German yacht builder saved from administration by private equity fund.
German yacht builder Bavaria Yachtbau has been bought out of administration by a private equity fund based in Berlin. The manufacturer went into voluntary administration earlier this year and has since been looking for new backers.
In a statement released on the weekend, Bavaria said the investment company CMP Capital Management-Partners will acquire the entire business including all shares in French subsidiary Bavaria Catamarans S.A.S.
All 550 employees of Bavaria Yachtbau in Giebelstadt and all 250 employees of Bavaria Catamarans in Rochefort will transfer to the purchaser which is expected to continue manufacturing operations….
Read the full article at: http://www.marinebusiness.com.au/news/private-equity-fund-buys-bavaria