Robertson and Caine sold to European investment firm
Robertson and Caine, the South African boat designer and manufacturer, has been acquired by top European investment firm Vox Ventures.
Robertson and Caine, which designs and manufactures sailing and power catamarans for the export market under its Leopard brand, announced that its Founder and significant shareholder John Robertson, together with the current private equity shareholders, Capitalworks, entered into an agreement for the sale of Robertson and Caine to European investment firm Vox Ventures.
Robertson and Caine was founded by Robertson and the late Jerry Caine in 1991, and is South Africa’s largest boat builder manufacturing for export, with more than 2,400 boats launched over its history, within its Sailing (42ft, 45ft and 50ft ) and Power (46ft and 53ft) catamaran ranges.
“After more than 40 years in the boat business and 32 years with Robertson and Caine, I am pleased to leave Robertson and Caine, our valued One R&C team members and our longstanding customer Travelopia in the hands of new shareholders of such stature.
“Finding like-minded shareholders who are committed to and focused on continuing to build Robertson and Caine and the Leopard brand as a key part of its growing marine industry presence globally, was of critical importance to me.
“Although it is a bittersweet moment, I feel confident that the legacy will continue to grow from strength to strength and that the business will be in the best hands.”
Vox Ventures is a wholly owned subsidiary of PPF, a leading investment firm in Europe with its roots in the Czech Republic. PPF is active across a wide range of sectors with investments spanning financial services, telecommunications, media, biotechnology, real estate, mobility and e-commerce, across Europe, Asia and North America.
Didier Stoessel, Chief Investment Officer of PPF Group, commented:
“PPF is pleased to have agreed this transaction with Robertson and Caine’s founder and shareholders, who have achieved much success in building the Leopard brand. The quality of workmanship, skills and expertise of South African boatbuilders has attracted our investment.
“We are looking forward to working with the company’s exceptional management team and employees to smoothly transition ownership and further build on the excellence the company has delivered over its more than 30-year history.”
Theo Loock, Managing Director of Robertson and Caine, concluded:
“The Robertson and Caine team want to thank John Robertson and his family for the opportunity to be part of such an exciting business and for the honour of being associated with the Leopard brand all over the world. It is extremely pleasing to see that global investors like PPF are excited about the opportunities for South Africa in the marine industry.
“The management team is excited to work with the new shareholder to design Robertson and Caine’s next 30 years and the strategic path to achieve it.”