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Linssen Yachts passes to third generation

January 13, 2011

The Maasbracht family business Linssen Yachts is passing from the second to the third generation. Today at the offices of civil-law notary Zeestraten in Heerlen, a new company was incorporated in which Yvonne (31), Jac (31) and Ruben (29) Linssen became shareholders. Management team members Marielle Timmermans (43) and Leon Geraedts (40) also became shareholders. The Linssen family will continue to have a controlling interest in the business. It was also stipulated that the day-to-day management of the company would be transferred to the new shareholders, with Ruben Linssen as managing director.

Linssen Grand Sturdy 500 Variotop MKII

Linssen Grand Sturdy 500 Variotop MKII

The current shareholders Jos (59), Harry (58), Jan (56) and Peter (51) Linssen will continue to be involved in the new business as financiers, but will gradually reduce their participation. NV Industriebank LIOF will retain its 30% interest in the business as an external shareholder.

Linssen Yachts BV, which was set up in 1949, is market leader in the steel motor yacht 8 to 16 metre segment. The prices of the Maasbracht-built yachts vary from approximately € 100,000 for the smallest model up to € 1,200,000 for the boatyard’s flagship: the Linssen Grand Sturdy 500 with the patented Variotop, a cabriolet hood developed by Linssen for use on its boats. Linssen is represented in 21 European countries by a network of agents and dealers. LIOF became a shareholder in 1998. Linssen Yachts currently employs 106 staff.

Jos Linssen explains the handover as follows. “The family is very pleased about this development. For us, the continuity of the business has always been paramount and it requires a timely and well-considered process of succession. Today we have reached a milestone and have laid down important agreements for the future. We are proud that we can look forward to a new successful Linssen Yachts era with our third generation.”

Jérôme Verhagen, managing director of NV Industriebank LIOF continues. “Business succession within a family firm is not always easy. The way in which this process has been handled at Linssen Yachts and how it has resulted in specific agreements is a perfect example of how things should be managed. And as an external shareholder, we are delighted to continue our association with Linssen Yachts. It is an independent, autonomous and innovative Limburg family business – just the type of firm that LIOF is targeting.”

Yvonne Linssen speaks on behalf of the third generation. “I wish to emphasise that we are extremely proud to be able to continue the work of our parents and grandfather. This is a very healthy business that has proved during the recent financial crisis to be as solid as a rock. It is a splendid challenge for us to steer this company towards an even better future.”