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Monday, September 22, 2008

Superyacht shipyard: new majority shareholder and new board at Jongert Shipyard

Jongert 2900M "Amena" for sale with Dahm International

In April 2008, after 30 years as the main shareholder in the business, Frans Heesen completed the transaction of the majority of the shares to an international investment group. In September 2008, Investment company Value Enhancement Partners becomes the main shareholder in Jongert shipyard: is it time for consolidation in the Dutch superyacht shipyards ?

Wieringerwerf, 22 September 2008

"Investment company Value Enhancement Partners (VEP) has increased its shareholding in Jongert Shipyard and now has a majority interest. Jeroen Koot has been appointed Managing Director.
Jan Jongert (54) has stepped down as Managing Director. He will continue to be involved as an advisor to the company, ensuring that his knowledge and 35 years of experience in the yachtbuilding industry remains available.

The new Managing Director Jeroen Koot (46) was appointed due to his expertise and comprehensive experience in the management of complex project organisations. Peter Visser (33), who already worked at Jongert, has joined the board as Financial Director.

Jongert Shipyard is prospering after an earlier injection of capital by VEP and has taken new orders for both sailing and motor yachts. The enhanced VEP interest will provide additional means to renew and expand its product line in a growing market.

The Jongert Shipyard operates in the premium segment of the market for luxury sailing and motor yachts, and hasthe most modern yard in the world for building superyachts up to 60 metres. It also operates carbon neutral thanks to the production of green energy in its own biomass digestion plant.

Value Enhancement Partners is Dutch privately owned investment and management firm founded in the 1990's by a number of seasoned corporate finance and strategy professionals.

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