But RIB specialist aims for continuity of winning formula
RIB specialist Gemini Marine is finalising a management buy-out deal that will see the Cape Town company transferred to new ownership.
A new management team will be led by the company’s current Global Sales and Marketing Manager, Gerhard Neethling, and General Manager Juan Oberholzer, Gemini said in a statement. The team will take over from company co-founder Jeff Stephens, current chief executive Graham Symmonds, and chief operating officer Henning Blaauw.
Gemini produces customisable inflatables from 5.05 M to 10.6 M for both the leisure and commercial market.
“The new management team will embed the knowledge from this rich seam of experience in future operations,” Gemini said. “To ensure continuity, a fully planned, phased transition is underway.
A handover of existing management knowledge, fundamental to the future success and growth of the company is being implemented.”
“We would like to thank Graham, Jeff and Henning for their many years of service at the helm of Gemini Marine. Their knowledge and experience will continue to be utilised in an advisory capacity. They remain much valued members of the extended “ex-officio” management team,” the statement said.
Neethling said the company hoped to build on its strong brand and customer base to grow the business internationally: “We are ambitious and are busy planning the long-term sustainability of our business and will deliver great products to the market.”
“Undoubtedly 2020 has been a very tough trading year due to the effects of Covid-19. We are looking forward to embracing the additional roles and responsibilities and are very excited about the challenges in developing Gemini’s business to even greater levels,” Neethling said.
Oberholzer said the business had been financially restructured in line with the new growth plan: “We are implementing some operational and structural changes that will drive efficiency and effectiveness.
These will push enhanced levels of responsiveness for our customers.”
“We also plan to make changes to our product mix and improve our overall processes to better streamline the business,” Oberholzer said.
Gemini last year signed a distribution agreement with French distributor Diffusion Atlantique Marine Ayroles (DIFAMA). At the time the company said it was looking to grow its European footprint, with other distribution agreements likely to follow.