Company: Bainbridge International
Business Type: Manufacturer, Sail Maker
UK & International Business Sales and M&A News
The UK’s Bainbridge International, a well-established sailcloth and hardware manufacturer, has been acquired by MD Andrew Smith, with the help of outside investment and the support of the management team.
Andrew Smith has been with Bainbridge for six years, bringing with him a wealth of experience in textiles in general, and sail-making in particular, both technically and practically. He has been instrumental in returning the company, which was established in 1917, to its roots as a sailcloth and fabric specialist, and he now plans to develop the range further and continue investing in developing new materials.
Andrew Smith commented:
“It has been a difficult time for the global economy and will continue to be so, but I am a strong believer in Bainbridge and the excellent team we have.
“This, coupled with the strength of the relationships with our suppliers, from weavers to finishers, will stand us in good stead to weather these challenging conditions.
“I am very pleased to report that we have seen a significant increase in sales over the last few weeks and we are already looking to spring 2021 when we hope that the marine industry and wider sailing community can enjoy a more ‘normal’ season.”
Andrew Smith - MD of Bainbridge International
The restructure sees the retirement of Jan O’Connor, who has been with the sailcloth and hardware manufacturer, one of the world’s oldest, for over 12 years and the owner for the last six years.
Jan O’Connor commented:
“I am delighted to see Andrew and the team at Bainbridge be in a position to take the business forward.
“I have thoroughly enjoyed my time here, but I feel that the recent disruptions with the Covid pandemic has given me it is the right opportunity to retire and for a new chapter to begin for the company.”
Jan O'Connor - outgoing owner of Bainbridge International
Alongside the sailcloth, Bainbridge says it plans to continue to develop and invest in their AquaMarine brand along with the supply of a wide range of marine products. In the UK Bainbridge already distributes a wide range of brands for the marine aftermarket and OEMs.
Jan O’Connor continued:
“I know that I am leaving it in very safe hands, ones that are committed to further innovation and development of the Bainbridge range as well as ensuring continuity for staff, customers and suppliers alike.”
Jan O'Connor - outgoing owner of Bainbridge International
Gavin Lacey will remain as the company’s commercial director. Laurence Mead, who provided the investment for the acquisition, joins the board as non-executive chairman.
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