Oyster Yachts

Last updated

Oyster Yachts
Company type Privately held
Industry Boat building
PredecessorOyster Marine
Founded1973
FounderRichard Matthews
Headquarters
Southampton
,
United Kingdom
Key people
Ashley Highfield (CEO),
Richard Hadida (Chairman)
ProductsSailing Yachts
ServicesNew yachts, yacht brokerage, yacht charter
Website www.oysteryachts.com

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.

Contents

History

Founding

In 1973 Richard Matthews founded Oyster Marine and commissioned the 32 ft prototype three quarter tonner sailing yacht UFO II, designed by British Naval Architects Holman and Pye and built by Norfolk based boatbuilder, Landamores. [1] UFO won the Royal Yacht Squadron's de Maas Cup at Cowes in 1974. [2] The design was developed into the UFO 34, [2] [3] and this became the first yacht to be produced by Oyster Marine.

UFO 34 the first yacht produced by Oyster Marine Amadeus sailing (UFO 34).jpg
UFO 34 the first yacht produced by Oyster Marine

Design

In 1978 Oyster Marine introduced a 46 ft cruising ketch designed by Holman & Pye, pioneering the Deck Saloon feature that has since become the company's trademark. [4] Oyster continued to increase the size of its vessels, launching a 53 ft design by Rob Humphreys in 1997 followed by a 62 ft Humphreys' design in 2002. [5] Today, Oyster Yachts builds sailboats ranging from 56 ft to 125 ft, all designed by Rob Humphreys and the Oyster Design Team.

British Manufacture

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 Hoveton (Wroxham) who were responsible for the majority of Oysters produced.

Only a couple of models in the company’s history have ever been built outside the UK. These are the Oyster 49, Oyster 54 and LD43 [6] parts of the production run was produced in New Zealand by McDell Marine [7] and the 100 ft and 125 ft yachts designed by Ed Dubois built at RMK Marine in Turkey. [8] [9]

Oyster have moved from being a marketing company which it was for the majority of its history, to taking assembly in-house in 2000s and in 2019 it took the final step in this process taking hull moulding in-house in a partnership with Lloyds Register.

Ownership, Administration and Acquisition

In 2008 the company was sold to private equity house Balmoral Capital in 2008 for around £70m [10] [11] who then sold it in 2012 to Dutch private equity firm HTP Investments BV for around £15m. [12]

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.

In July 2015, there was a failure of the internal hull structure of an Oyster 825 "Polina Star III". [13] An investigation found the manufacturing process of the inner structure of the Oyster 825 led to the vessel sinking. [14] Following the successful launch of several new models the company closed at the end of 2017 due to cash flow issues. [15] The then owner, Dutch Private Equity owner H.T.P. Investments BV withdrew their support, leaving the directors with no alternative but to appoint Administrators. [16]

KPMG was appointed as administrator to Oyster Marine Holdings (the holding company for Oyster Yachts) on 7 February 2018. [10]

On 20 March 2018, British tech entrepreneur and founder of Evolution Gaming Group Richard Hadida acquired Oyster Yachts in its entirety. [17] Hadida began re-employing many previous employees of Oyster Yachts. [16] The Oyster Board consists of Hadida and CFO Becky Bridgen together with Non-Executives Ashley Highfield (Senior Independent Director), Eddie Jordan, Ivan Ritossa and Rob Humphreys. [18]

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. [19] This included re-hiring 50 of Oyster’s former shipwrights. [19]

In January 2024, Oyster returned to making profits for the first time since 2018. This followed a 29% year-on-year increase in turnober to £56.4m. [20]

Awards and recognition

The company has twice been awarded the Queen’s Award for Enterprise. [21] In 2012 the Oyster 625 was named the Luxury Cruiser of the Year at the boot Düsseldorf, [22] while the Oyster 100-01 was given the Judge's Commendation for yachts under 40 m at the World Superyacht Awards in Istanbul. [23]

In 2016, the Oyster 675 was voted Sailing Today’s Best Luxury Cruiser, [24] with the Oyster 565 the same award in 2017. [25] Then, in 2018, the Oyster 745 was named Cruising World’s Boat of the Year. [26]

Oyster Yachts was featured in the American documentary series Building the Brand in 2011, [27] 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. [28] 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. [29]

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, then another from 2017-19, 2021-23 and the most recent started in January 2024. [29] The next rally is planned to run from 2028-2029. [30]

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 community. [31] These events are run by the Oyster Yachts Event team [31] and generally this include two regattas per year - the Oyster Antigua Regatta in the Caribbean at Easter and the Oyster Palma Regatta 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. [31] Another popular event on the Oyster Yachts event calendar is the Oyster Rendezvous which takes place every summer in the Mediterranean.

