Bainbridge International announces restructure
Sailcloth and Hardware manufacturer and distributor, Bainbridge international Ltd, has announced a management buy-out and restructure. With outside investment and the support of the management team, Managing Director, Andrew Smith, has bought Bainbridge International Ltd.
The restructure sees the retirement of Jan O’Connor who has been with the business for over twelve years and the owner for the last six years. Jan will step down as Director and wishes the company well for the future. “I am delighted to see Andrew and the team at Bainbridge be in a position to take the business forward,” says O’Connor. “I have thoroughly enjoyed my time here, but I feel that the recent disruptions with the Covid pandemic have given me the right opportunity to retire and for a new chapter to begin for the company. I know that I am leaving it in very safe hands, ones that are committed to further innovation and development of the Bainbridge range as well as ensuring continuity for staff, customers and suppliers alike.”
With a view to securing the company’s future, Smith, who has been with Bainbridge for six years and brought with him a wealth of experience in sailmaking and textiles, has been instrumental in returning the company to its roots as a sailcloth and fabric specialist.
The company also has plans to develop the range further, with investment in developing new materials and supplying a quality product with competitive pricing. Alongside the sailcloth, Bainbridge plans to continue to develop and invest in its AquaMarine brand along with the supply of a wide range of marine products.
Smith comments: “It has been a difficult time for the global economy and will continue to be so but I am a strong believer in Bainbridge and the excellent team we have, this coupled with the strength of the relationships with our suppliers, from weavers to finishers, will stand us in good stead to weather these challenging conditions. I am very pleased to report that we have seen a significant increase in sales over the last few weeks and we are already looking to Spring 2021 when we hope that the marine industry and wider sailing community can enjoy a more ‘normal’ season. I would like to thank the team at Bainbridge for their steadfast commitment and hard work over these difficult months and know I can rely on them for their continued support as we move forwards.”
Gavin Lacey will remain as the company’s Commercial Director. Laurence Mead, who provided the investment for the acquisition, will join the board as a Non-Executive Chairman.