Oyster Yachts has been bought by a British software entrepreneur, with plans to resume boat building in Britain immediately and potentially launch a range of smaller yachts in future.

 

Oyster is delighted to confirm it is now under new ownership. Richard Hadida, a British entrepreneur and founder of global software business Evolution Gaming Group and a lifelong sailor, has acquired the business with the firm commitment to re-establish Oyster as the premium designer and manufacturer of yachts in the world. Richard’s investment has secured the future of Oyster. He has established a new management team with both the experience and capability to deliver a fast and effective transformation. The future for Oyster looks very bright.

Message from Richard Hadida:I am a lifelong, passionate sailor and yachtsman. This culminated for me in 2014 when I was fortunate enough to become the very proud owner of a new Oyster 885. These last four years sailing my Oyster have only served to strengthen my belief that Oyster is the absolute pinnacle in yacht design.

But Oyster is about more than just the yachts itself. When you buy an Oyster, you truly become part of the Oyster family – this is what makes owning an Oyster so special and why I felt it was so important that we save this prestigious British yacht builder and continue to nurture and grow the Oyster Group for the long term.

I have established a fantastic management team to help me return Oyster to its rightful place, including Kim Stubbs, who lead the hugely successful turnaround of Sunseeker.

Our immediate priority as a new management team is to quickly re-build the design and manufacturing teams, then to ensure the completion of all the “in-build” projects that have until today been paused while Oyster completes this change in ownership. We will be in touch with all our customers immediately to get this process moving forward and to ensure our customers get the service they deserve.