Models

Sailing Yachts

Current and previous Oyster yacht models [8] are listed below, with current models in bold:

ModelYearsDesignerBuiltNotes
UFO 34 (yacht) 1974-19XXHolman and Pye+100 [32] Aft Cockpit Cruiser/Racer
Oyster 261978–1981Holman and Pye47 [33] Aft Cockpit Cruiser/Racer
SJ351983-1985Stephen Jones27IOR ¾ Tonner
Oyster Mariner 351979-1982Holman and Pye20Centre Cockpit Ketch
Oyster Heritage 371984-1989Holman and Pye32Coachroof or Pilot House
Oyster 37Holman and PyeIOR One Tonner
Oyster Lightwave 3951988-1990Carl Schumacher31
Oyster 391978-1984Holman and Pye43Centre Cockpit Ketch
Oyster 4061986-1990Holman and Pye35Deck Salon and Coachroof versions
Oyster SJ411980-1987Stephen Jones33IOR One Tonner
Oyster 421996-20027Aft Cockpit Deck Salon
SJ431981Stephen Jones
Oyster 4351983-1995Holman and PyeKetch and Cutter
Oyster 451996-2004Holman and Pye23
Oyster HP461981-1990Holman and Pye25Ketch and Sloop Versions
Oyster 46 2005-2012Rob Humphreys29
Oyster 472000-2004Holman and Pye13Modified Oyster 45
Oyster 475 2012-2019Rob Humphreys7
Oyster 48 Lightwave 1987-1991Carl Schumacher19
Oyster HP49 Pilot House1991-1997Holman & Pye9
Oyster 485 1994 - 2002Holman & Pye36
Oyster 49 2001-2007Rob Humphreys15
Oyster 495 2022 – presentRob Humphreys>17
Oyster 531999-2008Rob Humphreys52Later boats built in New Zealand by McDell [34]
Oyster 542008-2013Rob Humphreys21
Oyster 5452014-2016Rob HumphreysApprox. 8Restyled 54
Oyster HP53/551986-19XXHolman & Pye493 Ketches
Approx. 46 Sloops
Oyster 561998-2010Rob Humphreys75
Oyster 565 2019 – presentRob Humphreys>3
Oyster 575 2011-2018Rob Humphreys46
Oyster 595 2019–PresentRob Humphreys>10
Oyster 61 1995-2000Holman and Pye14
Oyster 621997-2010Rob Humphreys22
Oyster 625 2011 - 2019Rob Humphreys21
Oyster 655 2007 - 2010Rob Humphreys17
Oyster 6652014Rob Humphreys1A 655 Custom
Oyster 662000 - 2005Rob Humphreys13
Oyster 675 2017 – presentRob Humphreys3
Oyster 68 Holman and Pye10?2 produced as Sail Training Vessels (see below)
Oyster HP68
Oyster 701996-19994
Oyster 72Rob Humphreys
Oyster 725 Rob Humphreys3
Oyster 745 2018 – presentRob Humphreys>3
Oyster 802
Oyster 82 Rob Humphreys18
Oyster 8252002-2017Rob Humphreys7Deck Saloon and Raised Saloon
Oyster 8852o12-2019Rob Humphreys10
Oyster 885 Series 22019 – presentReferred to initially as the 895
Oyster 1002010-2012 [35] Ed Dubois3 [36] Built by RMK Marine in Turkey
Oyster 12252018 – 2019Rob Humphries>1Built by Oyster and Pendennis Shipyards
Oyster 1252013Ed Dubois1Flybridge 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, [37] 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 the Ocean Youth Club. 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. [38]
- 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. [39]
- The Oyster 70 ketch ALBA VENTURER, produced for the Ocean Youth Trust Scotland. [40]

Motor Boats

ModelYearsDesignerBuiltNotes
Powerline 3901990-1991John Bennett11Based on Humber 38 Hull
LD43 / OM4320

