Business to be acquired by its east-coast Australian builder partner, Yamba Welding & Engineering

The directors of Naiad have announced that the business is being sold to its east-coast Australian builder partner, Yamba Welding & Engineering. The sale will not affect the current business arrangements that Naiad currently has with its international and domestic builders and the Naiad design, sales and support staff will remain located in Picton, New Zealand. The owners of Yamba Welding have a strong commitment to grow the Naiad business.

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Naiad

Picton, NZ-based builder to be sold to its east-coast Australian builder partner, Yamba Welding & Engineering

The relationship between Naiad and Yamba Welding has gone from strength to strength since Yamba’s appointment as a licensed builder in 2011. Together they have achieved significant sales to various federal and state government agencies as well as a good cross-section of commercial and rescue agency business.

Yamba Welding employ 36 staff at its yard in the coastal town of Yamba, northern NSW. It has been in business for 45 years, under the ownership of Bill Collingburn, a well-known and highly respected marine industry figure. Its commitment to quality and customer service has seen the business become one of Australia’s leading aluminium boatbuilders.

This acquisition will allow for the retirement from full-time activity of founder Steve Schmidt and his wife Jenny. Steve will continue on in a part-time design consulting role. Over recent years Steve has been working closely with the design team passing on his huge knowledge and experience. This ongoing role will ensure that handover activity continues.

John Cowan, who joined the company in 2005, will continue for an indefinite period in a transition role to a soon-to-be-appointed general manager. All three of Steve, Jenny and John are committed to ensuring a smooth and successful handover.

Naiad has achieved international success not only in Australia, but also in China and USA. Yamba Welding will continue to grow these relationships established by Naiad in these markets. There will also be no change to the arrangement with Naiad’s Australian west coast builder Kirby Marine, who over the last 20 years have built 250 Naiads for police, fisheries agencies, tourist operators and rescue agencies, as well as the stunning high-end recreational boats they are probably most famous for.

The sale is scheduled to finalise on 31st March 2020, with business continuing very much as usual.