Oyster Yachts
| Company type | Privately held |
|---|---|
| Industry | Boat building |
| Predecessor | Oyster Marine |
| Founded | 1973 |
| Founder | Richard Matthews |
| Headquarters | , |
Key people | Richard Hadida (CEO), Paul Adamson (CCO), Clive Harrop (COO), Becky Bridgen (CFO) |
| Products | Sailing Yachts |
| Services | New yachts, yacht brokerage, yacht charter |
| Website | www |
Oyster Yachts (formerly Oyster Marine) is a British brand of luxury cruising sailing yachts established in 1973. The company is based in Southampton but with foundation and ongoing strong links to Wroxham and Ipswich.
Oyster Yachts is famed for developing the original Deck Saloon sailing yacht concept in 1980, now a proven design used across 35 Oyster models and more than 750 luxury sailing yachts.[1]]
History
Founding
In 1973 Richard Matthews founded Oyster Marine and commissioned the 32 ft prototype sailing yacht Unidentified Flying Object, designed by British Naval Architects Holman and Pye.[2] She proved to be a success, with Unidentified Flying Object winning the Royal Yacht Squadron's de Mass Cup at Cowes in 1974 alongside many other races.[3] The design was developed into the UFO 34,[3][4] and this became the first yacht to be produced by Oyster Marine.
.jpg)
Design
In 1978 Oyster Marine introduced a 46 ft cruiser-racer designed by Kim Holman & Donald Pye, pioneering the Deck Saloon feature that has since become the company's trademark.[5] Oyster continued to increase the size of its vessels, launching a 53 ft design by Rob Humphreys in 1997 followed by a 62 ft Robert Humphreys' design in 2002.[6] Today, Oyster Yachts builds sailboats ranging from 56 ft to 125 ft, all designed by Robert Humphreys and the Oyster Design Team.
Ownership
In 2008 the company was sold to private equity house Balmoral Capital in 2008 for around £70m[7][8] who then sold it in 2012 to Dutch private equity firm HTP Investments BV for around £15m.[9]
On 5 February 2018, Oyster Marine, the boat-building arm of the Oyster group (which also includes Oyster Brokerage and Oyster Charter) went into administration after a crisis in July 2015 when there was a catastrophic failure of the internal hull structure of a new Oyster 825 "Polina Star III"[10] and the yacht sank.[11] Despite significant positive efforts to quickly recall and repair the 4 other yachts built the same way, confidence was dented for a couple of years and incoming orders fell by 1/3rd for the next 24 months. Following the successful launch of several new models the company closed the end of 2017 with a record orderbook of £83m but with some cash flow issues. The Dutch shareholders made a sudden decision in January 2018 to withdraw their support and the directors had no alternative but to appoint Administrators.[12]
KPMG was appointed as administrator to Oyster Marine Holdings (the holding company for Oyster Yachts) on 7 February 2018,[13] and tried to find a new buyer for the business.
On 20 March 2018, gaming software entrepreneur Richard Hadida was announced as the new owner.[14] Hadida has embarked on a mission to get the business back on its feet and to re-employ as many of the 420 previous employees of Oyster Yachts as possible.[12] The Oyster Board consists of CEO Richard Hadida and CFO Becky Bridgen together with Non-Executives Ashley Highfield (Senior Independent Director), Eddie Jordan, Ivan Ritossa and Rob Humphreys.[15]
Reinvestment and Growth
Under Hadida’s ownership the company re-started manufacturing in its Wroxham yard on 15 May 2018, beginning to fulfil the contracts that Oyster held before it entered administration.[16] This included the re-hiring 50 of Oyster’s former shipwrights.[16]
British Manufacture
Oyster has always been a thoroughly British brand. Even during the company’s beginnings, when a lot of its boat building was subcontracted out, production was always awarded to other British yards. The most notable of these were Landamores in Hoverton who were responsible for the majority of Oyster produced.
Only a couple of models in the company’s history have ever been built outside the UK. These are the 2013 Oyster 54, produced in New Zealand by McDell Marine[17] and the 100 ft and 125 ft yachts designed by Ed Dubois built at RMK Marine in Turkey.[18][19]
Oyster have moved from being a marketing company which it was for the majority of it history, to taking assembley inhouse in 2000s and in 2019 it took the final step in this process taking hull moulding inhouse in a partnership with .
