NextStage AM has acquired a stake in La Compagnie du Catamaran, the controlling holding company of Fountaine Pajot, a global leader for sail and power cruising catamarans based in La Rochelle.
A pioneer in the market for sail cruising catamarans since 1983, Fountaine Pajot’s boatyard developed globally in this promising market and, as of 1998, led the way in the rapidly growing power catamaran segment thanks to its innovative profile.
For 40 years, the boatyard has designed, produced and marketed more than 2,500 catamarans and has launched more than 38 models to date. Last year (fiscal year ending August 31, 2014), Fountaine Pajot, which has 440 employees split into two different manufacturing sites, generated sales of EUR49.6 million, up 22 per cent from 2013, with a EUR6.9 million EBITDA (14 per cent of sales).
Following this share purchase transaction from several historical shareholders and ACE Management fund, NextStage AM has become the second-largest shareholder of the holding company alongside the Fountaine family, which continues to hold a majority stake.
“This association with NextStage AM will enable Fountaine Pajot to further strengthen its strategic position,” says Claire Fountaine, the Chairman of Fountaine Pajot. “Thanks to its innovative industrial vision and its long-term investment approach, NextStage AM will support the Fountaine family and the management team currently leading the company’s development.”
Nicolas Gardies, Chief Executive Officer of Fountaine Pajot, notes that: “The boatyard continues its long-term development, and this new association with NextStage AM will help to further enhance the strategy of pushing major innovation trends on behalf of recreational boaters.”
“We chose to invest in the Fountain Pajot controlling holding company through the new NextStage vehicle, which is making its third investment, in order to provide long-term equity financing for the new team of entrepreneurs led by Nicolas Gardies (General Manager) and Romain Motteau (Deputy General Manager),” says Grégoire Sentilhes, Chairman and Co-Founder of NextStage AM (pictured). “While the cruising market is changing and increasingly growing in international markets, we share the vision of Jean-Francois and Claire Fountaine for Fountaine Pajot, which seeks to strengthen its presence in high-growth regions backed by the boatyard’s considerable innovative capabilities. We are convinced that, thanks to their design, comfort and performance, Fountaine Pajot catamarans provide recreational boaters a unique experience at a time when the value of our emotions becomes more important.”
