Yellowfin propulsion up for sale

Yellowfin, a unique marine propulsion technology business, has gone into administration and is being marketed for sale by leading asset consultancy Edward Symmons on behalf of Administrators, RSM Bentley Jennison & Co LLP.

The Southampton based firm, Yellowfin, was founded in 2001 and has invested £13m in the development of a new propulsion system for motorised vessels of between 20 and 150 ft. The product, “Variable Surface Drive Technology” (“VSD”), uses compact, lightweight drive systems that reduce contact with the water, thus minimising friction. This allows VSD to offer comparable boat performance but with a fuel saving of up to 50% over current drive systems.

The prototype and testing phases complete, the technology is now ready to enter pre-production and manufacturing phases, with an option for the product to enter the market within five years. Market data estimates the technology could have a potential market of up to £2.6bn.

Steve Mason, Partner at Edward Symmons responsible for the sale comments: “Following the administration of Yellowfin, this niche business is being sold along with the assets of the company. Of most interest to an investor is the patented technology of the business, for which intellectual property rights have been secured. With such a substantial opportunity to complete the final phases of production and bring the technology to market, with or without the existing manufacturing partner company, we anticipate receiving a lot of interest in this sale.”