Benetti Yachts was founded by Lorenzo Benetti in 1873 and is still based in Darsena, Italy. Several more yacht building facilities have been added since then, including Viareggio, Fano and Livorno. Lorenzo started the Benetti shipyard, but in 1954 Fratelli Benetti focused the business on motor and sailing yachts. Following financial difficulties in 1985, Paolo Vitelli, owner of Azimut, took over the shipyard and it became Azimut-Benetti yachts. There are several different lines of Benetti yachts, which are made from composite materials, alloy and steel. Benetti yachts range in size from 30 meters to 70+ meters for steel construction. The shipyard has been recognized several years running by Showboats International Magazine as the #1 shipyard and Azimut-Benetti was ranked #1 one as well by Yachts International. The Best New Semi-Production Series award was also received for the Benetti Vision series yachts.