Tankoa Yachts Completes Acquisition of Otam Yachts, Uniting Genoa Shipyards
Genoa-based Tankoa Yachts and Otam Yachts have formally combined operations after Tankoa’s purchase of the Otam brand and shipyard. The transaction, finalized by the companies’ owning families, creates a cohesive business operating under the Tankoa banner.
Blending Teams and Traditions
With this acquisition, Otam’s employees—including skilled artisans and administrative staff—will be integrated into Tankoa’s team. Tankoa has pledged to ensure job security and protect Otam’s heritage, while also assessing how Otam’s know-how fits with Tankoa’s future plans. Established 23 years ago, Tankoa focuses on semi-custom superyachts between 55 and 80 meters (180 to 262 feet), built mainly from aluminum. Recent deliveries feature the Loewe, the second model in the T55 Sportiva lineup.
Otam’s Seventy-Year Legacy
Otam originated in 1954 as Organizzazione Tigullio Assistenza Motoscafi, serving as one of Liguria’s pioneering boat storage centers. In the late 1960s, the company shifted towards custom yacht manufacturing, specializing in high-speed wooden boats. The 1980s marked a collaboration with American builder Magnum Marine, enhancing Otam’s skills and stature through roughly 24 joint projects. More recently, Otam has excelled in crafting high-speed yachts measuring 14 to 40 meters (45 to 131 feet), delivering over 100 yachts to clients in the U.S., Latin America, the Middle East, and Europe. The yard recently debuted the Otam 90 GTS, Sexy Me, in 2024 as a testament to its latest achievements.
Consolidation of Shipyards and Looking Ahead
Otam’s Genoa facility, an important site for the brand’s recent deliveries, includes a 10,000-square-meter (107,639-square-foot) marina basin and extensive upland space with several workshops and indoor structures. Through this acquisition, Tankoa will consolidate and restructure these facilities, with intentions to construct new sheds where necessary. Plans also involve requesting additional city-leased land to foster further operational growth.
Marina Management Remains Unaffected
The Otam Pier marina in Santa Margherita Ligure will continue to be owned by its original proprietors and does not form part of the Tankoa purchase.
With this integration, Tankoa Yachts is poised to broaden its manufacturing scope and infuse Otam’s high-performance yacht building know-how, while honoring the traditions and personnel that have come to define both names in the yachting world.
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