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References

  1. ↑ "UFO34 cruiser-racer archive details - Yachtsnet Ltd. online UK yacht brokers - yacht brokerage and boat sales". www.yachtsnet.co.uk. Retrieved 24 August 2018.
  2. 1 2 "UFO". www.oysteryachts.com. Retrieved 24 August 2018.
  3. ↑ "UFO 34 sailboat specifications and details on sailboatdata.com". sailboatdata.com. Retrieved 24 August 2018.
  4. ↑ "Oyster Yachts | David Walters Yachts". www.davidwaltersyachts.com. Retrieved 24 August 2018.
  5. ↑ "Oyster 53 | Humphreys Yacht Design". www.humphreysdesign.com. Retrieved 24 August 2018.
  6. ↑ "McDell Marine Limited are New Zealand agents for Oyster Yachts". Archived from the original on 19 October 2007.
  7. ↑ BAILEY, ROBIN (27 August 2004). "McDell Marine going from strength to strength". NZ Herald. ISSN   1170-0777 . Retrieved 24 August 2018.
  8. 1 2 "Our Luxury Sailing Yachts | Sailing Superyachts | Oyster Yachts". www.oysteryachts.com. Retrieved 24 August 2018.
  9. ↑ "Yacht Hull 100/03, an Oyster 100 Superyacht built by RMK Marine". www.charterworld.com. Retrieved 24 August 2018.
  10. 1 2 "Buyer confirmed for Oyster". Yachting Monthly. 20 March 2018.
  11. ↑ "Boating Business | Oyster Marine sold to Balmoral Capital". www.boatingbusiness.com. Retrieved 24 August 2018.
  12. ↑ "Ipswich: Luxury yacht builder Oyster Marine acquired by Dutch investors". East Anglian Daily Times. Retrieved 24 August 2018.
  13. ↑ Group, The Superyacht (26 February 2018). "Owner of 'Polina Star III' has his say on Oyster administration - SuperyachtNews". Superyacht News. Retrieved 13 May 2024.{{cite web}}: |last= has generic name (help)
  14. ↑ "Experts examine Oyster Yacht that sank". Yachting World. 27 November 2015. Retrieved 13 May 2024.
  15. ↑ "Oyster yachts enters administration". Superyacht Investor. Retrieved 13 May 2024.
  16. 1 2 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.
  17. ↑ "Oyster Yachts delighted to announce new ownership". www.oysteryachts.com. Retrieved 24 August 2018.
  18. ↑ "Oyster Yachts' Announcement of New Board | Oyster Yachts". www.oysteryachts.com. Retrieved 12 April 2019.
  19. 1 2 "Oyster sets sail as manufacturing starts in Wroxham". www.oysteryachts.com. Retrieved 24 August 2018.
  20. ↑ Fretter, Helen (9 May 2024). "Oyster back in profit". Yachting World (Magazine). Bath, UK. p. 17.
  21. ↑ "Ipswich: Luxury yacht builder Oyster Marine acquired by Dutch investors". Ipswich Star. Retrieved 24 August 2018.
  22. ↑ "Oyster 625 Yacht Blue Jeannie: winner of the 2012 'Best Luxury Cruiser'award — Yacht Charter & Superyacht News". www.charterworld.com. Retrieved 24 August 2018.
  23. ↑ "Happy sailing with top sailing yachts - 2LUXURY2.COM". 2LUXURY2.COM. 2 May 2014. Retrieved 24 August 2018.
  24. ↑ "Sailing Today Awards 2016 - all winners revealed - Sailing Today". Sailing Today. Retrieved 24 August 2018.
  25. ↑ "OYSTER SCOOP DOUBLE AWARD COURTESY OF SAILING TODAY". www.oysteryachts.com. Retrieved 24 August 2018.
  26. ↑ "OYSTER 745 WINS BOAT OF THE YEAR 2018". www.oysteryachts.com. Retrieved 24 August 2018.
  27. ↑ "Building the Brand : Programs : 3net : Discovery Press Web". 24 August 2015. Archived from the original on 24 August 2015. Retrieved 24 August 2018.
  28. ↑ "Oyster World Rally 2017-19". Oyster World Rally 2017-19. Retrieved 24 August 2018.
  29. 1 2 "Oyster World Rally: August 2018 Update | Oyster Yachts". www.oysteryachts.com. Retrieved 24 August 2018.
  30. ↑ "Sail Around the World | Oyster Yachts". oysteryachts.com. Retrieved 9 May 2024.
  31. 1 2 3 "Oyster Events | Oyster Yachts". www.oysteryachts.com. Retrieved 24 August 2018.
  32. ↑ "Previous Models - UFO 34". Oyster Yachts. Retrieved 1 December 2017.
  33. ↑ "Oyster 26 - Oyster Yachts". www.oysteryachts.com.
  34. ↑ "Oyster 53 Review: New Zealand Built Cruiser". www.jordanyachts.com. JORDAN YACHT AND SHIP COMPANY. 11 May 2010. Retrieved 12 November 2018.
  35. ↑ "First Oyster 100 - Yachting World". 12 November 2009.
  36. ↑ "Yacht Hull 100/03, an Oyster 100 Superyacht built by RMK Marine". www.charterworld.com.
  37. ↑ "RONA II - Sail On Board". Sail On Board. Retrieved 24 August 2018.
  38. ↑ "Lord Rank sinking Yachting World". 10 June 2010. Retrieved 15 March 2019.
  39. ↑ "Sailing and STV" . Retrieved 15 March 2019.
  40. ↑ "Alba Venturer | Our Fleet - Ocean Youth Trust Scotland". Ocean Youth Trust Scotland. Retrieved 24 August 2018.
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