The Sauerland-based yacht builder Dehler is purchasing the Belgian company ETAP Yachting. The yachts of traditional Belgian shipyard ETAP Yachting are considered unsinkable and are specially designed for the needs of families. The ETAP Yachting production facilities in the Belgian town of Malle and its established brands will be fully maintained and further expanded. It was agreed to keep the purchase price confidential.
ETAP Yachting has an excellent reputation among sailors and an established market position. The family-friendly ETAP yachts are especially safe and excel in terms of quality. The shipyard was founded in 1970 by Norbert Joris in the Belgian town of Malle and has also been producing motor yachts for the last five years. “We are very proud to be taking over this traditional shipyard and this strong brand and are now able to further develop these in cooperation with Dehler”, comments Wilan van den Berg, main shareholder and CEO of Dehler. Dehler will fully maintain, and continue to manage, the established ETAP Yachting brands. All staff will continue to be employed at the current ETAP Yachting site in the Belgian town of Malle.
The merger of the two shipyards offers substantial synergies, particularly in purchasing, marketing, sales and finance. There will be no cost-cutting measures implemented in HR. On the contrary: “We need additional, experienced staff to support further growth”, states van den Berg.
“Like ETAP Yachting, Dehler is a traditional shipyard that produces boats that make any sailor’s heart leap. Since Wilan van den Berg has been on board, the company has developed very positively. We know that ETAP Yachting is in good hands with him”, comments Anne-Marie Joris, President of the Board, on the sale of ETAP Yachting to Dehler.
For Dehler, the involvement with ETAP Yachting marks – only two months after the joining of the growth investor Buchanan Capital Partners – the beginning of the implementation of its strategy to create a powerful group of shipyards, which is targeted at the synergetic collaboration of various brands in dedicated market segments. Exploiting efficiencies will maintain both the brand identity and the respective sites.
Dehler’s consolidation and growth strategy is being financed by the Starnberg-based growth equity investor Buchanan Capital Partners. At the end of November 2007, Buchanan came on board at Dehler within the context of a capital increase. “The merger of the two traditional shipyards, Dehler and ETAP Yachting, will profit both companies. Together with the management behind Wilan van den Berg, we want to create a powerful network of small, boutique shipyards – with the network producing up to 500 high-end boats annually”, explains Peter Blumenwitz, Managing Partner of Buchanan Capital Partners, his strategy for the fragmented sailing yacht industry. “We are more than willing to accompany the successful setting up of a profitable group of shipyards such as this with further equity.”
The new logo of ETAP:
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