Bain Capital acquires 100% of the shares of the German boatbuilder
German boatbuilder Bavaria has been bought out by private equity firm Bain Capital for a price believed to be in the region of £875m. The acquisition is expected to formally go through on 31 July.
Bavaria builds around 3500 boats a year at its yard in Giebelstadt, Germany, and recorded sales of over £180m in the 2005/2006 fiscal year. It employs about 620 people.
In a statement, Bain Capital said: “In addition to a further strengthening of the Giebelstadt location, it is planned to expand the international dealer network and to open up new attractive markets abroad.”
This isn’t the first acquisition in the marine market for Bain capital, according to industry publication International Boat Industry. The firm already holds an investment in Bombardier Recreational Products (BRP), which is one of the world’s largest producers of PWCs, sportsboats and outboard motors.
