Cruisers Forum
 


Reply
  This discussion is proudly sponsored by:
Please support our sponsors and let them know you heard about their products on Cruisers Forums. Advertise Here
 
Thread Tools Search this Thread Rate Thread Display Modes
Old 24-10-2017, 23:54   #136
Registered User

Join Date: May 2017
Posts: 12
Re: Nautitech Open 46

Thank you
There are some small changes and there is no dramatic change
The biggest change this contract with B & G
The kitchen remained the same with all the problems they had
They say they have increased the winch
It is possible to upgrade the mattresses and it is possible to add LEDs to the general lighting
Hopefully, we will continue to report progress on the project
Sami is offline   Reply With Quote
Old 25-10-2017, 04:29   #137
Registered User
 
LeeV's Avatar

Join Date: Apr 2013
Location: Md
Boat: 2013 FP Lipari 41
Posts: 1,304
Re: Nautitech Open 46

Thanks for the update. Enjoy the boat and let us know how things go, what you love and what you'd like to change as you get to know her!

Best regards,
__________________
LeeV
Lipari 41
s/v AMERICAN HONEY
LeeV is offline   Reply With Quote
Old 18-01-2018, 16:30   #138
Registered User
 
brainmaker's Avatar

Join Date: Aug 2010
Boat: None
Posts: 85
Re: Nautitech Open 46

brainmaker is offline   Reply With Quote
Old 18-01-2018, 16:46   #139
Registered User
 
brainmaker's Avatar

Join Date: Aug 2010
Boat: None
Posts: 85
Re: Nautitech Open 46

... I took the liberty of creating a thread specifically for the Fly 46 .. see bavaria nautitech fly 46

any thoughts welcome
brainmaker is offline   Reply With Quote
Old 19-01-2018, 09:53   #140
Registered User

Join Date: Jan 2018
Posts: 1
Re: Nautitech Open 46

Quote:
Originally Posted by n46uk View Post
Hi Gary,

I've been following your journey looking at the Nautitech Open 46 over the last 18 months or so and I may have met you at the Grande Motte show last year 2016.

After lots of research we took the punt to buy an Open 46 off plan, placing our order in December 2015 and took delivery in July last year. We've now got 10 months under our belt and around 1100nm sailing on her. Our current cruising grounds are the fairly breezy, lumpy and tidal conditions of Brittany, the English Channel, the Solent and the English coast.

....

I hope these notes help. I understand that Nautitech have sold more owner 46's than charter boats. We feel the Open 46 is definitely more of a sailors boat than the higher volume cat alternatives. We've been pleased with our choice so far.
Hi N46UK

Very good report of yours !
I'm in the process of ordering my own Open46 as well, for a delivery early 2019.

I'm quite experienced in catamaran , after owning an outremer51 for one sabatical year, from France to Caraibs a couple of years ago.

My new project is a cat to sail extensively in the med sea and i don't need the outremer performance ( it was great though ! ) , i'm happy to trade a little less performance with more equipment ( like air con/ heating system , generator ) .

I'm wandering about the sail plan.

What do you have and what are you missing ( in sails and options ) maybe , now that you know your boat very well?
Kalisea is offline   Reply With Quote
Old 14-04-2018, 01:48   #141
Registered User

Join Date: May 2017
Posts: 12
Re: Nautitech Open 46

Can you send more details about the anchor, just how you solved the problem
Could you please send pictures of the solution, thank you very much
Sami is offline   Reply With Quote
Old 14-04-2018, 07:26   #142
Registered User
 
danielamartindm's Avatar

Join Date: Jul 2011
Location: St. Petersburg, Florida
Boat: Leopard 39
Posts: 860
Re: Nautitech Open 46

The helm stations seem especially exposed to sun and weather?
danielamartindm is offline   Reply With Quote
Old 23-04-2018, 09:58   #143
Registered User

Join Date: Oct 2015
Location: San Francisco, CA
Boat: Lagoon 450S
Posts: 182
Re: Nautitech Open 46

Anyone know yet how the liquidation of Bavaria is going to impact Nautitiech?

Gary
iliohale is offline   Reply With Quote
Old 23-04-2018, 10:47   #144
Registered User

Join Date: Apr 2012
Location: Winter Germany, Summer Med
Boat: Lagoon 380 S2
Posts: 1,927
Re: Nautitech Open 46

According to german news Bavaria is undergoing financial restructuring (like chapter 11) and production continues for now.
The order book is full and the business itself is profitable, what is killing them is old debt at high interest rates so this restructuring may actually work.



Nautitech is said to be the most profitable part of Bavaria, so maybe the catamaran production can get through this storm without damage.

