May 19 2017
In a difficult situation since a few months, due to a strong growth (from 45 to 90 employees and a 18 monthes order book), the Privilège shipyard had contacted various possible buyers, both French and German.
The buyback announced today enables the Company located in the Sables d’Olonne to have the support of a multi-brand international group, which - as of today – was inexistent in the most dynamic market of sailing and yachting, that of catamarans.
German HanseYachts Group continues its external growth and returns to the market of recreational catamarans, with the acquisition of the French shipyard Privilège Marine, and will market now 7 brands of sailboats and motor boats.
Apart from Privilège Marine’s CEO, Gilles Wagner, who will remain in function, all previous shareholders have sold their shares to the German group, which follows the path of its compatriot Bavaria, who bought the French Nautitech 3 years ago.
As part of this acquisition, Privilège will remain an independent brand, benefiting from important synergies, especially in the purchasing, marketing, and industrial process control.
Privilège and HanseYachts share many common features: both build sailboats for owners. High units of range and performance. The site of the Privilège in Les Sables-d'Olonne (France) will be maintained and expanded. The aim is to combine HanseYachts in the series production of sailboats and the experience of Privilège in the construction of catamarans.
As part of this acquisition, Privilège Marine stated that "All units currently under construction at Privilege will be delivered to their owners as expected, and all current models will remain in the catalogue of the shipyard", an announcement capable to reassure the customers of the shipyard.
Gert Purkert, member of the Board of Directors of Aurelius stated on YachtingArt.com : "The market for the high-end catamaran has grown particularly strong in recent years. HanseYachts hasn’t been able yet to participate in this development, because it was simply impossible to manufacture units of this width in its existing production facilities. Over the last few weeks, we have analyzed in detail the shipyard and products of Privilège, and we found that the philosophy and catamarans of Privilège suit us and our business culture perfectly. The Privilège brand is appreciated and recognized, and will complete perfectly the HanseYachts portfolio. The production site of HanseYachts in Greifswald should be from now on involved in the process. We will, for example, manufacture elements of Privilège units that had been subcontracted until today in HanseYachts".
Gilles Wagner, CEO of Privilege, said: "Our mission consists of manufacturing high-end, particularly robust catamarans. Like at HanseYachts, we focus for all units of our shipyard on longevity, design, quality of construction, and ease of maneuvering. Production methods of Privilège and HanseYachts are also very similar. Furthermore, HanseYachts is much more important than Privilège and benefits from a global presence. Our customers, as well as we will benefit from a network of distributors, firmly anchored throughout the world. Therefore, we are very excited to work with HanseYachts".