Southern Spars and Marten Spars to merge

by Southern Spars on 1 Sep 2006 The Directors and Shareholders of Southern Spars and Marten Spars have announced the merger of their two companies.

The merger will create a combined entity with a staff of 250 better able to compete on the world stage supplying the high quality custom made carbon fibre masts and booms for which both companies are well known. The merger is expected to take effect from September 1st 2006.

The new entity, called Custom Projects, will be one of the business units which comprise the Southern Spars Group. Both existing premises and all staff will be retained.

The merger is expected to result in cost savings through efficiencies in manufacture, better economies of scale and co-ordinated design.

Southern Spars Director Mark Hauser comments 'This is an exciting opportunity for both companies. By pooling resources and harnessing strengths, we acquire the extra capacity needed to grow the business and improve product value and service to customers. Marten Spars has proven itself to be a talented, energetic spar making company. By combining their people and spar making resources with Southern’s, we are creating one of the most dynamic worldwide custom spar making teams ever assembled. It also strengthens New Zealand’s position as a premium supplier of marine components in the international marine industry. '

Southern Spars is known for its design innovations and leading manufacturing processes and has worked on many successful high profile racing campaigns and cruising yacht projects, including Volvo Round the World Race winner ABN AMRO ONE.

Marten Spars also has a very strong depth of experience in manufacturing high quality large super yacht masts and the world renowned Leisurefurl 'furling' booms.

Paul MacDonald, Managing Director and shareholder of Marten Spars will join the senior management team at Southern Spars and will oversee the Custom Projects business. Paul has been involved with the cruising market for 18 years and sailed on the Lion New Zealand Round the World campaign.

Marten Spars Paul MacDonald comments 'it is great to be able to bring these two successful New Zealand companies together in a logical move to better serve our customers internationally. Both businesses have strong order books so our challenge is about satisfying our customer demand. We expect the larger business will provide our staff with additional opportunities for career progression and in the longer term a new facility that will be the most technically advanced factory in the world.'

Southern Spars is backed by the international North Marine Group, a company renowned for investing in leading technology companies.

Background on Southern Spars

Southern Spars was founded in 1989 and is based in Pakenham Street near the Viaduct, Auckland. It employs 180 people and is made up of four business units: Custom Projects, One Design which manufactures high performance production rigs, Composite Rigging (based in Rhode Island) which manufactures lightweight rigging, and Rig Pro service which has four service centres strategically located in USA, New Zealand, South Africa and France.

Background on Marten Spars

Marten Spars was founded in 1988 and is based in Ben Lomond Crescent in Pakuranga, Auckland. It is focussed solely on building large custom, carbon-fibre rigs for super yachts. It employs 70 people. Marten Spars was born out of Marten Marine which had produced the rig for Michael Faye’s ‘big Boat America’s Cup challenger in 1988.’ Since then Marten Spars has focused on the international super yacht industry for the supply of carbon fibre masts and the internationally recognised Leisure Furl boom.