Nimbus

Nimbus Group, the manufacturer of brands including Aquador, Bella, Edgewater, Falcon, Flipper, Nimbus and Paragon Yachts, has entered into a dealer distribution agreement with ACY Yachts for the sale of Nimbus-branded boats in Texas and the Caribbean.

The appointment comes weeks after Nimbus announced the closure of its Finnish production facilities in Kuopio and Luoto due to the ongoing weak demand in the smaller end of the boating market.

Today (5 December 2024), Nimbus confirmed that it has completed negotiations with relevant trade unions over the closure. The plant in Kuopio – which primarily produces smaller boats – will gradually shut down in 2025. A total of 108 employees, most of whom are blue-collar, will be laid off because of the closing. More layoffs will be confirmed at Luoto.

Nimbus Group says its sales decreased by 20 per cent during the third quarter 2024. The business has tied up a lot of capital due to low demand, which has also had a negative impact on its cash flow.

Nimbus says the group’s brands are not affected by the closing. In parallel with the closing, Nimbus Group is carrying out, as previously announced, a “review and adaptation of the company’s product portfolio”. While waiting for it to be completed, Nimbus Group retains the provision for a restructuring reserve of a total of SEK55m (£3.95m) that was announced during the third quarter 2024.

Nimbus Boats signs ACY Yachts distribution deal

Based in Annapolis, Maryland, ACY Yachts is a yacht dealership with over 40 years of experience in yacht ownership strategies. A subsidiary of the Fountaine Pajot Group, ACY Yachts operates in retail sales and charter services across various key boating markets in the US and the Caribbean.

Under the terms of the agreement with ACY Yachts in the US and Caribbean, the firm is granted exclusive rights to retail Nimbus boats along the Texas coastline and in the US and British Virgin Islands. The company will also offer Nimbus boats in its charter programmes, which operate under the subsidiary name Waypoints. Waypoints provides full-service charter operations in Maryland, Florida, the Bahamas, British Virgin Islands and US Virgin Islands.

“This agreement offers Nimbus Group a great opportunity to expand within the premium segment in some of the world’s most interesting boating markets, a key strategic priority for Nimbus Group,” says Jan-Erik Lindström, CEO of Nimbus Group.

Chris Bent, president of ACY Yachts, adds: “ACY’s yacht ownership program allows prospective boat buyers to first experience the Nimbus yachts through charters or rentals, guiding them on the journey to eventual ownership – all while enjoying some of the world’s most stunning destinations.”

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