They can give me some! Yippee!
'What's this, boss? Who's giving you money?' They've sold their yachts, Voice. 'Oh, that's good. Who's sold them?' The yacht people. 'Okay. And they're, er ... these yacht people ... they're going to give you some of the money, yeah?' Oh, hopefully. 'What do you mean ... hopefully?' Well, they sent me the PR email, didn't they? I'm just presuming that it's the first step. The money will be coming soon. 'Oh, I see.' Ha! Be more positive, son. 'Will I get any of this money?' As a Christmas bonus, you mean? 'Yes.' No.
Anyway ...
Paris, France, November 30, 2020 - NextStage, an investment company listed on the Euronext Paris regulated exchange, and specialized in long-term equity investments in mid-sized companies (MSCs), announces the sale of its entire stake in the Fountaine Pajot Group (via the latter's parent corporation, La Compagnie du Catamaran, in which NextStage held 38%).
So, uh ... 'This email is a week old, boss.' So? I deleted loads this morning. This is the only one I liked the look of. 'Because you imagine they're going to give you some money.' I might do more than imagine, Voice. I might insist.
Anyway ...
Fountaine Pajot, an emblematic brand created by Jean-François Fountaine and Yves Pajot in 1976, has developed unmatched expertise in the design and manufacture of elegant marine catamarans for nearly 40 years, allowing it to sell more than 3,000 boats worldwide. Supported by NextStage since 2015, Fountaine Pajot has been able to develop and strengthen its leadership position, becoming one of two French flagships of industrial know-how in the world yachting market.
Okay. Where's the money? I'm waiting.
Led by a team of entrepreneurs with complementary skills, the Group has changed scale thanks to the significant commercial success that has driven strong organic growth, especially abroad (82% of sales), and strategic external growth that has made the firm Europe's 2nd largest manufacturer of pleasure boats. In 5 years, revenues have quadrupled, from €49 million in 2014 to €207 million in 2019, while EBITDA has seen the same increase, climbing to €30 million in fiscal year 2019, versus €6.5 million in 2014.
Okay. I don't want to hear all this. I'll skip a bit.
During this time, the Fountaine Pajot Group also continued to strengthen its industrial and financial fundamentals to make possible enhanced production capabilities as well as innovation-driven productivity gains. These internal improvement plans combined (i) capital expenditures, including an extension of the Aigrefeuille plant in Aunis and the opening of a new digital plant, with (ii) the deployment of Lean Management optimization measures, which have brought industrial flexibility and improved working conditions for employees.
Er ... 'No mention of what they're going to do with the money.' No.
Oh, look - !!! -
The proceeds from the sale and the dividends paid by the group afford NextStage a multiple of x 3.7 and an IRR of 29% on its initial investment that reflect five years of fruitful collaboration. Sale concluded at a valuation identical to that used in calculating NextStage NAV at September 30, 2020.
Er ... 'That's no use to you.' No.
Ah, sod it!
ENDS
...
Anything else?
Well, it's just two weeks to Christmas, kook(s). Then I can have a week off ... to take it easy, oh yes.
But before then I'm going to try the Dan Pena blood coming out of your eyes thing for the next two weeks. 'Haven't you done it before, boss?' Only for two or three days, man. 'Oh.' Yeah.
It's got to be done consistently, for years, for life, you dig?
I'll see how I feel after the two weeks. It's basically the same as the Elon thing or the Goggins thing. They all keep going until the blood comes out of their eyes. 'Ha! And then Goggins keeps going.' Well, he's a nutter, Voice.
Maybe I'll record my demo ...
Stranger things have happened at sea. Just ask Goggins.
Laters!
