Corporate & Commercial
Ince Metcalfes advises on acquisition of leading international boat builderNovember 03, 2020
Ribcraft, a highly respected British boatbuilding firm based in the South West has been acquired by Dubai based buyer Toby Adams, advised by the team at Ince Metcalfes.
Ribcraft, based in Yeovil, Somerset, has gained an enviable reputation over the past 30 years as the leading global builder of custom and production rigid inflatable boats, with high profile clients including the Police, Lifeboats, Search & Rescue and Defence contractors.
The complex cross-border deal was led by Edward Chapman, Managing Associate at Ince Metcalfes, and involved colleagues from different departments and jurisdictions across the Ince Group, including Alastair Holland in Dubai as well as Rhona Forster and Lydia Cammiade in Bristol. The value of the deal has not been disclosed.
Toby Adams, the new Managing Director of Ribcraft, said: “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. I want to thank Ed, Alastair and the rest of the team at Ince for their support throughout the transaction; their guidance and pragmatism were invaluable in the current climate.”
Edward Chapman, Managing Associate, Ince Metcalfes commented: “It was a pleasure to work with Toby and his team on this acquisition, which will enable Ribcraft to build on its existing reputation and become a truly global operation. It was also great to work closely with Alastair and our Dubai based team. Ince is a global business with experts across varying practices and this capability allows us to support our clients wherever they are based.”
Chapman has significant experience in advising owner managed businesses and SMEs on M&A and is based in Ince Metcalfes’ Bristol office. Katherine Gilmour from Battens’ Yeovil office advised the sellers.