Frauscher family buys shares in its shipyard from Asamer and Armin Burger

The Frauscher family is taking back the shares in its shipyard that were sold to the Asamer Group and Armin Burger in 2008.

At the same time the family pursues further economic success with new partners. To prepare for planned expansion, the Frauscher family took partners on board at Frauscher Bootswerft GmbH & Co KG in 2008: 12.5 percent each went to A5 Immobilien GmbH of the Asamer Group and to BOVATE GmbH of the former Hofer and Aldi manager Armin Burger. The investment paid off. In addition to a distinct expansion of the product spectrum Frauscher set important milestones in 2012 on the path to internationalisation with the new shipyard in Ohlsdorf and the founding of a subsidiary in Majorca.

Due to the positive business development the family owners are now taking advantage of the first possible date stipulated in the cooperationagreement to buy back the shares sold in 2008. At the same time Ludwig Nussbaumer was welcomed on board as a new partner.

As co-owner and managing director of BNP Tax Advisors Nussbaumer has accompanied Frauscher Bootswerft for many years and is therefore quite familiar with the company's circumstances. He is taking over 7.5 percent of the shipyard. In addition, the Frauscher family used the opportunity to establish an employee share ownership model. Managing director Andreas Ahamer, who is responsible for organisation, personnel and finances, is therefore taking over 2.5 percent of the company. "Frauscher Bootswerft would like to expressly thank the partners for the excellent cooperation, which prepared the company for future challenges. The increase in sales proves that our production strategy perfectly meets the preferences of our international clients," says Stefan Frauscher. "As a family owned operation, however, we are at the same time very glad that the positive development has made it possible to again have 90 percent of the shipyard in family ownership within such a short time. We are firmly convinced that we will be optimally prepared for future challenges with the new partners Nussbaumer and Ahamer."