Bavaria yachts sold: 800 jobs se­cured

Practical Boat Owner - - News -

Bavaria Yachts has been bought out of ad­min­is­tra­tion by a pri­vate eq­uity fund.

The yacht builder went into self-ad­min­is­tra­tion in April 2018, and has been look­ing for new back­ers since then. The move al­lowed the firm's man­age­ment to re­main op­er­a­tional while new in­vestors were sought.

In a state­ment, Bavaria said the un­named pri­vate eq­uity fund, which is ad­vised by the Berlin-based in­vest­ment com­pany CMP Cap­i­tal Man­age­ment-Part­ners, has ac­quired Bavaria Yachts and all of the shares in the French sub­sidiary Bavaria Cata­ma­rans SAS.

All 550 em­ploy­ees of Bavaria Yachts in Giebel­stadt, and all 250 em­ploy­ees of Bavaria Cata­ma­rans in Rochefort, will keep their jobs.

The pur­chase will be com­pleted af­ter merger con­trol clear­ance by the Ger­man Fed­eral Car­tel Of­fice, which is ex­pected in a cou­ple of weeks.

Both par­ties have agreed not to dis­close the pur­chase price

CMP Cap­i­tal Man­age­men­tPart­ners is a Ger­man in­vest­ment com­pany that has specialised in the ac­qui­si­tion of com­pa­nies in dis­tress in Ger­many, Aus­tria and Switzer­land since its foun­da­tion in 2000. Re­struc­tur­ing ex­pert and part­ner at CMP, Dr. Ralph Kudla, will join Bavaria’s ex­ec­u­tive board.

The man­ag­ing di­rec­tor of CMP Cap­i­tal Man­age­men­tPart­ners, Kai Bran­des, said: 'We are con­vinced of Bavaria's global mar­ket po­ten­tial and will sus­tain­ably de­velop the com­pany. The re­struc­tur­ing mea­sures will fo­cus on re­gain­ing mar­ket share and im­prov­ing pro­duc­tion costs.

Bavaria's new own­ers will be look­ing at im­prov­ing pro­duc­tion costs

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