Lewmar is a leading sailboat and powerboat equipment supplier to the leisure marine market. The Company designs and manufacture a range of anchor windlass, bow thrusters, hatches and portlights, sailboat hardware, winches and steering equipment.
Bestport first invested in Lewmar in April 2014 alongside Shackleton Ventures to provide growth capital to facilitate the design and launch of new products, helping the business to open up new markets and expand.
Under guidance from Bestport, the Company grew its revenues by over 50% to £56.2 million with EBITDA growing by over 200% to £5.3 million. In August 2019 the business was sold to Lippert Components Inc, a subsidiary of NYSE-quoted LCI Industries for £35m. The sale represents a return of 6.1x for Bestport Investors on their original funds invested.