Seeking to focus on and invest in the development of its core services of superyacht brokerage and management, the YCO Group is to sell off its Yacht Fuel Services business.
The Group has reached an agreement with World Fuel Services Europe, Ltd. for the sale.
Yacht Fuel Services was founded over 20 years ago as a global fuel provider for privately owned superyachts. It quickly became one of the top suppliers and a global leader in the yacht fuelling business.
The company provides customers with competitive pricing for premium grade yacht fuel, aviation fuel and lubricants. Yacht Fuel Services provides fuel in more remote cruising areas worldwide and offers superyacht credit terms.
World Fuel Services will retain the Yacht Fuel Services brand and key personnel. Customers will benefit from an established global supply and service footprint, in addition to online purchasing with its Bunkerline web-based procurement system.
The sale of YFS forms a part of YCO Group’s stated strategy. Net proceeds of the sale will be used for working capital purposes to expand operations globally and to further enhance YCO’s offering in these areas.