Sealine sold to Hanse

Thu Jun 27 2013, 13:42 PM

Aurelius subsidiary acquires UK boatbuilder

The joint administrators of Sealine International Ltd have sold the Sealine brand to a newly founded subsidiary of Aurelius, a pan-European investment holding and owners of Germany’s HanseYachts.

The acquirer plans to produce the 380 and 450 series models through contract manufacturers and those assets will be shipped overseas. The remaining unfinished boats in that series have been acquired by another entity whose intention is also to ship those assets overseas.

The joint administrators are now in the process of conducting a disposal of the remaining plant, machinery and equipment and stock.

The remaining 34 employees will be assisting the joint administrators with the disposal processes and removal of assets from the freehold premises in Kidderminster, which will be marketed for sale in due course.