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

























Aldo Alessio Regatta - Three days of tight racing by Erik Simonson, Pressure-Drop.US,










Sailing Champions League - which is Europe's best sailing club? by Dan Ibsen & the Sail-World team, Copenhagen


Weta fun at the Wine & Roses Regatta by Bruce Fleming, Santa Barbara
















J/111 World Championships - The Winner is Shmokin Joe! by Stuart Johnstone, Cowes, Isle of Wight












2014 Detroit Cup - Morvan wins by Dobbs Davis, Detroit


Newport Bucket Regatta 2014 -Images by George Bekris
IFDS Worlds 2014 - Final report: USA qualifies for Rio 2016
Extreme Sailing Series: Absent With-Out Leave – Ben Ainslie Racing
2014 IFDS World Championship - New champions claim medals
2014 IFDS World Championships - Sunday’s race images by Tim Wilkes
Shark World Championships underway in Toronto
Anna Tunnicliffe: Alinghi second o'all - Extreme Sailing Series, Day 3
Formula Kite World Championships - Nocher and Bridge crowned Champions
Emirates Team NZ: Frustrating Day 3 in Extreme Sailing Series, Cardiff
Extreme Sailing Series: Light winds help The Wave Muscat - Day 3
Extreme Sailing Series 2014 Act five - Absent without leave – the wind
IFDS Worlds 2014 - Images: Race day five
Herreshoff Classic Regatta 2014 - Images by Ingrid Abery
Youth Olympics - Gold to Argentinean and Chinese Techno 293 racers
Youth Olympics Games Nanjing - Double Youth Olympic Gold for Singapore
Sevenstar Round Britain and Ireland Race 2014 - Two Handers celebrate
Audi Melges 20 U.S. National Championship 2014 - Brazilian dance party
IFDS Disabled Sailing Worlds Day 5 - USA fighting for Rio 2016 Berths
J/111 World Championship 2014 - Day 4: Shmokin Joe consolidates lead
Anna Tunnicliffe: Alinghi on top - Extreme Sailing Series, Day 2
2014 IFDS World Championships - Breezy frustrations   
2014 Detroit Cup - Down to the final four   
Sevenstar Round Britain and Ireland Race - Every finisher's a winner   
2014 49er, 49er FX, Nacra 17 U.S. National Championship - Day 2   
J/24 US National Championship - Will Welles leaps into lead   
J/111 World Championships - Day 3   
Extreme Sailing Series Act 5 – Day 2   
Light wind and a freak storm at Youth Olympic Sailing Competition   
31st Audi Hamilton Island Race Week - Declared 'best ever'   
2014 IFDS World Championships - Aussies on fire   
2014 IFDS World Championships - Saturday’s racing images by Tim Wilkes   
2014 IFDS World Championships - Day 5 images by Jude Robertson   
2014 Audi Melges 20 U.S. National Champ - Day 3 images by Joy Dunigan   
Holt’s 25-year dream comes true with 505 Worlds Victor   
Emirates Team NZ: Collision puts an end to bid for a better day at ESS   
Extreme Sailing Series: Ben Ainslie Racing - mixed results on Day 2   
America's Cup: New brand and image partnership announced with SME   
Extreme Sailing: Tough and testing day on Cardiff Bay - Day 2 + Video   
2014 49er, 49er FX, Nacra 17 U.S. National Championship - Day 1   
2014 J/111 World Championship - Bigger breeze arrives on day 2!   


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