Company: Ribcraft
Business Type: Boat Builder, Boat Sales
UK & International Business Sales and M&A News
Toby Adams has acquired Ribcraft for an undisclosed sum.
The RIB manufacturer Ribcraft, based in Yeovil, Somerset, has been bought by UK entrepreneur Toby Adams and looks set to expand on the success it has already enjoyed in growing governmental, military and securities sectors, as well as placing a larger emphasis on environmental sustainability.
Ribcraft was founded in the late 1980s and has grown to become a leading builder of rigid inflatable boats from 4.2m-18m for leisure, commercial and military applications, including police and search and rescue use.
Toby Adams, who is based in Dubai, was first introduced to the RIB manufacturer in 2009 when co-founding global franchise The Yellow Boats, when he chose to use Ribcraft RIBs for the tourism operator.
He then embarked on investing in a Ribcraft license to manufacture in the UAE and supply the increasing global demand for Ribcraft boats across the Middle East.
Following large government, military and securities contracts, Mr Adams has now acquired Ribcraft with a view to supporting the already substantially growing business.
Toby Adams commented:
“I am really excited to be investing in and heading up this British manufacturer and it is good to be part of a very positive story at this time.
“We are currently focusing on putting key people in place, as well as looking at recruiting and expanding the Yeovil factory.
“Ribcraft has become synonymous with robust rigid inflatable boats. This acquisition facilitates the growth of the business on a global scale and will bring a dynamic edge to the business.
“We are extremely excited to build on what is an outstanding brand, product line and opportunity.”
Toby Adams - Managing Director of Ribcraft
Toby Adams
Present and future plans for the business are going to be focused on enhanced aftersales support, plus new and existing contracts for military and global demand.
Another development will be the focus on environmental sustainability through carbon offsetting and the launch of the new Ribcraft hybrid range. The hybrid propulsion system has been designed to make Ribcraft boats the most advanced environmentally friendly patrol boats in the world.
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