The 34 shareholders of Finland's Baltic Yachts have sold a minority stake in the business to local entrepreneurs Caj-Anders Skog and Jan Fors.

Christer Lill, Jan-Erik Krokvik, Stig Östdahl and Mikael Kasslin, acting on behalf of the present shareholders, said that their main aim was to find new owners from the region. Both Skog and Fors live in Jakobstad, where the company recently opened new waterfront facilities. Baltic's main office and production plant are located in Bosund, around 20km north of Jakobstad.

"Baltic Yachts is a tremendously interesting company with an impressive know-how and a very exciting business concept for future prospects," said Skog and Fors. "But we know it is no easy business and therefore we do this with the greatest and most humble respect for future challenges. We will, as active partners, do our best and we sincerely hope that our input will be of value."

Negotiations have been ongoing for more than a year at Baltic, and the new owners will at this stage be minority partners with the possibility to increase their shares at a later date. A preliminary agreement has already been signed that will see all shareholders owning an equal stake in the company. The deal is expected to be finalised later this month.

"Local ownership is the best thing for us, and I'm sure it will be appreciated by our clients and partners," says Baltic CEO Marjo Keiramo.

Established in 1973, Baltic Yachts builds semi-custom yachts from 15m-20m (50ft-66ft) and full custom yachts up to 61m (200ft).


Superyacht Business, 10 March 2010