Company: Hall Spars, North Technology Group
Business Type: Rigging, Sail Maker
UK & International Business Sales and M&A News
North Technology Group (NTG) has announced the acquisition of the Hall Spars business out of receivership.
Hall Spars group was founded 37 years ago by Eric Hall in Bristol, Rhode Island (USA) and expanded to facilities in Auckland, New Zealand and Breskens, Netherlands.
The US parent company announced in early 2017 that it would be closing the doors due to well publicized financial challenges after an investment deal to stabilize the company at the end of 2016 fell through.
NTG’s acquisition will see Hall Spars activities continue in Auckland and Breskens, and a re-establishment of Hall’s Service presence in Rhode Island for both local and globally based customers.
“Hall Spars has long been highly regarded in the mast business and the financial challenges the company faced earlier this year were very saddening but reflect just how tough the marketplace has become. Our involvement will secure the design records and so forth to the benefit of existing Hall customers everywhere, past present and future. We will retain many key staff and much production capability. It is a great fit for NTG and should be good for all involved.”
Richard Lott, COO of North Technology Group
“We see the addition of Hall Spars as a further strengthening of the group’s mast making skills. It broadens our reach with the addition of the male mandrel mast building technology. This balances Southern’s typically female molded approach enabling us to serve all customers’ needs.”
Sam Watson, CEO of NTG’s mast businesses
NTG’s Mast business will comprise both the strong Hall Spars and Southern Spars brands alongside the world’s premier rigging supplier Future Fibres.
The group’s management is determined to maintain the branding and manufacturing independence of each of them, with Hall Spars and Southern Spars recognized as serving customers with slightly different requirements.
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