LCI to buy Lewmar Marine

LCI has made a cash offer for Lewmar Marine Photo: Lewmar Marine LCI has made a cash offer for Lewmar Marine Photo: Lewmar Marine
Industry Database

Lewmar Marine is to be bought by US-based Lippert Components after the board of directors agreed to a cash offer of £33.29m.

The offer from LCI, of which Lippert Components is a subsidiary, has the backing of shareholders holding four fifths of the company’s shares, but is yet to be formally agreed by all shareholders and the Scottish court.

Peter Tierney, Lewmar MD, said the deal is the best option for Lewmar and its employees. “The acquisition fairly reflects Lewmar’s current market position and prospects and, as such, Lewmar shareholders should be given the opportunity to realise value from this acquisition,” he said.

Strong US presence

Founded in 1946, Lewmar Marine is a world-wide supplier of leisure marine equipment for yachts, sailboats and powerboats. This will be the company’s second stint under American ownership; it was previously part of International Marine Industries in the 1980s and still has a strong US presence with a sales and distribution facility in Connecticut.

LCI operates across more than 65 facilities located in the US, Canada, Italy, Ireland and the UK with annual sales of US$2.5bn in 2018. Once the acquisition is finalised, Peter Tierney will continue to head up the business from its headquarters in Havant in the UK and will also take on added managerial responsibility for Trend Marine Products which LCI acquired last year when it bought the Taylor Made Group.

Latest Press Releases

Barton Marine take key role in showcasing UK Manufacturing Excellence

New for 2019 the Southampton Boat Show, powered by Borrow a Boat will be welcoming visitors into the... Read more

The International Paint Poole Regatta - Shaping up to be even Bigger in 2020

The International Paint Poole Regatta 2020 is developing to be the biggest event yet, with the organ... Read more

MS Amlin Seamanship Award Entries Close on the 20th August

Your chance to enter the MS Amlin Seamanship Award 2019 closes at midnight on Tuesday 20th August. Read more

Damage to the Environment - Episode 5 of 80 Seconds with Sir Robin Knox-Johnston

Sir Robin Knox-Johnston and Dee Caffari look at how the environment at sea has been damaged over the... Read more

MS Amlin Go Round the Island 2019

MS Amlin Yacht, the boat insurance specialists have now been race partners of Round the Island Race ... Read more

The Future of Yacht Design - Episode 4 of 80 Seconds with Sir Robin Knox-Johnston

Sir Robin Knox-Johnston and Dee Caffari discuss changes in yacht design during Sir Robin’s sailing c... Read more

View all