Fairline Sold

I find this very hard to believe. Duedil doesn't make good reading about either the Wessex Bristol company or the owner. If this is true it looks like Better have just dumped the company if it is correct that they have agreed a "modest deferred consideration". It seems that Better have got somebody else to do their dirty work
 
Deleted User said:
I find this very hard to believe. Duedil doesn't make good reading about either the Wessex Bristol company or the owner. If this is true it looks like Better have just dumped the company if it is correct that they have agreed a "modest deferred consideration". It seems that Better have got somebody else to do their dirty work
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I'm sure BC are glad to be shot of the business but FL does seem to fit in with WB's portfolio so it makes no sense to me for them to buy it just to shut it down. I could see them downsizing the range and operation though.
 
petem said:
I'm sure BC are glad to be shot of the business but FL does seem to fit in with WB's portfolio so it makes no sense to me for them to buy it just to shut it down. I could see them downsizing the range and operation though.
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The sole owner/director, Mr Ayiaz Ahmed, of WB seems to have been associated with upto 15 closed companies according to Duedil. The Wessex Bristol Investments Ltd company seems to have a net asset value of around £350k and about £90k of cash according to the last statement. I leave you to draw your own conclusions. Again I say that I hope this story isn't true
 
Deleted User said:
The sole owner/director, Mr Ayiaz Ahmed, of WB seems to have been associated with upto 15 closed companies according to Duedil. The Wessex Bristol Investments Ltd company seems to have a net asset value of around £350k and about £90k of cash according to the last statement. I leave you to draw your own conclusions. Again I say that I hope this story isn't true
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They also have some active brands and there may not be anything sinister about those closed companies. But I do agree, £90k isn't going to go very far in boat building. I hope my thinking isn't just 'wishful'.
 
When did WB become involved with Fletcher? Cannot see any mention of them as a shareholder or holding co on the latest Fletcher accounts I can view.
 
I can't claim to understand how things like this work but it does seem a bit odd from what people are saying, unless WB are merely a vehicle for a larger better known company, possibly one who build boats in mainland Europe.

I was reading the review of the 53 Targa in MBY yesterday and it struck me that the designers were treating the boat more like a car. It all seemed to be about keeping the boat height low to make it more visually appealing. Whilst this might work with a car where people look at the outside and live with the inside boats are exactly the opposite. Whilst I'm not claiming folk would rush out and buy an ugly boat I'm not convinced it's the number one criteria. Look at Southampton, it was virtually impossible to see the overall look of most boats as they were either up in the air or surrounded by others. What do people do? Step on the back deck and wander inside. Car shows are the exact opposite. People look at the outside and rarely step foot inside.

I think it's 60% interior, 40% exterior for most buyers. A few extreme cases like Hunton exist where the outer styling is everything for for most buyers the inside is key. Reading the comments about having to accept compromises and knowing there were issues I felt the priorities were all wrong. I'm not convinced the designers fully understood the brief handed down from the buying public.

Anyway, we shall see what emerges over the next few weeks and months. Like many others on here I genuinely hope for a positive outcome and feel there is something worth saving.

I would welcome comments from those more well versed in corporate wheeling & dealing to explain how a seemingly under captialised entity might acquire someone like Fairline. To plebs like me it seems impossible.

Henry :)
 
henryf said:
I would welcome comments from those more well versed in corporate wheeling & dealing to explain how a seemingly under captialised entity might acquire someone like Fairline. To plebs like me it seems impossible.

Henry :)
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I'm not an expert either, but the clue might be in the description - sold for a "modest deferred consideration".

That suggests to me that the amount was firstly extremely modest, and secondly deferred, ie they'll only have to pay it if they make some profit at some stage in the future.

I think the more pertinent question (assuming the comment about the aquiring company's assets is accurate) is not how did they buy it, but how will they continue to fund it?
 
ari said:
I think the more pertinent question (assuming the comment about the aquiring company's assets is accurate) is not how did they buy it, but how will they continue to fund it?
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I understood from previous threads concerning F'line that they make an operating profit. Its investing in new models that will be a challenge i suspect.
 
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