Bavaria yacht construction
| Bavaria Yachtbau GmbH
|
|
|---|---|
 |
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| legal form | Company with limited liability |
| founding | 1978 |
| Seat |
Giebelstadt , Germany
|
| management | Jens Abromeit COO, Ralph Kudla CRO / CFO, Michael Müller CEO |
| Number of employees | approx. 525 (2019) |
| sales | 124 million euros (2010/11) |
| Branch | Shipbuilding |
| Website | www.bavariayachts.com |
The Bavaria Yachtbau GmbH is the biggest sports boat yard for sail and motor boats in Germany, based in Giebelstadt , Bavaria . The company employed up to 600 people in Giebelstadt, but has been struggling with economic difficulties since 2008. Up to 1200 motor and sailing boats can be manufactured annually on a yard area of 200,000 m² with a covered hall area for the production of 70,000 m².
Company history
The company was founded in 1978 by the window manufacturer Winfried Herrmann and the yacht charter broker Josef Meltl. In 2006 it employed 600 people and produced around 3500 sailing and motor yachts. This made Bavaria Yachtbau one of the largest yacht building companies in Europe and the largest series shipyard in Germany. The company is one of the three world market leaders in yachts from 30 to 55 feet.
In June 2007, the US financial investor Bain Capital took over the company from the founders. No information was given about the purchase price; according to press reports, it was between 1.1 and 1.3 billion euros and was largely financed by borrowing from the company. In the course of the economic crisis, the company's turnover in 2008 and 2009 fell from over 250 million euros to around 90 million euros. In October 2009, after a debt cut, Bain Capital handed over control to the US hedge funds Anchorage Advisors and Oaktree Capital Management , which each took over 45 percent of the shares.
In December 2010, a contract was signed to take over the Italian shipyard Cantiere del Pardo with the two brands Dufour and Grand Soleil. This should create additional pillars in Italy and France. In spite of the new models, the production capacity was only 30 percent full at that time, and the annual target was stated to be 1200 boats. It was also announced that the Grand Soleil brand, which had been taken over two years earlier, would be sold again. In July 2014 Bavaria Yachtbau took over the French catamaran manufacturer Nautitech Catamarans. With this, Bavaria, the world's second largest manufacturer of sailing and motor yachts, expanded its product portfolio of monohull yachts to the growing market for catamarans.
On April 20, 2018, the company filed for bankruptcy, with production initially continuing as part of a provisional self -administration. In October 2018, Capital Management-Partners GmbH (CMP) officially took over Bavaria as the new financial investor. Since April 2018, the insolvency administrator had a new investor for Bavaria Yachtbau GmbH and Bavaria Catamarans Srl. (Rochefort / France) wanted. Only at the last moment before the shipyard finally ended, the purchase contract was signed with CMP in mid-September 2018.
Model range
The model range includes sailing yachts , motor boats and, since 2014, catamarans . Although Bavaria Yachtbau started out as a sailboat manufacturer, motor boats are also very common today. Bavarian yachts are widespread as typical charter yachts in the middle class segment due to their good-natured sailing characteristics and the low-cost provision price for cruising sailors .
Bavaria C45
Bavaria R40 fly
Bavaria Nautitech 40 open
Bavaria 49 at anchor in Croatia
Loss of the keel of a Bavaria Match 42
In 2005 a Bavaria Match 42 lost the keel in the Adriatic Sea. One person was killed. The technical cause of the accident remains unclear to this day. Bavaria Yachtbau took legal action against parts of the coverage of the incident in the magazine Der Spiegel and in the specialist magazine Yacht . However, the shipyard was only able to partially decide on the relevant procedures. In addition, the yacht magazine has been boycotted by the shipyard.
Subsequently, on the initiative and expense of the shipyard, the construction of the keel suspension was reinforced on ships of the same type.
Web links
- www.bavaria-yachtbau.com - Homepage of Bavaria Yachtbau GmbH
Individual evidence
- ↑ Group sales 2010/11 of Bavaria Holdings GmbH, Giebelstadt; Consolidated financial statements filed at www.unternehmensregister.de
- ↑ Florian Langenscheidt , Bernd Venohr (Hrsg.): Lexicon of German world market leaders. The premier class of German companies in words and pictures . German Standards Editions, Cologne 2010, ISBN 978-3-86936-221-2 .
- ↑ Renouncement of millions: US hedge funds discharge Bavaria Yacht. Press article dated October 4, 2009. FTD, archived from the original on October 6, 2009 ; Retrieved April 18, 2013 .
- ↑ Bavaria Yachtbau takes over Dufour and Grand Soleil ; motorboot24.com, December 8, 2010
- ↑ Dieter Wanke / Walter Wille: A lot invested, heavily speculated , FAZ.net from August 17, 2013.
- ↑ Bavaria & Nautitech , yacht.de, July 28, 2014.
- ↑ http://www.yacht.de/aktuell/panorama/bavaria-yachtbau-vor-dem-aus/a116720.html
- ^ Franconian boat builder Bavaria Yachts files for insolvency , Süddeutsche Zeitung, April 20, 2018
- ↑ The new line at Bavaria . Retrieved February 12, 2019.
- ↑ Bankruptcy has been averted . Retrieved September 16, 2018.
- ↑ Test report on Bavaria 50. (pdf) In: Seglerzeitung 4/2005. Archived from the original on September 29, 2007 ; Retrieved November 18, 2015 .
- ↑ Bavaria comments on the loss of the keel . May 6, 2005. Retrieved January 14, 2017.