Archimedia acquires substantial Wally stake...

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Archimedia acquires substantial Wally stake...

Industry News

The brand investor adds to a portfolio that already includes stakes in Reuters, The Guardian, The Wall Street Journal, Vogue and many other innovation and leisure businesses.

NOVEMBER 2010

Wally, the Monaco-based designer and builder of high-performance motorboats, sailboats and skis, has secured a substantial injection of growth capital from value-added investment portfolio Archimedia.
“We believe Archimedia’s investment endorses the quality of our products and the tremendous potential of our brand,” says Luca Bassani, Wally’s founder and president. “This investment provides us with an enhanced ability to develop new models and new markets over the coming years... Archimedia’s extensive experience with innovation and growing consumer franchises makes them an ideal partner.”
John Hunt, founder and chairman of Archimedia, is equally effusive regading the deal.
“We are delighted to partner with Luca and the team at Wally,” he says. “The strong growth of the Wally brand over the last decade is a testament to their unmatched ability to innovate in both technological and aesthetic forms and we look forward to accelerating this growth... Wally is unusual in the yachting sector at present, because it has a strong pipeline of new orders and products... Wally fits well with our focus on top quality brands with highly differentiated product offerings.”
Since its inception, Wally has launched 42 sailing yachts and more than one hundred motorboats, most of which have been Wallytenders, and currently has under construction the world’s largest all-carbon super-sailer, the Wally 50m (164ft).

For more, www.wally.com

© Phil Draper