Gavel of UK acquires Vanguard of USA

We are pleased to announce that Gavel Limited of UK (the holding company of Performance Sailcraft Europe “PSE” and Laser Sailboats “LSB”), has acquired Vanguard Sailboats of Rhode Island, USA “Vanguard”. Vanguard manufactures and distributes numerous famous sailing dinghy brands and is active in numerous classes including the Sunfish, Vanguard and the North American rights to Laser. The business also includes Seitech Product and three company-owned retail outlets in Chicago, California and Rhode Island.

Chip Johns [ex president of Vanguard] and David Graham [current president of Vanguard and director of PSE] have spoken at length about the great value of merging the two companies for some time. Gavel’s acquisition of Vanguard is a great outcome for all parties and the sailing classes involved. Chip will stay on as a consultant to Vanguard as the integration and transition takes place.

“I am delighted we managed to close this transaction” stated David Graham, “it will create opportunities for employees, the industry, and most importantly the sport of dinghy sailing, and is a positive move for all concerned. Vanguard / PSE have many successful classes other than the Laser class, including the Sunfish and Laser SB3. This transaction will allow further development and distribution of all classes”.

Vanguard and Gavel are both efficient and growing businesses in their own rights. This merger is focused on further development of the businesses respectively and on expanding participation in the sport of sailing. Our valued customers will see enhancements to the current level of service they have come to expect and we are determined to deliver an improved experience for all. Equally, we are committed to improved service downstream.

“Combining these well respected companies from the two continents is incredibly positive for the growth of dinghy sailing. The enlarged group will be able to provide more resources to promoting and growing the sport” said Chip Johns.

On hearing the news of the acquisition the Laser Class President, Heini Wellmann, and Executive Secretary, Jeff Martin made the following comments: “We welcome this development because it will both strengthen and simplify the one design aspects of the Laser class. It will also help to further develop the class throughout the world and in particular has the potential to further the growth of and participation in the Laser class in emerging nations.”