Every business is for sale, pretty much all the time, but we confirmed rumors received last weekend that the biggest fish in all of sailmaking, is now firmly on the block. Insiders told us on Friday that Windway Capital – the entity that owns the entire North Technology Group – is looking to cash out of the conglomerate. They also say that Windway principals Terry Kohler and Pete Reichelsdorfer never bought the place to make money anyway, but it’s become so big and cumbersome that, without a steady profit stream, it’s just not worth hanging on to for them.
But looking for a single cashout is going to be a hard sell, especially with a vast portfolio of mixed performers: NTG includes Edgewater Powerboats, Southern Spars, North U, TPT, North Sportswear, North Flags, North Cutting Systems, and a few more. Get out your wallets, boys and girls!