According to key dealers in Europe, the sale of Bavaria’s boat business by its owners – the private equity companies Oaktree and Anchorage – is well advanced and are being told the sale should complete within a matter of weeks. Bavaria – once one of the global leaders in sailboat production – was placed in administration in April with substantial debt. IBI learned today from sources close to the deal that binding offers from prospective purchasers are due by the end of this week.
The first announcement of the intended sale of Bavaria stated that production would continue until the end of June in order to fulfil existing orders. However, dealers such as Clipper Marine in the UK, who also represent Bavaria in Spain, have been confident enough to place significant forward orders. Clipper alone confirmed it has already ordered 20 boats for forward delivery.
In the small to mid-range powerboat and motor cruiser sector, European-based companies such as Bavaria should benefit from the curtailment of competition of American-built boats due to the 25% import tariffs imposed by the EU last week.