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Oyster Yachts

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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.

Oyster Yachts
Company typePrivately held
IndustryBoat 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
Websitewww.oysteryachts.com

History

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Founding

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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

Design

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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

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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

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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

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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

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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

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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

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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

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Sailing Yachts

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

Model Years Designer Built Notes
UFO 34 (yacht) 1974-19XX Holman and Pye +100[32] Aft Cockpit Cruiser/Racer
Oyster 26 1978–1981 Holman and Pye 47[33] Aft Cockpit Cruiser/Racer
SJ35 1983-1985 Stephen Jones 27 IOR ¾ Tonner
Oyster Mariner 35 1979-1982 Holman and Pye 20 Centre Cockpit Ketch
Oyster Heritage 37 1984-1989 Holman and Pye 32 Coachroof or Pilot House
Oyster 37 Holman and Pye IOR One Tonner
Oyster Lightwave 395 1988-1990 Carl Schumacher 31
Oyster 39 1978-1984 Holman and Pye 43 Centre Cockpit Ketch
Oyster 406 1986-1990 Holman and Pye 35 Deck Salon and Coachroof versions
Oyster SJ41 1980-1987 Stephen Jones 33 IOR One Tonner
Oyster 42 1996-2002 7 Aft Cockpit Deck Salon
SJ43 1981 Stephen Jones
Oyster 435 1983-1995 Holman and Pye Ketch and Cutter
Oyster 45 1996-2004 Holman and Pye 23
Oyster HP46 1981-1990 Holman and Pye 25 Ketch and Sloop Versions
Oyster 46 2005-2012 Rob Humphreys 29
Oyster 47 2000-2004 Holman and Pye 13 Modified Oyster 45
Oyster 475 2012-2019 Rob Humphreys 7
Oyster 48 Lightwave 1987-1991 Carl Schumacher 19
Oyster HP49 Pilot House 1991-1997 Holman & Pye 9
Oyster 485 1994 - 2002 Holman & Pye 36
Oyster 49 2001-2007 Rob Humphreys 15
Oyster 495 2022 – present Rob Humphreys >17
Oyster 53 1999-2008 Rob Humphreys 52 Later boats built in New Zealand by McDell[34]
Oyster 54 2008-2013 Rob Humphreys 21
Oyster 545 2014-2016 Rob Humphreys Approx. 8 Restyled 54
Oyster HP53/55 1986-19XX Holman & Pye 49 3 Ketches
Approx. 46 Sloops
Oyster 56 1998-2010 Rob Humphreys 75
Oyster 565 2019 – present Rob Humphreys >3
Oyster 575 2011-2018 Rob Humphreys 46
Oyster 595 2019–Present Rob Humphreys >10
Oyster 61 1995-2000 Holman and Pye 14
Oyster 62 1997-2010 Rob Humphreys 22
Oyster 625 2011 - 2019 Rob Humphreys 21
Oyster 655 2007 - 2010 Rob Humphreys 17
Oyster 665 2014 Rob Humphreys 1 A 655 Custom
Oyster 66 2000 - 2005 Rob Humphreys 13
Oyster 675 2017 – present Rob Humphreys 3
Oyster 68 Holman and Pye 10? 2 produced as Sail Training Vessels (see below)
Oyster HP68
Oyster 70 1996-1999 4
Oyster 72 Rob Humphreys
Oyster 725 Rob Humphreys 3
Oyster 745 2018 – present Rob Humphreys >3
Oyster 80 2
Oyster 82 Rob Humphreys 18
Oyster 825 2002-2017 Rob Humphreys 7 Deck Saloon and Raised Saloon
Oyster 885 2o12-2019 Rob Humphreys 10
Oyster 885 Series 2 2019 – present Referred to initially as the 895
Oyster 100 2010-2012[35] Ed Dubois 3[36] Built by RMK Marine in Turkey
Oyster 1225 2018 – 2019 Rob Humphries >1 Built by Oyster and Pendennis Shipyards
Oyster 125 2013 Ed Dubois 1 Flybridge 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

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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

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Model Years Designer Built Notes
Powerline 390 1990-1991 John Bennett 11 Based on Humber 38 Hull
LD43 / OM43 20

References

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  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. ^ a b "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. ^ a b "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. ^ a b "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. ^ a b 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. ^ a b "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. ^ a b "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. ^ a b c "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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