Please select your home edition
Edition
T Clew Ring New Generic

Oakley Capital to buy North Sails Europe -merge with Norths Sails USA

by Sail-World Europe on 2 Jun 2014
.
British investment group Oakley Capital has today announced, it has reached agreement to acquire North Sails Europe A/S and North Sails A/S (together 'North Sails Europe'), the exclusive licensee and distributor for North Sails’ sailing technology and products in Europe and New Zealand. The acquisition is expected to complete on June 30 2014 and will complement Oakley Capital’s March 2014 acquisition of the US based North Technology Group.

'We are delighted to be backing an iconic brand like North Sails,' said Peter Dubens, Managing Partner of Oakley Capital. 'The acquisition of North Sails’ European distributor and licensee will allow the company to provide seamless service, products and technology to its clients on a global basis.'

Through the sales, design and sail care teams, the North Sails lofts in Europe and New Zealand have worked closely with America's Cup, Vendee Globe and Volvo Ocean Race teams to help them win on some of sailing’s biggest stages worldwide.

'We are so pleased that North Sails in North America and North Sails in Europe are finally one,' said Tom Whidden, CEO of North Technology Group. 'Thanks to Oakley Capital's investment in North Sails, this common ownership and unified management will allow North Sails to better pool its valuable resources and talent from a worldwide team of sailmaking experts. This single global vision will create synergies and enhance sailors'
experiences throughout the world.'

'Taking a lesson from our time on the water, constant improvement is critical to staying ahead of the competition,' explains North Sails Group global president Ken Read. 'This merger insures North Sails’ ability to improve at a greater rate than ever before. In addition, it ensures North Sails remains at the forefront of sailmaking development. A stronger bond between our teams in North America with our teams in Europe and New Zealand will allow North Sails to take another dominate step forward in more efficient design and manufacturing, as well as a more consistent sales and service approach. It’s an exciting time at North Sails.'

North Sails’ Europe operates sales and services sites in 13 countries and has manufacturing sites in six countries. The European based team will continue to work with clients in a variety of sailing demographics. One Design sailing and sail development will remain critical for North Sails in Europe and worldwide, designing and producing sails for approximately 150 one design keelboat and dinghy classes. North’s patented 3Di and 3DL three-dimensional sail technology will continue to be developed and delivered to thousands of boats each year. Paneled sail manufacturing will also remain at the forefront for both cruising and racing sails across Europe and New Zealand.

'I am extremely happy that Tom Whidden and our team have managed to bring the North American and European North Sails teams together under Oakley Capital’s new dynamic ownership,' said Ib Andersen, Chairman of North Sails Europe. 'The consolidation will enhance North Sails’ capacity to provide the best sails, sail care, and the leading technology in the sailing industry. While we continue to think global, North Sails is now better suited to act local.'

Oakley Capital’s investment in North Technology Group as well as this complementary acquisition of North Sails Europe will assist the management team in growing and further developing the North Sails brand to ensure it remains a leader in the marine industry.

About North Sails Europe A/S and North Sails A/S ('North Sails Europe')
North Sails Europe is the exclusive and distributor for North Sails sailing technology and products in Europe and New Zealand. North Sails Europe was founded in 1995 and operates sales and service lofts in New Zealand, France, UK, Spain, Denmark, Germany, Italy, Sweden, Belgium, Holland, Croatia, Hungary, and Hong Kong as well as operating manufacturing facilities in Denmark, France, UK, Italy, New Zealand and Spain.

For the year ended 31 December 2013, North Sails Europe had revenues of over EUR56m, the majority of which is recurring, being derived from the maintenance of sails and the normal replacement and upgrade cycle. The total enterprise value for the business is EUR30m.

About North Technology Group ('NTG')
North Technology Group originated with worldwide sailmaking leader North Sails in 1957. Founded by Lowell North in a garage in San Diego, USA, NTG has grown into a diverse family of companies serving marine and manufacturing markets worldwide. Each company was built on the principle of delivering advanced performance through superior technology and a commitment to quality craftsmanship and customer service. Other NTG companies include; Edgewater Power Boats, North Cutting Systems, North Thin Ply Technology, and Southern Spars, the industry leader in composite spar and rigging.

