Published on: 23 April 2015
BMF member Rightboat Ltd. has announced its acquisition by Oxygen Marine Ltd, a specialist technology focused private equity investment business.
Although Oxygen has initially acquired 100% of the equity in Rightboat, the deal is structured to allow for ongoing equity and service participation of the key founding marine shareholders of Rightboat into the reshaped and refocused business.
As a result of this deal Rightboat.com, one of Europe's leading online boat broker portals and boat sales networks, will make significant investments in its technology and sales and marketing infrastructure in order to provide a much enhanced customer experience. This enhanced service will all be geared at helping brokers and boat owner customers connect with potential boat buyers and ultimately sell more boats.
Mike Cook, ex-Chairman of Rightboat said: "The opportunity of acquiring Oxygen Marine's expertise and access to the investment capital required to realise the potential afforded to Rightboat was one not to be missed. As a board, my colleagues and I were unanimous in our decision to involve Oxygen. We have been extremely impressed with Oxygen's professionalism, its understanding of our unique market place and how the sales process operates, and how the application of technology and innovative sales models could be applied to help the broker community and their clients sell more boats. We look forward to the full engagement of the local and international broker community and the success that these partnerships will surely deliver.”
For more information on Rightboat click here.