Lots of "maybe", I would not place any bets on them at this point in time.
rabbi is offline   Reply With Quote
Old 23-04-2018, 12:48   #145
Registered User

Join Date: Jun 2012
Location: Cornwall UK
Boat: Mahe 36 sold
Posts: 32
Re: Nautitech Open 46

This is Key Yachting's view

Nautitech Catamarans and Bavaria Yacht-BAU 23rd April 2018 - Key Yachting
JohnyV is offline   Reply With Quote
Old 23-04-2018, 13:11   #146
Registered User

Join Date: Oct 2015
Location: San Francisco, CA
Boat: Lagoon 450S
Posts: 182
Re: Nautitech Open 46

Quote:
Originally Posted by JohnyV View Post
When I took a tour of the Nautitech factory a year or so ago it was clear that the majority of the materials and parts, including all the interior furniture, were being sourced by Bavaria. So if Bavaria is having issues with their suppliers then this would likely also impact Nautitech.

Gary
iliohale is offline   Reply With Quote
Old 23-04-2018, 13:19   #147
Marine Service Provider

Cruisers Forum Supporter

Join Date: Jul 2007
Location: Marmaris
Boat: FP Orana 2010, Hlia 2013, Catana C 47 2013, Nautitech 46 Fly 2018
Posts: 1,354
Re: Nautitech Open 46

Well I have ordered a Nautitech 46 3 months ago and paid already one third. The dealer says that there is nothing to worry and that the cat business is going as business as usual. Hope he's right


Cheers


Yeloya
yeloya is offline   Reply With Quote
Old 23-04-2018, 16:55   #148
Registered User

Join Date: Aug 2017
Posts: 5
Re: Nautitech Open 46

Same here. I have one under construction, expecting delivery in May. They already have a good chunk of change from me. Im trying to figure out whats going to happen through my dealer in La Rochelle, France.
Cano46 is offline   Reply With Quote
Old 23-04-2018, 17:16   #149
Registered User

Join Date: Dec 2012
Location: Me Houston boat TMM Tortola
Boat: Nautitech Open 46
Posts: 218
Re: Nautitech Open 46

Me too, delivery promised for September. We are doing the Arc so I hope they dont slip too far.
Thinking about a factory visit in a couple of weeks to get some comfort level.
Regards
Paul
Steel sails is online now   Reply With Quote
Old 23-04-2018, 21:38   #150
Registered User

Join Date: Nov 2016
Location: Sausalito
Boat: Catalina 42
Posts: 54
Re: Nautitech Open 46

This is pretty astonishing news given the size of Bavaria.

Having lived through private equity investments that load the balance sheet with debt, it's not hard to understand. It can only take a couple of mediocre years to create a problem and it appears that the Bavaria mothership was struggling for a while. I don't know if this is the case here, but the banks that loan the money to help fund the acquisition (in this case by Oaktree) put covenants on the financials so if certain financial targets aren't met, it triggers very aggressive payments of the debt, which can crush a business. It's basically the bank's last ditch effort to get anything back on what might be perceived as a potentially failing investment.

I've been involved with a business that came damn close to bad problems along these lines even though the company was very profitable. The convenants will require you keep a certain ratio of profitability to debt, so you can be making money and still get hit with this - because you simply weren't making enough to avoid the triggers. Typically only the executive team know about these issues - and it may even be limited to the CEO and CFO and Board. Don't expect anyone else to know what is really going on.

This will always be a problem when you buy anything from a private company because you can't see the financials - and they will always give you a rosy picture - they have to in order to stay in business or everyone will just panic. Just like Oyster, it all looked great until it didn't. And it's always a surprise because you can't see the debt load, overall P&L, and know the bank convenants. It will certainly be more of an issue with companies with PE investors vs. family-run companies because it's the PE firms that pile on the debt and set aggressive targets. At the very least, you can probe on how a boat company is financed - who is backing it and what kind of organization they are.

Having said that, everything about Nautitech makes it sound like a successful business, so at the very least, it could be sold off or spun off - which would get shareholders and banks something back and keep owners whole. It sounds like Bavaria proper was building losses, so it could be contained by simply selling Nautitech. It would be pretty logical. I hope so. I'm rooting for that outcome and it's definitely possible.

I also did this (bad) Google translation of a German article on Boote, which seems optimistic related to Nautitech.

"The takeover of the French catamaran brand Nautitech in 2014, driven forward even by Henkel's predecessor Constantin von Blow, is rated as a success. This company's tenderloin could be exempted from the process, given the continued boom in the cat market and the location of the La Rochelle shipyard on the French Atlantic coast, as the operation is highly profitable. He would also be a good to divest company part, should not find a buyer for the entire company construct."
SFer is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Nautitech Open 40 brainmaker Multihull Sailboats 134 09-11-2019 04:19
Nautitech 40 jrb1978 Multihull Sailboats 1 21-07-2008 09:12
Selling My Charter Company and My Nautitech 47 Catamaran in Phuket, Thailand amaia Classifieds Archive 0 27-05-2008 01:34
Nautitech 44, any comments or owners?? shadow Multihull Sailboats 11 25-08-2007 10:07

Advertise Here


All times are GMT -7. The time now is 22:22.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.