About Oakley Capital Private Equity
Oakley Capital Private Equity is an unlisted mid-market private equity fund with the aim
of providing investors with significant long term capital appreciation. The Fund's investment strategy is to focus on buy-out opportunities in industries with the potential for growth, consolidation and performance improvement. The Fund seeks to invest in companies with scale in their industry subsectors, thereby creating a sustainable earnings stream which should command a premium on exit.
Hella Marine - July 2016Lancer Industries - Lasts LongerPantaenius - Fixed Value

Related Articles

Company founders help North Sails celebrate opening of new loft
North Sails NZ celebrated the opening of their new loft on Auckland's North Shore on Friday evening. North Sails NZ celebrated the opening of their new loft on Auckland's North Shore on Friday evening. The move is the fourth for one of New Zealand's top sailmakers, who opened their doors in Parnell's Bradford and Earl Streets in 1978, before moving to Grey Lynn, and then Packenham Street adjacent to Auckland's Viaduct harbour.
Posted on 17 Jul
CNN Mainsail - A year in the life and fun of North Sails' Ken Read
October's edition of CNN Mainsail, the highly respected global sailing programme follows the life of Ken Read. President of North Sails, skipper of the world's most exciting monohull Comanche, TV commentator for the America's Cup, twice Volvo Ocean Race skipper and America's Cup helmsman talks about his life and experiences in this outstanding three segment documentary.
Posted on 28 Oct 2015
CNN Mainsail - A year in the life and fun of North Sails' Ken Read
October's edition of CNN Mainsail, the highly respected global sailing programme follows the life of Ken Read. President of North Sails, skipper of the world's most exciting monohull Comanche, TV commentator for the America's Cup, twice Volvo Ocean Race skipper and America's Cup helmsman talks about his life and experiences in this outstanding three segment documentary.
Posted on 28 Oct 2015
North Sails is Exclusive Clothing Supplier to Emirates Team NZ
Emirates Team New Zealand extends partnership with North Sails Apparel for 35th America’s Cup. Emirates Team New Zealand and North Sails Apparel are have announced that they have extended their partnership for the 35th Americas Cup to be held in Bermuda in 2017. North Sails and Emirates Team New Zealand share a history of success, driven by a strong passion for sailing, technology and innovation.
Posted on 25 Jul 2015
Southern Spars reliability proven once again in Volvo Ocean Race
Southern Spars has extended its congratulations to all teams and sailors involved in the 2014-2015 Volvo Ocean Race. Southern Spars has extended its congratulations to all teams and sailors involved in the 2014-2015 Volvo Ocean Race. As the first race with a one-design rule, this edition will never be forgotten. With the yachts now identical, a premium was placed on sailors and their ability to push their boats for long periods of time. As such, this race saw the yachts, masts and sails, placed under unrelent
Posted on 26 Jun 2015
Southern Spars offer shared rig pull ahead of Coastal Classic
Southern Spars is offering local boat owners the use of their world class rigging facilities at Silo Park Southern Spars is offering local boat owners the use of their world class rigging facilities at Silo Park in the build-up to this year’s PIC Coastal Classic. Southern Spars has set aside the date of September 14 for local boaties to have their mast pulled out, sharing costs of storage and crane hire, dramatically reducing the cost of servicing a mast.
Posted on 19 Jun 2015
North Sails NZ - Top America's Cup sail designer rejoins Norths in NZ
North Sails NZ's loft is producing sails 20 hours a day 6 days a week at the moment, to fulfill our customers' needs. North Sails NZ's loft is producing sails 20 hours a day 6 days a week at the moment, to fulfill our customers' needs. Recent projects that we have undertaken include J Class Sails for 3 teams, TP52 sails for 6 teams (North supply all except 3 boats in the current super series), Sails for JV72, RC44 sails for 3 teams, Mills 62 Sails, and locally, Fred Barrett 35, Crusader Elliott 35ss
Posted on 3 Jun 2015
Southern Spars 'retro-rigged' Wild Oats takes a record 8th line win
The race is the sixth consecutive year in which the first three home utilized masts, booms and ECsix carbon rigging While the 70th Rolex Sydney Hobart Yacht Race was not a record setting edition in terms of speed, the 2014 contest did achieve notable marks along the 628 nm route. For Southern Spars it marks the sixth consecutive year in which the first three across the line utilized masts, booms and ECsix carbon rigging from the company
Posted on 9 Jan 2015
North Technology Group announces acquisition of Future Fibres
North Technology Group (NTG) is pleased to announce the acquisition of Future Fibres by Southern Spars. North Technology Group (NTG) is pleased to announce the acquisition of Future Fibres by Southern Spars. Founded 20 years ago by Tom Hutchinson and based in Valencia, Spain, Future Fibres is a marine industry leader in high performance carbon cables, masts, booms, spreaders and custom components.
Posted on 6 Nov 2014
Cameron Appleton joins North Sails
North Sails is pleased to announce that world-renowned helmsman and tactician Cameron Appleton has joined North Sails. North Sails is pleased to announce that world-renowned helmsman and tactician Cameron Appleton has joined North Sails. Appleton is a key hire within North’s Class Sail Development (CSD) team. His experience and talent across a wide range of classes from Big Boat One Design and Mini-Maxi to Superyacht means Appleton is perfectly placed to take on this new role within North Sails.
Posted on 17 Jul 2014