Famous British marque is back
The Tarquin Boat Company, the firm behind the Trader range of motoryachts, has been sold for £440,000.
MBY can reveal a UK conglomerate of investors calling themselves the Trader Boat Company Ltd bought the business, with the deal concluded late on Friday 24 July.
Tarquin appointed administrators Portland Business and Financial Solutions to find a buyer for the company in June.
It is not known who is behind the acquisition.
“The conglomerate was set up as a vehicle to acquire the business,” explained a spokesman for Portland. “There are a number of investors behind it.
“There was a bidding process and various parties expressed an interest. Theirs was the highest offer on the table.
“They took on the business as of Friday evening. It was quite a drawn out process. We hoped to conclude in the early part of July, but the size of the funds involved and the fact that they were coming from different parts of the UK meant it was a challenge to coordinate for them.”
One of the first things the new owners will look at is the ongoing build of Trader’s new models, as well as ensuring customer builds in process are continued.
Trader’s yachts are built in Taiwan and China by separate and independent firms who have continued to make boats for other brands.
The Chappell family are expected to make a statement in the coming days. Tony Chappell started the Trader marque 30 years ago and has sold boats worldwide from his base in Emsworth, Hampshire.
Watch MBY.com for more on this story.
Click here for our original story on Trader in administration .