Awards and Recognition
The company has twice been awarded the Queen’s Award for Enterprise.[20] In 2012 the Oyster 625 was named the Luxury Cruiser of the Year at the boot Düsseldorf,[21] while the Oyster 100-01 was given the Judge's Commendation for yachts under 40 m at the World Superyacht Awards in Istanbul.[22]
In 2016, the Oyster 675 was voted Sailing Today’s Best Luxury Cruiser,[23] with the Oyster 565 the same award in 2017.[24] Then, in 2018, the Oyster 745 was named Cruising World’s Boat of the Year.[25]
Oyster Yachts was featured in the American documentary series Building the Brand in 2011,[26] which looked at the production processes behind iconic brands. Other companies featured include Gibson Guitars and Rolls Royce.
Oyster World Rally
The Oyster World Rally refers to the 2-3 year worldwide sailing expeditions that Oyster Yachts organises for its owners.[27] All owners of the company’s yachts are invited to sail the world together, following a route pre-planned and organised by Oyster and with support from the Oyster After Sales team.[28]
The rally was initially organised to celebrate 35 years of Oyster Yachts in 2013, but with the success of the first event the company decided to make the World Rally a regular feature in the Oyster social calendar. The first rally ran from 2013-14, with one currently underway from 2017-19 and one planned for 2021-23.[28]
Oyster is the only yachting brand currently running its own global circumnavigation.
Owner Events
Oyster puts on regular regattas, dinners and other events for their owners, owner’s friends and family, and crew.[29]
These events are run by the Oyster Yacht team[29] and generally this include two regattas per year - one in the Caribbean at Easter and one in the Mediterranean in September/October - as well as parties and dinners for owners during the London, Southampton and Annapolis boat shows and other sailing events.[29]
Models
Sailing Yachts
Current and previous Oyster yacht models[18] are listed below, with current models in bold:
| Model | Years | Designer | Built | Notes |
|---|---|---|---|---|
| UFO 34 (yacht) | 1974-19XX | Holman and Pye | +100[30] | Aft Cockpit Cruiser/Racer |
| Oyster 26 | 1978–1981 | Holman and Pye | 47[31] | Aft Cockpit Cruiser/Racer |
| SJ35 | 1983-1985 | Stephen Jones | 27 | IOR ¾ Tonner |
| Oyster Mariner 35 | 1979-1982 | Holman and Pye | 20 | Centre Cockpit Ketch |
| Oyster Heritage 37 | 1984-1989 | Holman and Pye | 32 | Coachroof or Pilot House |
| Oyster 37 | Holman and Pye | IOR One Tonner | ||
| Oyster Lightwave 395 | 1988-1990 | Carl Schumacher | 31 | |
| Oyster 39 | 1978-1984 | Holman and Pye | 43 | Centre Cockpit Ketch |
| Oyster 406 | 1986-1990 | Holman and Pye | 35 | Deck Salon and Coachroof versions |
| Oyster SJ41 | 1980-1987 | Stephen Jones | 33 | IOR One Tonner |
| Oyster 42 | 1996-2002 | 7 | Aft Cockpit Deck Salon | |
| SJ43 | ||||
| Oyster 435 | ||||
| Oyster 45 | 1996-2004 | Holman and Pye | 23 | |
| Oyster HP46 | 1981-1990 | Holman and Pye | 25 | Ketch and Sloop Versions |
| Oyster 46 | 2005-2012 | Rob Humphreys | 29 | |
| Oyster 47 | 2000-2004 | Holman and Pye | 13 | Modified Oyster 45 |
| Oyster 475 | 2012-2019 | Rob Humphreys | 7 | |
| Oyster 48 Lightwave | 1987-1991 | Carl Schumacher | 19 | |
| Oyster HP49 Pilot House | 1991-1997 | Holman & Pye | 9 | |
| Oyster 49 | 2001-2007 | Rob Humphreys | 15 | |
