A German-based investment fund will take over high-profile yacht builders Bavaria.
A private equity fund advised by the Berlin-based investment company CMP Capital Management-Partners will acquire the entire business of Bavaria Yachtbau, the German-based builder of motorboats, sailboats and catamarans, and continue operations of the company. It will also acquire all shares in its French subsidiary Bavaria Catamarans SAS.
Bavaria fell into administration in April this year, however, was able to strike a temporary deal to maintain operations to fulfil a sizable order book obtained on the back of new model launches in 2017-18. The insolvency of Bavaria came as numerous management changes in recent years made an inherent strategy difficult. A…
Read the full article at: http://www.theherald.com.au/story/5655920/yacht-builder-bavaria-back-in-business/