Oyster Group takes over Landamore's yard

UK-based Oyster Group has announced the take over of the Oyster Yacht division of key partner E C Landamore & Co. The subcontractor has worked closely with the Oyster Group for nearly 40 years, outfitting Oyster yachts.

The deal will see the transfer of Oyster’s Norfolk production facilities, which according to Anthony Landamore has historically been more than 90% of E C Landamore’s business for most of the 40 years, to the Oyster Group, alongside the transfer of approximately 70 employees.

The acquisition has been made possible since the company's recent buyout by Dutch company HTP Investments, explained Oyster Group Chief Executive Officer David Tydeman.

"It's something I have wanted to do for some time but was constrained by the private equity/leveraged debt structure of Balmoral's ownership.

"It was part of the goals set out by me to HTP in the pre-acquisition discussions."

It will also see the Oyster Group develop its standing in the superyacht market,  Tydeman added.

“I am delighted that Anthony Landamore and I have reached this agreement and that Oyster can plan an investment in production in Wroxham, securing jobs in the community."



“Oyster will now rebalance the order book and work loads across the range, focusing on production of the larger models in the Oyster fleet at our wholly owned facility in Southampton, and the smaller models at what is now our wholly owned operation in Wroxham alongside our existing sub-contractors.”

The outlook for Oyster has brightened considerably since its takeover by HTP. Speaking to The Superyacht Report in April, Klaas Meertens, the managing partner of HTP outlined plans for Oyster that include extension of Oyster's reach beyond traditional UK and US markets. The company also recently enhanced its presence in the Med, opening up a new brokerage office in Palma de Mallorca to meet the demands of a growing fleet of Oyster owners choosing to keep their yachts in the Balearics.

Tydeman concluded on the far reaching benefits of the recent acquisition:
“The investment also allows Oyster to develop our custom and refit operation, Southampton Yacht Services, and take the next steps in the superyacht market, developing on the significant success of our partnership with RMK on the Oyster 100 and 125 superyachts, and our history of refitting superyachts at Southampton Yacht Services.”

Related Links

Oyster Group Profile | Oyster Group Website

Landamores Website

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