| Oyster 53 | 1999-2008 | Rob Humphreys | 52 | Later boats built in New Zealand by McDell[32] |
| Oyster 54 | 2008-2013 | Rob Humphreys | 21 | |
| Oyster 545 | 2014-2016 | Rob Humphreys | Approx. 8 | Restyled 54 |
| Oyster HP53/55 | 1986-19XX | Holman & Pye | 49 | 3 Ketches Approx. 46 Sloops |
| Oyster 56 | 1998-2010 | Rob Humphreys | 75 | |
| Oyster 565 | 2019 – present | Rob Humphreys | >3 | |
| Oyster 575 | 2011-2018 | Rob Humphreys | 46 | |
| Oyster 595 | 2019–Present | Rob Humphreys | Concept | |
| Oyster 61 | 1995-2000 | Holman and Pye | 14 | |
| Oyster 62 | 20??-2010 | Rob Humphreys | 22 | |
| Oyster 625 | 2011 - 2019 | Rob Humphreys | 21 | |
| Oyster 655 | 2007 - 2010 | Rob Humphreys | 17 | |
| Oyster 665 | 2014 | Rob Humphreys | 1 | A 655 Custom |
| Oyster 66 | Rob Humphreys | 13 | ||
| Oyster 675 | 2017 – present | Rob Humphreys | 3 | |
| Oyster 68 | Holman and Pye | 10? | 2 produced as Sail Training Vessels (see below) | |
| Oyster HP68 | ||||
| Oyster 70 | 1996-1999 | 4 | ||
| Oyster 72 | Rob Humphreys | |||
| Oyster 725 | Rob Humphreys | 3 | ||
| Oyster 745 | 2018 – present | Rob Humphreys | >3 | |
| Oyster 80 | 2 | |||
| Oyster 82 | Rob Humphreys | 18 | ||
| Oyster 825 | 2002-2017 | Rob Humphreys | 7 | Deck Saloon and Raised Saloon |
| Oyster 885 | 2o12-2019 | Rob Humphreys | 10 | |
| Oyster 885 Series 2 | 2019 – present | Referred to initially as the 895 | ||
| Oyster 100 | 2010-2012[33] | Ed Dubois | 3[34] | Built by RMK Marine in Turkey |
| Oyster 1225 | 2018 – 2019 | Rob Humphries | >1 | Built by Oyster and Pendennis Shipyards |
| Oyster 125 | 2013 | Ed Dubois | 1 | Flybridge boat built by RMK Marine in Turkey |
(CC = Centre Cockpit; AC = Aft Cockpit; RS = Raised Saloon; DH = Deck House) (Current Oyster Models in bold)
Sail Training Boats
The majority of Oyster boats have been luxury cruisers, however Oyster has produced four sail training vessels:
- The Oyster 68 ketch RONA II,[35] provided as a kit for completion by the then London Sailing Project - now Rona Sailing Project which sails out of Hamble
- The Oyster 68 ketch LORD RANK produced for Ocean Youth Club Northern Ireland. LORD RANK was lost with no loss of life during a delivery in June 2010 when she struck and sank on the Carrickmannon Rocks off Northern Ireland.[36]
- The Oyster 80 ketch TEAM SPIRIT OF WIGHT produced for the Ocean Youth Club and subsequently sold to Gordonstoun School as OCEAN SPIRIT OF MORAY.[37]
- The Oyster 70 ketch ALBA VENTURE, produced for the Ocean Youth Trust Scotland.[38]
Motor Boats
| Model | Years | Designer | Built | Notes |
|---|---|---|---|---|
| Powerline 390 | 1990-1991 | John Bennett | 11 | Based on Humber 38 Hull |
| LD43 / OM43 | 20 |
References
- ^ "Oyster Yachts". www.oysteryachts.com. Retrieved 24 August 2018.
- ^ "UFO34 cruiser-racer archive details - Yachtsnet Ltd. online UK yacht brokers - yacht brokerage and boat sales". www.yachtsnet.co.uk. Retrieved 24 August 2018.
- ^ a b "UFO". www.oysteryachts.com. Retrieved 24 August 2018.
- ^ "UFO 34 sailboat specifications and details on sailboatdata.com". sailboatdata.com. Retrieved 24 August 2018.
- ^ "Oyster Yachts | David Walters Yachts". www.davidwaltersyachts.com. Retrieved 24 August 2018.
- ^ "Oyster 53 | Humphreys Yacht Design". www.humphreysdesign.com. Retrieved 24 August 2018.
- ^ "Buyer confirmed for Oyster". Yachting Monthly.
