pennycar9
Well-Known Member
I have just heard, from a very reliable source, that Oyster yachts have been sold out to a French Company. Has any one else heard any thing?
Oyster yachts
- Thread starter pennycar9
- Start date
sailorman
Well-Known Member
Oyster Marine Only, for £70 mil. Property retained By Oyster Property
Gerry
Well-Known Member
Says on their website sold to private UK equity company Balmoral .Richard Mathews to stay on as CEO and Chairman.
Mmn wonder what prompted the sale?
www.gerryantics.blogspot.com
Mmn wonder what prompted the sale?
www.gerryantics.blogspot.com
sailorman
Well-Known Member
he is getting older i guess & made a pile.
still owns foxs + property portfolio
still owns foxs + property portfolio
wotayottie
Well-Known Member
[ QUOTE ]
Says on their website sold to private UK equity company Balmoral .Richard Mathews to stay on as CEO and Chairman.
Mmn wonder what prompted the sale?
www.gerryantics.blogspot.com
[/ QUOTE ]
Top of the market - economy going down - business likely to decline with it - he gets best price selling now.
Personally I always reckon its sad the way that the few Brit entrepreneurs sell out (ultimately to foreign buyers) rather than passing the business on down the generations and growing it like the Germans do. Usually, the "I want a country house and to pretend I'm landed gentry not tradesman" motive though what applies in this case I do not know.
Says on their website sold to private UK equity company Balmoral .Richard Mathews to stay on as CEO and Chairman.
Mmn wonder what prompted the sale?
www.gerryantics.blogspot.com
[/ QUOTE ]
Top of the market - economy going down - business likely to decline with it - he gets best price selling now.
Personally I always reckon its sad the way that the few Brit entrepreneurs sell out (ultimately to foreign buyers) rather than passing the business on down the generations and growing it like the Germans do. Usually, the "I want a country house and to pretend I'm landed gentry not tradesman" motive though what applies in this case I do not know.
Whitelighter
Well-Known Member
oohh, that must have been a tough one. Retain a business that has an unknown future past about 2010 (current order book) oo flog it for £70m while retaining day to day control, input plus a new stady income from the property business.
Seems like good business sense to me....
Seems like good business sense to me....
Jonny_H
Well-Known Member
I had some involvment in my professional capacity with the deal - so can't say too much about it other than confirm what has been said above. Current order book is strong, and as has been stated it is only the Marine part affected.
Jonny
Jonny
wotayottie
Well-Known Member
it will be interesting to see if Westline flog off the business now things are cooling, or whether they build it long term.
tudorsailor
Well-Known Member
[ QUOTE ]
Personally I always reckon its sad the way that the few Brit entrepreneurs sell out (ultimately to foreign buyers) rather than passing the business on down the generations and growing it like the Germans do. Usually, the "I want a country house and to pretend I'm landed gentry not tradesman" motive though what applies in this case I do not know.
[/ QUOTE ]
These comments seem abit harsh
The letter from Richard MAtthews says that none of his family have an interest in the business, plus he had a health scare a few years ago.
He is remaining CEO and chairman for now
TudorDoc
Personally I always reckon its sad the way that the few Brit entrepreneurs sell out (ultimately to foreign buyers) rather than passing the business on down the generations and growing it like the Germans do. Usually, the "I want a country house and to pretend I'm landed gentry not tradesman" motive though what applies in this case I do not know.
[/ QUOTE ]
These comments seem abit harsh
The letter from Richard MAtthews says that none of his family have an interest in the business, plus he had a health scare a few years ago.
He is remaining CEO and chairman for now
TudorDoc
sailorman
Well-Known Member
the final payment would usually have "Strings Attached " ie predicted performance by vendor thats presumably why he is retained as CEO
no performence no £70 mil /forums/images/graemlins/wink.gif
no performence no £70 mil /forums/images/graemlins/wink.gif
Koeketiene
Well-Known Member
Press release
