UNCERTAINTY hanging over Southampton-based marine outfitters Nicholson Interiors has lifted now that the operation has been acquired by an Australian company.
Nicholson Interiors, which went into administration six weeks ago, is now owned by Image Marine Pty Ltd of Henderson, Western Australia and already work has been transferred to the factory in Empress Road, Southampton.
In recent years Nicholson Interiors built up a strong international reputation, especially for its work on luxury superyachts and high-speed ferries.
Image Marine is a wholly-owned company of Austal, the parent company of another Australian operation, Oceanfast, that worked alongside Nicholson Interiors on a major project building the exploration yacht Aussie Rules for world-renowned golfer Greg Norman.
Former director Roger Nicholson, said: "The foundation of a successful partnership in place created a lifeline.
"John Rothwell, the chairman of Austal, was contacted while he was at the Monaco Boat Show and asked if his company would be interested in a takeover. Initial talks started over a weekend and by the following Monday key people within the Austral group had been mobilised to carry out an assessment of the company and its future potential.
"After a few days and cliffhanging negotiations with BDO Stoy-Hayward, the company's administrators, a deal was made fighting off several other interested parties.''
The new company will continue to be called Nicholson Interiors but be headed by Wayne Williams from Austal. Some of the existing management team has been retained in a new structure together with a team of 50 craftsmen from the original 70.
Mr Nicholson, who started the company with his wife Linda in 1985, will help through the transition and then resume a role in sales and marketing. "We are very thankful to our new owners who have paralleled interests and I can see tremendous success for the future together,'' he said.
The new owner's intention is to use the Southampton facilities for its order book, together with Nicholson's own client base, to progressively increase capacity to new levels.
Mr Williams said: "We have already transferred work from our companies in Australia, as well as successfully negotiating orders back into the new company and the transition period has started well which has made my job easier than expected.''
At the time of administration, Edward Head of BDO Stoy Hayward said Nicholson Interiors had suffered losses on a number of contracts.
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