A former Dun Laoghaire Harbour based Sailing School instructor will lead a new Oyster Yachts management team following the purchase of the luxury boat builder after it went under in February, according to British media reports.
YBW.com reports here, that Richard Hadida has purchased Oyster Yachts and all of its subsidiaries and has brought the owner of one–time Dun Laoghaire Harbour–based sailing school, Sailing West, Paul Adamson on board.
Adamson and his wife Audrey sailed around the world from 2012 to 2014 working professionally for ex Formula One Team Boss, Dubliner Eddie Jordan and prior to that ran the Sailing West Sailing School based at Dun Laoghaire’s ferry terminal.
More recently, Adamson has been working as a ‘motivational speaker’, details as per his website here.
As Afloat.ie reported at the time, the British luxury yacht builder stopped production in February with the loss of some 380 employees at its UK sites at Southampton and Wroxham in Norfolk after the Dutch private equity firm, HTP Investments, announced it would no longer continue to financially support the company.
Hadida is now forming a management team, led by Oyster skipper Adamson, who captained Eddie Jordan’s Oyster 885, LUSH in the Oyster World Rally in 2014.
Adamson was also a regular competitor on the Dublin Bay SB20 Sportsboat circuit.
Hadida, who regularly sails on LUSH, told Yachting Monthly he has used his own personal fortune to buy Oyster and all of its subsidiaries, including Oyster Palma and Oyster Newport in the USA.
“Every part of the business, including brokerage and chartering, I plan to bring back to life,’ he noted. ‘I am not looking to flip it, there is no exit planning, I am in it for the long run, it will be a lifetime business.”
His first priority will be on the 26 customers whose Oysters were in build when the company closed its doors.
“We are hoping to start employing people as of tomorrow. At the moment, we have boats in every stage of build from the mould to almost complete and we need to get people on these boats and building them fast. I want to get those yard doors open and start building boats again,” stressed Hadida.
Adamson, who will act as ‘Chief Transformation Officer’, added that the 26 customers with Oysters in build will get exactly what they ordered.
With thanks to Afloat.ie for the story and image