Two Genoa-based Italian yacht builders are now one. The Tankoa Yachts acquisition of Otam Yachts—specifically, the brand and the shipyard—is already final, too, concluded by the respective controlling families.
Under the terms of the agreement, Otam’s craftspeople and employees will integrate into Tanoa Yachts’ staff. Tankoa pledges job continuity and preserving Otam’s history, while simultaneously determining what fits best with its own future focus. The 23-year-old Tankoa largely offers semi-custom superyacht models from 180 to 262 feet (55 to 80 meters) in aluminum. Recent deliveries include the yacht Loewe, the second hull in the T55 Sportiva series.
Otam recently celebrated 70 years of history. It opened its doors as Organizzazione Tigullio Assistenza Motoscafi, one of the first boat storage yards in Liguria, in 1954. It switched to custom yacht construction in the late 1960s, specifically high-performance wooden boats. Once fiberglass took over in popularity from wood in the 1980s, the builder forged a partnership with the American builder Magnum Marine. This broadened its experience and reputation. About two dozen projects resulted, after which Otam returned to focusing on its own customers. Over the past decade, it has concentrated on high-performance craft from 45 to 131 feet (14 to 40 meters), serving clients in the United States, Latin America, the Middle East, and of course Europe. To date, more than 100 vessels throughout that size range have seen delivery, including the first Otam 90 GTS, the yacht Sexy Me (below), a 2024 launch.
Many of those deliveries have come from the Genoa shipyard. The site includes an in-water basin of 107,639 square feet (10,000 square meters) along with nearly as much upland space. Multiple workshops and covered areas are further on site. The Tankoa Yachts acquisition will see consolidation and reorganization of the areas, further adding new construction sheds as needed. Additionally, it will seek concession extensions from the city of Genoa for city-owned property.
Otam also has long operated a marina in Santa Margherita Ligure. Also known as the Otam Pier, it’s remaining in the hands of the owners.
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