A specialist in business recovery at the helm of Bavaria
The Bavaria Yachtbau group was acquired by the German private equity fund Capital Management Partners (CMP) for a secret amount. The new owner of the German leader in yachting, based in Berlin, is a specialist in the takeover of industrial companies in difficulty in Germany, Austria and Switzerland. This decision puts an end to an uncertainty that lasted all summer. The administrator in charge of Bavaria, appointed in April 2018 following the activation of the protective measures authorised by German legislation, has repeatedly postponed his choice, raising concerns about the future of the yard.
The Bavaria group retains monohulls and multihulls
There have been many hypotheses about the future of the Bavaria group in recent months, each launching rumours according to its own information and interests. While heavy watercraft, Italian such as Ferretti or French such as the Bénéteau group, have been mentioned, it was thought that the entity would be sold "by the cut". The subsidiary Bavaria Catamarans, created by the acquisition of the French shipyard Nautitech, the beneficiary, would have been separated from its ailing parent company. In the end, it was the choice of a block sale that won the day, with the multihull giving value to the sailing and motor monohull activity. CMP takes over all 550 employees at the German site in Giebelstadt and 250 employees at the French plant in Rochefort.
What future for the Bavaria group?
While the activity of the Bavaria Group's boat factories is assured for the coming months, the longer-term future remains unclear. The final signature of the takeover contract must be validated in the coming weeks by the competition authorities. It has received the approval of the pool of creditors. It will now be necessary to find a development policy for Bavaria Yachts. The German shipyard has in the past experienced the difficulty for a non-industrial shareholder to find the expected financial profitability in the nautical world. Will CMP have a logic corresponding to the yachting industry or will the search for a quick profit lead to new difficulties? The only sure consequences of the episode that has just ended are the damage to the image of the Bavaria brand and its boats, after a long summer and the rumours of boat shows...