Lewmar rigging sale won’t affect orders

Lewmar, the deck hardware specialist, this week announced that it sold its rigging business for an undisclosed sum to Allen Goddu, the owner of both Navtec Rigging Solutions Inc. and Impact Alloys. According to Lewmar, very little will change from the perspective of yards and project managers. “The same people are doing the same jobs in the same offices, so business continues as is and purchasers' contacts within the US and French offices remain unchanged,” explained Lewmar’s CEO Peter Tierney, exclusively for SuperyachtNews.com. “Lewmar will continue to service a pre-agreed list of existing customers in Europe, who again will see no change to their purchasing habits.”

Lewmar Ltd. and Lewmar North Europe will remain as Navtec distributors, supplying product and service to their existing customers in the UK and across Europe, as well as handling Superyacht project requirements.

The sale of the Navtec business will allow research and development resources to be allocated to other areas of Lewmar’s business including windlasses, thrusters, winches—and where the company sees the most potential and recovery in the marketplace.

"The rigging business operates very differently to our primary market,” Tierney said. “The sale of Navtec will allow full focus to be put on our core competency of providing quality deck hardware through our well established distribution and OEM channels."

According to Tierney, the idea of selling the Navtec business had been an element of the overall business strategy for some time. “The actual sale from start to finish took place in a normal timeframe for these kinds of processes,” he confirmed.

Profile links

Lewmar Ltd

Navtec Rigging Solutions

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