Portfolio
Nova Rodman
| Sector | Industrials |
|---|---|
| Investment type | Growth Capital |
| Region | Spain |
| Status | Former investment |
Nature of Business
Founded in 1974, the Rodman Group is Spain’s longest-established and leading player in the boat building sector. The Rodman Group’s diversified product range is split into three divisions: steel boats, professional sailing boats and pleasure craft. The business has five boatyards located in Spain and Portugal, including the state-of-the-art boatyard Rodman Lusitania, one of the most technologically advanced in Europe.
Rodman has a presence in over 43 companies and employs over 1,000 staff.
Investment Overview
3i invested in July 2004, taking a minority stake and working in partnership with Rodman’s management to drive the company’s international expansion and fund new product initiatives which would maintain Rodman’s technological leadership. The business now has an export rate of more than 85% of production.
We introduced Miguel Iraburu through our Business Leaders Network. Miguel has over 20 years experience in the sector and has brought this knowledge to the Board as non-executive Director. We sold our stake in Rodman in June 2010.
