Finnish boatyard changes ownership

By IBI Magazine

Finnish motorboat producer Finn-Marin has been recapitalised after the company's former owners, Osmo Roukala and Jarmo Kinnunen, bought back all the shares in the company.

In 2006, Roukala and Kinnunen sold the majority of the Finnish glassfibre boat manufacturer's shares to a domestic group of venture capital investors.

"By purchasing all the shares we wanted to ensure the continuation of our operations in Kokkola during the hard times presently facing the boating industry. We have established our company in 1990 and now we want to take the company through the recession and to new growth. We believe we have the assets to further strengthen our already well-positioned brands," says Roukala and Kinnunen.

"Of course succeeding requires that we will be able to convince our customers, suppliers and other cooperation partners with our work, and to re-build a cooperation concept which was so successful previously. It will require cooperation and faith," say the new owners.

Finn-Marin's range of glassfibre boats includes two well-positioned brands — FinnMaster family boats and the Grandezza premium collection. The company was founded in 1990 and is headquartered in Kokkola.

According to a group statement, Osmo Roukala will now act as managing director of Finn-Marin and Jarmo Kinnunen will be chairman of the Board of Directors.

(22 December 2009)