades in different roles, while Perotti went on to acquire Sanlorenzo in 2005.
Cristino has spent the past four years as Sanlorenzo’s Vice President of Sales & Marketing after again being hired by Perotti, who also offered him the new role as Simpson Marine’s Chairman. Despite his lofty new position, the Italian is quick to tip his hat to the man who has been the face of Simpson Marine since its inception.
Luca Cristino, the new Chairman of Simpson Marine
“I took on this role because I like adventure and challenges, and what better option than Simpson Marine, which is a brand recognised not only in Asia but worldwide,” says Cristino, an avid skier since growing up in the Italian Alps. “It’s remarkable what Mike Simpson and his team have achieved in the past 40 years.”
Cristino has spent much of his yachting career in sales but also managing relationships with dealer networks, so has embraced the opportunity to move to “the other side”.
He appears well qualified to oversee a multi-faceted company as his three decades in the industry have included a wide range of roles covering service and refit, insurance, finance, design services, showrooms, marinas and superyachts.
Cristino has also witnessed the dramatic growth of Sanlorenzo first hand, having briefly worked there in 2010, five years after Perotti acquired the company. He remembers the yacht builder generated around €200 million in annual revenue and had about 200 full-time employees when he first worked there.
Sanlorenzo has multiple facilities in Italy
Fast forward 14 years and the company has quadrupled in size, announcing €840.2 million of net revenue from the sale of new Sanlorenzo and Bluegame yachts last year. Manufacturing is carried out in shipyards in La Spezia, Ameglia, Viareggio and Massa, all located within a 50km radius, and the company has about 800-1,000 employees and works with thousands of contractors.
“The difference between Sanlorenzo when I first worked there and now is unbelievable. The company is in a totally new dimension,” Cristino says. “Most of it comes from the vision of Massimo, who saw the potential of Sanlorenzo’s DNA, a focus on customisation. Rather than fostering his previous experience, Massimo focused more on close with top designers, tailor-made products and exclusivity of the brand.”
When Perotti acquired Sanlorenzo, the shipyard offered the traditional SL line of planing yachts. Among composite yachts ranging from 24-38m, he has added the SD (semi-displacement), SX (crossover) and SP (smart performance) ranges.
He has also introduced Superyacht models from 40-73m in steel and aluminium, while also acquiring Bluegame, which builds from 13-23m, in a bid to provide a wide range of yachts to attract and retain clients.
Sanlorenzo SX76 in Thailand
“Massimo identified that the customer is always at the centre of attention. When the client visits the Sanlorenzo shipyards, everything revolves around them,” Cristino says.
“The attention to the client permeates through the whole organisation – not just the sales and marketing departments but also production and technical departments and product managers. Clients appreciate this. The mantra is ‘we start the journey together’ and this continual relationship makes them loyal to Sanlorenzo.”
Simpson Marine has already delivered about 45 Sanlorenzo yachts just in Hong Kong, which stands as the brand’s leading light in the region but also an example of what can be achieved. Singapore is another key hub, while Cristino cites Thailand and Malaysia – which has been through a period of political instability – as having “huge potential”.
Asia’s largest yacht dealership, Simpson Marine is now expanding across Asia-Pacific
As Simpson Marine embarks on its new chapter, without its founder and under Sanlorenzo’s ownership, the region’s largest yacht dealership is set to spread its wings across Asia-Pacific, from Japan down to Australia, with Simpson Superyachts potentially reaching around the world.
“The company is working very well, so we just want to keep building on what Simpson Marine has been doing,” Cristino says. “Hong Kong and Singapore have been our two main hubs, but we see potential for strong growth in other areas of the Asia-Pacific.”
