July 9, 2019

HanseWorld number two yacht builder HanseYachts AG of Greifswald is buying French luxury catamaran yard Privilège Marine SAS from its majority shareholder AURELIUS. 

Privilège was taken over by AURELIUS in June 2017. HanseYachts AG then bought the moulds of the existing yachts from the new owner and secured the marketing rights as well as the use of the brand. In addition, a consulting and purchasing agreement was concluded so that HanseYachts AG could transfer its series boatbuilding skills and the resulting sales opportunities to the renowned French shipyard. 

"After a dry spell, Privilège is about to break even,” says Dr Jens Gerhardt, CEO of HanseYachts AG. “This is the ideal time for us to take over the company completely and expand our multi-brand strategy. Privilège has a healthy order book of more than 25 million euros. The catamaran market remains attractive, it is the fastest growing of all global sailing markets and has doubled in less than 5 years. With the acquisition of Privilège, we are increasing our capacity by more than 30 million per year, giving further impetus to our long-term growth course. We also expect some uplift from the effects of synergy and the broader distribution network of HanseYachts AG. Privilège`s existing debt towards the previous shareholders will promptly be paid in full by issuing new shares, whereby the HanseYachts AG furthermore will be strengthened. In order that our existing freefloat shareholders won`t be diluted through this measure, we offer a cash capital increase with the subscription right by 1 to 9.” 

Privilège has been a market-leading manufacturer of luxury catamarans for more than 30 years, and produces sail and motor yachts. In addition to producing excellent oceangoing yachts, the focus has always been on offering custom designs options. Last year, three new catamaran models were announced and marketed simultaneously under the leadership of HanseYachts AG, to drive the brand towards a successful future: The power catamaran Euphorie 5 which favourable consumption attracts long-distance skippers as well as the Privilège 510 and 580, combining luxury with bluewater sailing. 

Privilège now totally benefits from the worldwide distribution network of the HanseYachts AG with its 230 dealers in 90 countries and the purchasing power of Euro 150 millions in overall sales. 

The catamarans will continue to be built in Les Sables d'Olonne on the French Atlantic coast, and the existing staff structure of some 150 employees under CEO Gilles Wagner will also be retained. The shipyard covers an area of 25,000 m2 with production halls of 15,000 m2, direct access to the Atlantic, 50m delivery dock with private access via the shipyard, and a range of six catamaran models between 50 and 75 feet.

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