SURREY, UNITED KINGDOM—August 11, 2021–
Janousek Racing Boats Limited (the “Company”) announced today it has entered into a non-binding letter of intent (the “Letter of Intent”) with a private equity group (the “Buyer”) for an acquisition of the Company’s operations as well as the acquisition of the Company’s business including its holding in Stampfli International Limited.
The Buyer is committed to continuing the excellent reputation of the Company and making significant investments to expand its operations. The Buyer is led by a world- class management team with significant experience in leading innovative, high-growth companies as well as some team members with vast international rowing expertise. Janousek’s management team believes the Buyer is a compelling investment opportunity.
Phil Gregory, the Company’s Chief Executive Officer, said, “The Buyer is a highly differentiated and innovative player that is expected to reinforce both the Janousek and the Stampfli brands. This acquisition will provide Janousek and Stampfli with more means to expand significantly their product offerings whilst maintaining the excellent reputation and client services it is known for.”
The intention of the parties is to keep all staff in place. Upon successful completion of the transaction, it is intended that Mark Banks, formerly Chief Coach of Leander Club (the most successful rowing club in the world), will be appointed as Chief Executive Officer and Daniel Perez will be appointed as Vice President of North America Sales. Phil Gregory will remain as a Director of the Company.
Completion of the transaction is subject to, among other matters, the completion of due diligence, the negotiation of a definitive agreement providing for the transaction, satisfaction of the conditions negotiated therein and approval of the transaction by the Company’s shareholders.
About Janousek and Stampfli
Janousek Racing Boats established 1981 has celebrated 40 years in business this year. The Janousek range is aimed at schools, universities, and clubs, having a full carbon construction with painted finish. Parts are all aluminium with an option of aluminium 3 stay riggers or aluminium wing riggers. Performance boats that last at an affordable, budget price using the best possible materials on the market. Range includes single, double, triple, four and eight all built to or under FISA minimum weight.
Stampfli Racing Boats established 1896 has celebrated 125 years in business this year. The Stampfli range is aimed at the higher end of the market having full carbon construction with carbon finish inside and painted hull and canvas. All carbon fittings inside the boat including seats with the option of aluminium 3 stay riggers, aluminium wing riggers or carbon bow or stern wing riggers on sculling. Range includes single, double, triple, four and eight all built to or under FISA minimum weight.
All boats meticulously hand built to order in Byfleet, Surrey by professional, skilled craftsmen with collectively over 250 years boat building experience between them.