Fairline Sold

ari said:
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?
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Same as Sealine was sold, go to bank and borrow it.

Brian
 
a "modest deferred consideration".
I read this as an agreed sharing of the spoils after the site (s) have been disposed of .
Could Oundle do with another Tesco ,B'Q ,retail park or Barrett / Persimmon site ?
Some kit and intellectual property will stay with the buyer ,Thats there reward .
 
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stelican said:
Dreadful shame it seemed to go down hill when Sam Newington left the helm. You have to have a passion for boats to run a boatyard
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But that was general, when I started on switchgear, I talked to Tom Murrant, Sam Newington, John Braithwaite and so on, mainly the owner, but always a man with a passion for the boats he built. In the end it was graduates with no interest in boats, just a job and a tick on their CV, before they move on to pastures new.

Brian
 
halcyon said:
But that was general, when I started on switchgear, I talked to Tom Murrant, Sam Newington, John Braithwaite and so on, mainly the owner, but always a man with a passion for the boats he built. In the end it was graduates with no interest in boats, just a job and a tick on their CV, before they move on to pastures new.

Brian
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Hi
Sam Newington nurtured 2 very highly regarded designers for the Targa and Flybridge ranges both still in the marine business. They worked well together producing almost future iconic boats
 
It was lost since Sam Newington left, I have been saying this since ever.

But what Fairline lost a lot since Sam Newington left is the competitive nature. He was a guy who was overly competitive and always would put a hand across to make a deal done.
I also agree with Halcyon students think they are selling yachts and they can charge whatever they want for a bit of fluff.
 
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.
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I'll tell you what.
Forget Fairline, considering your own expertise and some others available here in the asylum, nowadays we could as well try to arrange a forum LBO targeted at VW AG... :cool:
 
MapisM said:
I'll tell you what.
Forget Fairline, considering your own expertise and some others available here in the asylum, nowadays we could as well try to arrange a forum LBO targeted at VW AG... :cool:
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What a great idea. We' can get JFM to rustle up the necessary paperwork although it's probably all available as a free download :)

If I stick my portion in the pension scheme I think it's tax free as well. Result !


This time next year Rodney......... (Google "only fools and horses" if you don't get the BBC in your country).

Henry. CEO

https://m.youtube.com/watch?v=OxLrsn9ZsiQ

https://m.youtube.com/watch?v=qp5hxHPlTq8

https://m.youtube.com/watch?v=c51GREQxc30

:)
 
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I wonder if SIBS was the final tipping point. Perhaps there was hope for a few orders for the new 53.
 
NGM said:
I wonder if SIBS was the final tipping point. Perhaps there was hope for a few orders for the new 53.
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I stand to be corrected but I believe that this transaction would have been in progress for months. Clearly they would not want to say anything before the show as that could have put people off buying boats from them.

Is this a case of BC removing themselves from blame if it all goes wrong - it would all be the new owners fault?

I do struggle with the similarity between a £20k sports boat (I started with a Fletcher) and a £3m Squadron 78
 
Please feel free to shoot me down but this is the situation as I understand it:

1) As of the end of last year, Fairline were making an operational profit. I assume this remains the case.
2) Despite the doom-mongers (mainly competitors), Fairline's dealers sold boats (without silly discounting) at SIBS.
3) Fairline have successfully moved to a build on demand model and have virtually no unsold stock.
4) The Targa 53 was warmly received by the boating press.
5) Wessex Bristol currently own Fletcher boats and exhibited them at SIBS.
6) At the time of writing Fairline are still operating.
7) Development for the new Squadron 53 is underway with a launch data of early 2016.
 
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