Midland boat builder sold in major private deal

A LEADING West Midland boat builder is targeting growth after being acquired in a major private equity deal.

Sealine International, based in Kidderminster, has been taken over by private investors, led by The Oxford Investment Group. The deal, which is undisclosed, was part advised by BDO in Birmingham.

Sealine is one of the ‘Big Four’ leading UK manufacturers of luxury yachts. It designs, manufactures and sells sport cruiser boats between 28ft and 60ft internationally.

Selwyn Isakow, chairman of the Oxford Investment Group, said: “We have been looking to enter the leisure marine sector for some years and it was important for us to find the right business. Sealine has produced some world beating boats in the last five years and their success, with a rejuvenated brand in a difficult market, is a fantastic story.”

Mt Isakow, together with fellow investor Conrad Prebys – a successful builder, real estate developer and philanthropist from California – plan to expand Sealine’s international presence and will be looking to add other marine brands to its portfolio.

Part of the Brunswick Corporation for more than 10 years, Sealine is a leading boat builder, producing several award winning models in recent years.

Dustan E McCoy, Brunswick’s chairman and chief executive officer, said: “We are delighted to be selling to an investor who will continue to take the Sealine story from strength to strength.”

Sealine has recently launched new models the SC42 Sports Cruiser and C48 Coupe. The company regularly exhibits at the Cannes, Southampton and Genoa boat shows.

James Bursey, of the Oxford Investment Group, a marine industry veteran, will be assuming the role of managing director of the new company, which will be called Sealine Yachts Ltd.

The Transaction Services team at BDO Birmingham provided financial and taxation due diligence services in connection with the acquisition.

“BDO was very responsive to our timing and analytical needs,” said Mr Isakow.