Jongert strengthens financial position with capital from VEP
Jongert, a leading Dutch builder of luxurious sailing and motor superyachts, has significantly strengthened its capital base and financial clout. Investment company Value Enhancement Partners (VEP) has acquired a minority interest in the yard.
A number of setbacks during the construction of its new facilities and a temporary shift in the superyacht market had moved the yard into somewhat turbulent waters. In 2007, management paved the way to improvement by focusing its efforts fully on the construction and refit of sailing and motoryachts. Various non-core activities were sold off. Today, Jongert expects significant growth and the availability of new capital will allow Jongert to invest in the future and fully exploit the opportunities in the motoryacht segment.
Jongert has a worldwide reputation for the exceptional quality of its yachts. “This is the result of 55 years of experience,” comments Jan Jongert, CEO and majority shareholder of the yard. “We have always been among the leaders in the superyacht industry, continuously innovating in yachtbuilding and achieving the highest service levels for our clients. Together with VEP, we now intend to retake pole position.”
VEP already has experience in the superyacht industry. “The Netherlands has a leading role in this fascinating industry,” adds Frits Thieme from VEP. “Jongert combines traditional standards of craftsmanship with a modern and efficient operation. It also has the world’s most modern yard, solely designed for building superyachts.” Jan Jongert concludes: “We are convinced that this new influx of capital will fully regain the confidence of the market.”