- ^ "Boating Business | Oyster Marine sold to Balmoral Capital". www.boatingbusiness.com. Retrieved 24 August 2018.
- ^ "Ipswich: Luxury yacht builder Oyster Marine acquired by Dutch investors". East Anglian Daily Times. Retrieved 24 August 2018.
- ^ "Experts examine Oyster Yacht that sank after the keel and its stub broke off". Yachting World.
- ^ ""We ran out of cash.." the management of Southampton-based Oyster Yachts tell workforce". Southern Daily Echo.
- ^ a b Tovey, Alan (19 March 2018). "Oyster Yachts bailed out of administration by tech entrepreneur Richard Hadida". The Telegraph. ISSN 0307-1235. Retrieved 24 August 2018.
- ^ "Buyer confirmed for Oyster: recruitment underway for staff - Yachting Monthly". Yachting Monthly. 20 March 2018. Retrieved 24 August 2018.
- ^ "Oyster Yachts delighted to announce new ownership". www.oysteryachts.com. Retrieved 24 August 2018.
- ^ "Oyster Yachts' Announcement of New Board | Oyster Yachts". www.oysteryachts.com. Retrieved 12 April 2019.
- ^ a b "Oyster sets sail as manufacturing starts in Wroxham". www.oysteryachts.com. Retrieved 24 August 2018.
- ^ BAILEY, ROBIN (27 August 2004). "McDell Marine going from strength to strength". NZ Herald. ISSN 1170-0777. Retrieved 24 August 2018.
- ^ a b "Our Luxury Sailing Yachts | Sailing Superyachts | Oyster Yachts". www.oysteryachts.com. Retrieved 24 August 2018.
- ^ "Yacht Hull 100/03, an Oyster 100 Superyacht built by RMK Marine". www.charterworld.com. Retrieved 24 August 2018.
- ^ "Ipswich: Luxury yacht builder Oyster Marine acquired by Dutch investors". Ipswich Star. Retrieved 24 August 2018.
- ^ "Oyster 625 Yacht Blue Jeannie: winner of the 2012 'Best Luxury Cruiser'award — Yacht Charter & Superyacht News". www.charterworld.com. Retrieved 24 August 2018.
- ^ "Happy sailing with top sailing yachts - 2LUXURY2.COM". 2LUXURY2.COM. 2 May 2014. Retrieved 24 August 2018.
- ^ "Sailing Today Awards 2016 - all winners revealed - Sailing Today". Sailing Today. Retrieved 24 August 2018.
- ^ "OYSTER SCOOP DOUBLE AWARD COURTESY OF SAILING TODAY". www.oysteryachts.com. Retrieved 24 August 2018.
- ^ "OYSTER 745 WINS BOAT OF THE YEAR 2018". www.oysteryachts.com. Retrieved 24 August 2018.
- ^ "Building the Brand : Programs : 3net : Discovery Press Web". 24 August 2015. Retrieved 24 August 2018.
- ^ "Oyster World Rally 2017-19". Oyster World Rally 2017-19. Retrieved 24 August 2018.
- ^ a b "Oyster World Rally: August 2018 Update | Oyster Yachts". www.oysteryachts.com. Retrieved 24 August 2018.
- ^ a b c "Oyster Events | Oyster Yachts". www.oysteryachts.com. Retrieved 24 August 2018.
- ^ "Previous Models - UFO 34". Oyster Yachts. Retrieved 1 December 2017.
- ^ "Oyster 26 - Oyster Yachts". www.oysteryachts.com.
- ^ "Oyster 53 Review: New Zealand Built Cruiser". www.jordanyachts.com. JORDAN YACHT AND SHIP COMPANY. 11 May 2010. Retrieved 12 November 2018.
- ^ "First Oyster 100 - Yachting World". 12 November 2009.
- ^ "Yacht Hull 100/03, an Oyster 100 Superyacht built by RMK Marine". www.charterworld.com.
- ^ "RONA II - Sail On Board". Sail On Board. Retrieved 24 August 2018.
- ^ "Lord Rank sinking Yachting World". Retrieved 15 March 2019.
- ^ "Sailing and STV". Retrieved 15 March 2019.
- ^ "Alba Venturer | Our Fleet - Ocean Youth Trust Scotland". Ocean Youth Trust Scotland. Retrieved 24 August 2018.
External links
- Oyster Yachts - official website