Today Vanguard, the North American manufacturer of the Laser sailboat and other lines of small boats announced its sale. Effective immediately, Gavel Securities Limited (the holding company of Performance Sailcraft Europe Limited - PSE and Laser Sailboats Limited - LSB), has acquired Vanguard Sailboats.

Chip Johns (former president of Vanguard) and David Graham (current president of Vanguard and director of PSE) have spoken at length about the great value of merging the two companies for some time; Gavel acquiring the shares of Vanguard is the best outcome for all parties. Chip Johns will stay on indefinitely as a consultant to Gavel as the integration and transition takes place.

“I am delighted we managed to close this transaction” stated David Graham. “It will create opportunities for employees, the industry, and most importantly the sport of dinghy sailing, a positive move for all concerned. Vanguard / PSE have many successful classes other than the Laser class, for example (amongst others) the Sunfish and Laser SB3. This transaction will allow further development / distribution of all classes”

“Combining the two well respected builders from the two continents will be incredibly positive for the growth of dinghy sailing,” said Chip Johns, former president, Vanguard Sailboats. “The combined companies will be able to focus more resources on promoting and growing the sport.”

For more information about Laser sailing you may visit the Torresen Marine Laser web site at Laser Sailing Direct. For more information about Sunfish sailboats you may visit the Torresen Marine Sunfish web site at Sunfish Direct.

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