Private equity firm CVC has agreed to sell the Mediterranean yacht marina operator D-Marin to French investment firm InfraVia for more than €1 billion, marking one of the largest transactions in the expanding yachting infrastructure sector. The deal, announced yesterday, reflects the rising demand for premium marina berths driven by a surge in boat ownership and the limited capacity for new marina developments in key yachting regions.

D-Marin, based in Athens, operates 28 marinas across the Mediterranean and other markets including the United Arab Emirates, managing a total of approximately 14,300 berths, typically leased on an annual basis. The Mediterranean region accounts for about 70 percent of global yachting activity, with berth waiting lists often exceeding a year, according to consultancy firm McKinsey. This supply-demand imbalance has underpinned strong investor interest in the sector, attracting other major players such as Blackstone and Stonepeak.

CVC acquired D-Marin from Turkish conglomerate Doğuş Group in 2018 for roughly €200 million. Under CVC’s ownership, the company expanded into new geographic markets and significantly grew its revenue, now serving over 50,000 customers annually and managing 12 professional boatyards. CVC managing partner István Szőke described the transformation as turning a “hidden gem into the clear market leader in premium marinas across Europe and the wider EMEA region.”

D-Marin’s chief executive, Oliver Dörschuck, highlighted the structural factors driving growth, noting the continuous inflow of new boats in the Mediterranean amid stringent regulations that restrict marina construction. “There is a structural supply-demand imbalance,” he said, emphasizing the challenging regulatory environment and limited ability to increase berth capacity.

McKinsey’s recent analysis projects the global marina market, valued at $15 billion, to expand at an annual rate of 8 percent through the end of the decade. With an estimated 210,000 yachts worldwide and just 160,000 available berths, the market is poised for ongoing consolidation and investment.

InfraVia, which specializes in infrastructure and real estate investments, intends to continue D-Marin’s expansion according to its chief executive, Vincent Levita. Financial terms of the deal were not publicly disclosed but sources familiar with the transaction valued the company between €1 billion and €1.5 billion, indicating a substantial return for CVC.

Goldman Sachs and Clifford Chance advised CVC on the transaction, while Morgan Stanley and White & Case represented InfraVia.