Yachting News » Business » Sherbiny Family Acquires Monaco-based Althaus Luxury Yachting

Sherbiny Family Acquires Monaco-based Althaus Luxury Yachting

Santocedrus Capital, a family office of a Saudi based Sherbiny family, has completed the acquisition of Althaus Luxury Yachting, a Monaco based superyacht brokerage company. Founded by Eric Althaus, an elite expert in the yachting industry with over 30 years of experience, Althaus Luxury Yachting provides exclusive high-end services and tailor-made solutions for any kind of yachting project.

“We are very pleased to join an exciting journey that Mr. Althaus started more than 30 years ago,” says Majed Sherbiny, CEO of Santocedrus Capital. “Our additional resources coupled with new experienced management and our strong presence in Middle East will help to build the bridge between the capital of yachting Monaco and Middle East, which is the next up-and-coming yachting destination.”

“I am very excited to have the new investors and business partners onboard and starting together a new chapter of Althaus Luxury Yachting,” adds Althaus. “Throughout all my career at the centre of it were always my clients who encourage and motivate me to push the boundaries and never stop progressing. Having a significant presence in the Middle East will not only benefit the local clients, but also bring new opportunities and experiences to our clients outside the Middle East. I cannot wait to welcome you all very soon in our new office in Jeddah, Saudi Arabia.”

Alongside Santocedrus Capital, the partnership of Althaus Luxury Yachting is joined by Marco Ramundo, a seasoned yachting industry professional with over 20 years of experience as well as Vaidotas Melynavicius, the investment director of Santocedrus Capital, who brings extensive experience of international projects management both in Middle East and Europe. Ramundo will join the company as the new CEO, while Melynavicius will be responsible for the business development in Middle East. Althaus will continue his role as the managing partner and senior broker.

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