sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery

 

Sail-World.com : Matthews sells Oyster Marine

Matthews sells Oyster Marine

'Oyster 49'    .

Richard Matthews is expected to sail away with a cheque for at least £50m from selling Oyster Marine, the luxury British yacht maker he founded 35 years ago. But, Matthews has declared that he will continue as chairman and chief executive of Oyster and also retain a stake in the company.

The company has been bought by Balmoral Capital, a private equity firm founded by former Credit Suisse First Boston Private Equity executives, Richard Winckles and Alec D’Janoeff, and specialises in controlling investments in mid-market European companies with growth potential.

The equity firm already owns Canados, the Italian maker of 70-foot to 110-foot fly-bridge and sports motor yachts, which it will run separately from Oyster, which sells its 82ft showpiece yachts for about £4m each. This is the latest major yacht maker taken over by private equity following the purchases of Bavaria Yachtbau in Germany last year and of Ferretti of Italy in 2006

Richard Mathews CEO of Oyster Marine -  oystermarine.com?nid=42000  
Richard Mathews commented on the buy-out; “I will be staying on as chairman and CEO, and it will be business as usual for Oyster’s staff. We will maintain our ongoing commitment to providing great service for our owners and continuity to the ‘family’ of key subcontractors who are such an important part of our future.”

“Business as usual means just that,” Whitman said, when asked to elaborate upon Matthews’ statement. “Balmoral are looking to Oyster’s existing management team and staff to run the business in the same way that we have been, which has proved very successful over the last 34 years.”

Besides the Oyster Marine offices in Ipswich, and its Newport Shipyard at One Washington St., the transaction includes the associated businesses of Oyster Brokerage and Southampton Yacht Services. It also owns the Fox marina, a used Oyster yacht brokerage and a chartering business.

Overall Oyster employs about 130 people and generated revenues of more than £50m last year. They outsource much of the manufacture of their yachts to suppliers, focusing mostly on design, direct sales and marketing, selling 30-40 yachts a year.

The company reports having had a 'very active London Boat show, with enquiries substantially ahead of last year for new yachts and for the expanding fleet of Oysters available for charter.” Presently the company is building two new super-yachts measuring 100ft and 125ft, which are being built by the RMK shipyard in Turkey, belonging to the Koc Group. They are expected to be ready for delivery by 2010 and 2011 respectively.

Oyster Marine website: www.oystermarine.com

Balmoral Capital website: www.balmoralcapital.com




by Susan Baird / Sail-world.com/uk

  

Click on the FB Like link to post this story to your FB wall

http://www.sail-world.com/index.cfm?nid=42000

10:02 AM Wed 20 Feb 2008 GMT






Click here for printer friendly version
Click here to send us feedback or comments about this story.

Click for further information on
Yachting News

Related News Stories:

05 Jan 2013  The yacht club with no water.
11 Jun 2012  Yacht Club of Monaco-'New clubhouse new horizons,' says Prince Albert
11 Apr 2012  Yacht Club celebrates fifty years
25 Jan 2012  European Yachts of the Year: Beneteau, Oyster, Pogo and Esse
28 Jun 2011  What, actually, is a superyacht? Australia ponders
04 Jun 2009  OBE for Sailing Team Manager Stephen Park
03 Jun 2009  Leaders of world’s premier yacht clubs 'in the same boat'
01 Jun 2009  UK boat builders feel the stress
30 May 2009  Sailing Clubs named as Olympic Pre-Games Training Camp venues
29 May 2009  Queen and Duke of Edinburgh to visit WPNSA
MORE STORIES ...

News - USA and the World











































International Moth Worlds: Rashley ahead as Aussies close in by Mark Jardine / YachtsandYachting.com,




















International Moth Worlds - Mothballed on day 4 + Video by Mark Jardine / YachtsandYachting.com,




Gladwell's Line: A change of direction needed in the America's Cup *Feature
29er North American Championship - Day 1 in Kingston
Red Bull 49erFX: First look at the Olympic sailing venue at Rio
Fuerteventura Kiteboarding Grand Slam - Classic conditions on day 3
NYYC Race Week Part II images by Rolex/Daniel Forster
Drowning or electric shock? What you need to know to help save a life
BIC Techno 293 Worlds 2014 - Day 1
Six Metre European Championship - Blazing sunshine on opening day
National Sailing Hall of Fame to present Lifetime Achievement Award
International Moth Worlds: Greenhalgh and Rashley tied at the top
PWA Pozo World Cup - Fantastic finale determines winners
Six Metre Class British Open Championship - Llanoria and Valhalla win
Anna Tunnicliffe set to compete at the CrossFit Games
America's Cup: Oracle Team USA holds foiling camp at Wangi SC
Volvo Ocean Race: Abu Dhabi OR completes double Atlantic crossing
Volvo Ocean Race: Team SCA has a 'pull through day' off the Canaries
No tiller sailing - how to steer using just the sails + Video
International Moth Worlds: Three bullets in a row for Greenhalgh
U.S. Junior Women’s Singlehanded Championship - Sophia Reineke wins
BIC Techno 293 Worlds 2014 - Day 0 Opening
Fuerteventura World Cup - Slalom action highlights day 2   
2014 Governor's Cup - Sam Gilmour of RFBYC victorious again   
Farr 40 West Coast Champ - Skipper Alberto Rossi leads Enfant Terrible   
Flying Dutchman World Championships - Magyars are the Masters   
Final day shakes up standings at Cape Panwa Hotel Phuket Raceweek   
2014 -15 Volvo Ocean Race: Team Alvimedica pushing towards Southampton   
NYYC Race Week - Saving the best for last   
VX One North American Championship - Chris Alexander commands   
2014 Cape Panwa Hotel Phuket Raceweek - Waiting game on Day 3   
International Moth Worlds: Thunderstorms delay racing on Day 1   
Fuerteventura World Cup - Impressive tricks on day 1   
2014 Governor's Cup - Two former winners in the finals   
America's Cup: Iain Murray explains reasons for Australian withdrawal *Feature   
Wilson and Roble remain number one match racers in U.S.   
2014 ISAF Youth Match Racing World Championship - Set to start   
PWA Pozo World Cup - Moreno twins dominate home spot   
ISAF Youth Worlds - Record breaking regatta in Tavira + Video   
Melges 32 European Championship - Robertissima remains out front   
Farr 40 West Coast Championship - Italians take one-point lead   
Melges 32 European Championship - Day 3 images by Carlo Borlenghi   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News







Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png http://www.sail-world.com/event_images/image/FaceBook-icon.png  http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
XLXL NEW US
LocalAds   DE  ES  FR  IT