The UK’s Oyster Marine has been bought by HTP Investments, a Dutch investment firm owned by entrepreneurs Wim de Pundert and Klaas Meertens. The acquisition includes the Oyster Group companies Oyster Marine Ltd, Oyster Brokerage Ltd and Southampton Yacht Services Ltd.
Commenting on the deal Klaas Meertens said, “As investors, we are delighted to have the opportunity to add such a strong and prestigious British brand to our select portfolio of companies and have every confidence in Oyster’s CEO, David Tydeman and the existing management team to take the business forward. For myself and Wim, this is a personal acquisition and a long term investment. We look forward to working with David and the team to develop Oyster’s strategy for the future and build on the success the whole team at Oyster has achieved over the last three years.”
Oyster CEO David Tydeman said, “This is a fantastic opportunity for Oyster, our team of loyal staff and suppliers. HTP Investment’s acquisition is funded by the private funds of its two partners and means that Oyster can look forward to a period of long term stability, doing what we do best – building great sailing yachts.”
Though HTP and Oyster declined to reveal just how much the deal was worth, it is reputed to be between $15 million to $25 million, substantially less than the reputed $110 million Balmoral paid for Oyster four years ago.
HTP acquired Oyster using exclusive funds of the partners Wim de Pundert and Klaas Meertens and is therefore it claims, not subject to any restrictions with respect to the amount invested and the period over which the investment is held. According to HTP it expands the activities of its portfolio companies both through organic growth and further acquisitions, supporting the management in strategic decision making and any required reorganization of the firm’s financial structure. However, as yet HTP Investments has not disclosed details of the new financial structure for Oyster.
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