According to news reports, North Sails has reportedly been sold to Oakley Capital Investments for the purported sum of between $400 and 450 million. A story on sailing website says that the deal was signed today and official confirmation is imminent. asked a source from the North Sails group today if news of the sale was correct, who said it was "looking very positive" but was unable to officially comment or confirm the sale.

Founded as North Sails in 1957 by Lowell North, before being sold to Terry Kohler in 1977, the company has expanded over the years to become the North Technology Group, parent to a wide range of companies that includes Southern Spars. With their 3DL and 3Di technology, North-built sails have been a popular choice for superyachts, while Southern Spars have a 60% share of spars on all superyachts (see in depth report on Southern Spars in issue 151 of The Superyacht Report).

Oakley Capital Investments was founded by keen yachtsman Peter Dubens. A fund owned by Dubens, the Pembroke Venture Capital Trust, also made headlines in the yachting news in January when it purchased the Boat International Media Group.

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