December 2012 saw Wider Yachts announce its partnership with Tan Sri Lim Kok Thay, a distinguished entrepreneur, who spearheads the Genting Group, one of Asia’s most dynamic conglomerates. The operation secured an increase in capital, which means founder partners, Tilli Antonelli and Paolo Favilla, as well as new partner EXA Ltd. each holds 50% of Wider. The further resources resulting from this operation help the development of the company’s strategic plan, according to the guidelines set down by Tilli Antonelli.
Rendering of superyacht Wider 150 under construction at Wider Yachts
Almost three years after it was founded, and two years after having launched its 42′ yacht, Wider is currently working its way through the steps of its strategic plan. The next stage in its development of high performance, high technology, medium-sized day cruisers is the Wider 32′ yacht tender and the company entered the displacement sector by launching the Wider 150’ superyacht project which construction has started this year. Moreover, during the 2013-1014 nautical season, the presentation of a range of yachts measuring 30 to 50 metres has been planned.
The Wider evolution provides for products created for an exclusive, highly demanding clientèle with extremely high standards of quality, both regards the layout and design. The team flanking Tilli Antonelli will also involve architects and engineers who have made Italian goods famous all over the world. The new units will all be built in Italy and respect the highest tradition of our shipbuilding industry.
“I decided to back Wider as I was impressed both with its course of development and its ability to establish itself on the international market with a completely innovative, technologically cutting-edge product despite the difficult economic situation,” declared Tan Sri Lim Kok Thay. “The choice of investing in a streamlined company, able to respond quickly to market demand in terms of both product and style, is also tied to the acknowledgement of the sheer value of Italian-made goods in terms of technological expertise, innovation and design and the in-depth experience of founder Tilli Antonelli,” concluded Tan Sri Lim Kok Thay.
“I’m extremely honoured to have reached an agreement with such an important entrepreneur, who strongly believes in Wider’s development and know-how, choosing to invest in rather than purchase the company,” declared Tilli Antonelli, President and CEO of Wider. “I also believe that Wider’s values are able to respond perfectly to the increasing development potential of Asian markets, within the sphere of leisure yachting,” he added.
A fundamental part of the agreement is the synergy between Wider’s expertise – in terms of product and of managing international distribution networks – and the resources of the Genting Group, which operates mainly in the tourism and leisure sectors.
The Group boasts a capillary presence on Asian markets, manages 5 companies listed on the Kuala Lumpur, Singapore and Hong Kong stock exchanges and capitalises around 35 billion dollars, employing 52,000 people. Tan Sri Lim Kok Thay also controls the third most important company in the world in the cruise liner business, with Star Cruise (South Asia) and Norwegian Cruise Line (Caribbean).
Whilst Wider was assisted in this operation by KT Finance and Mazzoni & Associati, EXA Ltd. was assisted by Clyde & Co.
Wider, never enough!
