Oyster - A New Beginning

Oyster is delighted to confirm it is now under new ownership. Richard Hadida, a British entrepreneur and founder of global software business Evolution Gaming Group and a lifelong sailor, has acquired the business with the firm commitment to re-establish Oyster as the premium designer and manufacturer of yachts in the world. Richard’s investment has secured the future of the Oyster story. He has established a new management team with both the experience and capability to deliver a fast and effective transformation. The future for Oyster looks very bright

Message from Richard Hadida:I am a lifelong, passionate sailor and yachtsman. This culminated for me in 2014 when I was fortunate enough to become the very proud owner of a new Oyster 885 ocean sailing yacht. These last four years sailing my Oyster have only served to strengthen my belief that Oyster is the absolute pinnacle in yacht design.
 
But Oyster is about more than just the yachts itself. When you buy an Oyster, you truly become part of the Oyster family – this is what makes owning an Oyster so special and why I felt it was so important that we save this prestigious British yacht builder and continue to nurture and grow the Oyster Group for the long term.
 
I have established a fantastic management team to help me return Oyster to its rightful place, including Kim Stubbs, who lead the hugely successful turnaround of Sunseeker.
 
Our immediate priority as a new management team is to quickly re-build the design and manufacturing teams, then to ensure the completion of all the “in-build” projects that have until today been paused while Oyster completes this change in ownership. We will be in touch with all our customers immediately to get this process moving forward and to ensure our customers get the service they deserve.
 
I truly believe we can restore Oyster to its former glory and equip the Oyster Group for the next 100 years. I look forward to embarking on this exciting journey with you.
 
Yours sincerely,
 
Richard

Richard Hadida

CHIEF EXECUTIVE OFFICER

Richard is a successful British entrepreneur. In 2006 he founded Evolution Gaming, the leading gaming software business, which he subsequently floated on the Swedish Stock Exchange with a Market Cap of £2 Billion. Evolution employs over 5000 people across 10 countries. Richard has been enjoying sailing Oysters for the past 5 years. Richard brings an exciting vision for the future of Oyster Yachts and is committed to Oyster and the Oyster story for the Long Term.

Paul Adamson

Chief Commercial Officer

With a mix of Oyster knowledge and business, Paul brings a unique combination of skills to our team in the areas of sales, marketing & outstanding customer service.  A former professional sailor, Paul has a wealth of Oyster yachting knowledge both as a skipper and a consultant for Oyster owners. He has been the client representative during the build of various Oysters, including Oyster 885-01 which he skippered in the inaugural Oyster World Rally. He also consults and advises private clients on Super Yacht acquisitions along with yacht management.

The leadership skills that Paul developed whilst managing yachts and consulting led him into the business world. Previously Paul has worked with business leaders and sales teams to fulfil their potential by either keynote speaking or by developing in-house cultural change and performance programmes. Pauls brings an abundance of energy, passion and enthusiasm to the team and is dedicated to rebuilding Oyster for the long term and telling the new Oyster story.

Kim Stubbs

Chief Operating Officer

Kim led a senior management team at Sunseeker and was a senior member of PWC’s in-house turnaround team. As part of the executive leadership team, he helped transform Sunseeker from an EBITDA loss making position back to profit over 24 months. Kim led the manufacturing introduction of 5 major new products including the highly successful Manhattan 52, the Manhattan 66 (again a resounding success), the revised Predator 57 fast yacht, the 76 yacht and the flagship 131 Superyacht. In addition to his recent Sunseeker role, Kim has held business development roles in professional services, building market facing propositions and selling new business. Prior to this, he held divisional P&L responsibility at both Xerox (reprographics) and Philips (business products) leading sales, marketing, product management and manufacturing functions within product divisions under his span of control. Kim is also a chartered engineer and accomplished sailor and loves the Oyster Brand.

Becky Bridgen

Chief Financial Officer

Becky has advised a number of companies on the South Coast across a range of transactions, as part of PWC's Deals team, working with family businesses through to FTSE listed companies. She has worked with many manufacturing operations and her experience with yacht builders includes leading reviews of Sunseeker and Palmer Johnson, as well as assisting the RNLI. She is a chartered accountant based in Southampton, loves sailing, and looks forward to being part of this new chapter of the Oyster story.