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Harken employees acquire Harken

by Harken 18 Sep 2020 09:10 PDT
Harken ownership senior management © Harken

"Throughout the years, Olaf and I have been approached by lots of good people interested in acquiring our business. The way we decided was simple. We turned down every offer that didn't present a brighter future for our people than we could create on our own. We started this company to build the best sailing products we could at a fair price. We've had good success doing it, and that makes us proud.

What we might not have anticipated was how much the culture of this place means to its success. My brother Olaf, Art Mitchel, and I tried to build a place where people could take chances and not be afraid to fail. More and more it's our people who have made this place the leader it is. Today, we're acknowledging an ownership change. It's time for those who have worked with us to own Harken.

I've got all the faith in the world in Bill Goggins, who is now CEO; Matt Malec, COO; and John Jensen, our CFO—along with the members of our Executive Committee made up of Andrea Merello, Managing Director at Harken Italy; Adriano Rubinaccio, Director of Operations at Harken Italy; and Stefano Castagna, Director of Global HR. These people we hired and developed have had their hands on the wheel for a while now, and I look forward to seeing them make their marks. I've always said the company is its people, and it's all 400 worldwide that make this place great.

Three years ago when Harken turned 50, someone asked what we wanted Harken to be like when it turned 100. In 2067, we want it to be stronger than it is today. We hope it will still feel like Harken, but it needs to be doing more than we can even dream of today. This transaction is to help make that happen.

To our customers and collaborators: Take nothing about this news based on faith. These corporate announcements always sound like snow jobs. So, don't believe anything about this based on anything I or anyone else says. Just keep checking out Harken products and buy from us until the second you find someone who can do it better—we won't forget how to compete.

As for me...I'm not going anywhere! While the terms of this acquisition allow me to pretty much do whatever I'd like (who are we kidding, I've been doing that for years!), I'll keep coming in because I want to. I like being with the people here...to see what's going on every day, contributing where I can, and serving as a communication and sales ambassador in the field.

To the new owners: Olaf would be very happy today. I wish he was here to see this. But as I told you the day he pa­­­­ssed away: no screwing around, he'll be watching. So will I. It's your watch now. Let's roll!"

Bill Goggins, Harken CEO, said, "We have been preparing for a day like this for our whole careers. We have so much gratitude for Peter, Olaf, and Art for the trust they have shown in all of us. Today we raise our glasses to Peter Harken, Olaf Harken's family, Rose Sorensen, and Art Mitchel. This company will always owe so much to them as our founders. It will always be Peter & Olaf Harken's company, but starting today, it is in our care and custody."

Matt Malec, Harken COO, said, "Historically, Harken has been a place where big things happen in uncertain economic times. We invested in a majority of our production capacity and built our headquarters and major centers of production during the Great Recession of the early 2000s. We've had strategic acquisitions as part of our goals for the last several years. Today, in the middle of this challenging year, we completed our most significant acquisition thus far. We hope there will be more. But today, Harken bought Harken."

John Jensen, Harken CFO, said, "Over the last several years, we've prepared the company financially for a transaction that would shift its ownership. As a finance person, I'm very pleased with what we've done. First as an employee, and now employee-owner, I'm even happier we found a way to assure that as we grow this company it will continue to live its values."

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