AL T. MARINE ELECTRONICS LLC, the Lake Worth Marine Electronics firm is to join Italy-based Telemar Yachting www.telemar-yachting.com, part of the Italian Shipping Group CG Telemar www.telemargroup.com and become "Telemar Yachting the Americas" based in Fort Lauderdale.
"The opportunities for synergy are tremendous so it's a great opportunity to grow; for us it's a natural fit, giving us international scope not only in the yachting industry but also commercial vessels," commented Al T.'s General Manager Kirsten Tarafa. "Just as important though, we're joining a solid team we have worked with for years who themselves are part of a global group with solid resources."
One of the most successful marine electronics service companies in South Florida, Al T. Marine Electronics is Telemar Yachting's long-term US agent. Founded in 2007 by Al Tarafa, the company serves superyachts in the Americas, Caribbean and Asia. "I am pleased to be taking this important step with my long-time colleague, Andy Gifford, and the rest of his team and look forward to growing our company together," said Al Tarafa, Managing Member of Al T. Marine Electronics.
"We are very pleased that in this economic climate, this next step in our own global strategic plan could be with a company and, more importantly, with individuals whom we know so well," said Telemar Yachting's General Manager Andy Gifford.
Telemar Yachting is a Viareggio-based Integrated Marine Electronics Specialist providing Navigation, Communication, Audio/Video Entertainment systems, Computer Integration, Security Systems and Airtime to the superyacht industry.
The acquisition of AL T. Marine Electronics will come as Telemar Yachting expands simultaneously into both the North American and Chinese superyacht markets from its European base.
The transaction is subject to due diligence by Telemar and is scheduled for closing before 1 January 2010.
Al Tarafa has over 30 years experience in marine electronics, and is a NMEA Certified Marine Electronics Technician (Senior CMET). Kirsten Tarafa worked as a maritime attorney before joining her husband in the business in 2008. Telemar Yachting is part of the Italian CG Telemar Group, the largest marine electronics company in the Mediterranean specialized in commercial shipping with over 2,000 vessels under contract and more than EUR 90 million in annual revenue.