Technology
Stronger together
…but Doyle Sails will continue to compete against its former arch rivals
Sustained growth, vigorous and innovative development and strong performance in the grand prix and superyacht sectors have led to private equity giant Oakley Capital adding Doyle Sails to its North Technology Group of companies. The deal was cemented in the
middle of 2024 and is proceeding smoothly with assurances that the strong rivalry between the group’s sailmaking brands will continue to drive design and technology and the industry forward. North Technology Group (NTG)
comprises 13 marine-related companies, including North Sails and its related offshoots, Doyle Sails and Quantum Sails, Southern Spars, Future Fibres and Hall Spars. ‘We will continue to compete with
the other sailmaking brands,’ says Mike Sanderson, president of Doyle Sails. ‘Our intellectual property, our materials, our designs, our people – everything stays within Doyle Sails. The brands remain separate and the fight lives on.’ ‘We have some very passionate
owners who feel part of the Doyle Sails family,’ he continues. ‘They are part of the team and they love to see the underdog fighting against the big guys. We would be doing them and the sport as a whole a disservice if we didn’t respect that.’ Sanderson says sailmaker brand
identity has become an integral part of the sport andmust bemaintained.
58 SEAHORSE
‘Whether you are racing an 8m sports boat or a J-Class, you tend to have loyalty to one brand. You are either a Doyle boat, a North boat, or a Quantum boat etc. It is a big aspect of the sport and there is no doubt that the rivalry has been healthy for all the brands with regards to product development and innovation – and that is good for all concerned.’ NTG CEO SamWatson says the
attraction in acquiring Doyle Sails lay first and foremost in the people: ‘Mike and his teamhave put together an impressive group of people around the world who are really respected and trusted by their owners. Doyle has done a great job of partnering with yacht owners and becoming an integral part of their sailing activities, whether it is racing, cruising, or anything in between. We like that.’ Echoing the commitment to maintain competition between the brands, he says there are real differences between them, their value propositions and why clients choose them. ‘Retaining brand separation and investing in product development and innovation by each of the brands will move the state of the art forward more quickly,’ he says. That is the best outcome for the customers and the industry.’ In terms of access to capital,
Watson says NTG has already identified opportunities. ‘Mike and the Doyle Sails team have brought some ideas to us that we are super-
Above: Proteus
showcasing Doyle Sails Structured Luff
Downwind technology
enthusiastic about. Consequently we have already made additional investments in the business and, absolutely, we will keep doing that. ‘There are also manufacturing
and supply chain synergies that will make the businesses more efficient. Leveraging some of the scale NTG brings to the equation will be re-invested back into R&D.’ Conversations about a potential
deal began about four years ago, with a Covid-related pause in between. It took until the 2023 Metstrade Show in Amsterdam for discussions to resume in earnest. During the hiatus, a bizarre
misfortune led to a good outcome for the Doyle Sails negotiating team. Sanderson and his family were anchored in a bay north of Auckland when the boat behind them caught fire. The owners were ashore on a hike, so, armed with every fire extinguisher he could find, Sanderson leaped into his tender and raced across to fight the blaze. ‘Unfortunately the fire really
caught hold and I wasn’t able to save the boat,’ he says.‘It was a devastating situation.’ However, as a result, a nodding acquaintance with Graham Clarke, the owner of the boat, turned into a friendship and ultimately a valuable business relationship. ‘Graham came from a financial
background and had recently sold his own business to a private equity
ALEX TURNBALL
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