Reward Finance Group helps company push the boat out
Hampshire-based, Quaestus Yachts, is to turn the concept for its new 60-foot luxury yacht into reality with help from a £650,000 working capital injection from Reward Finance Group.
The company forms part of the successful Quaestus Group, which includes freight services, vehicle maintenance, and engineering, and was born out of director Ray Davis’s interest in boats.
Using Dixon Yacht Designs, one of the world’s leading yacht design studios, the company is aiming to provide the ultimate cruising experience. Retailing at more than £1.5m each, the company will be using the latest manufacturing and infusion techniques and will offer the buyer a customisable interior.
With the mould in place, the company required a short-term working capital injection to begin production of the Quaestus 60. Graham Shaw of GMS Services introduced the company to Reward Finance Group, which provided the necessary funds.
Ray Davis is now looking forward to seeing the concept through to completion. “I have always been interested in boats and a group of us, who share my passion, got together to invest in the building of a top of the range luxury yacht,” he said.
“Its construction provides an excellent fit with three of the companies within the group, as well as a number of industrial tenants within our property, as they have expertise within the boat building industry.
“It was great to meet Alan Sanderson and Tim Stafford of Reward who were impressed with what we have achieved to date and the luxury specification of the finished yacht. We were delighted, therefore, when they agreed to provide us with the necessary funds to turn our dream into reality.”
Alan Sanderson, senior relationship manager at Reward, added. “Ray and his fellow directors run an extremely profitable group of companies, and we were very impressed with the design of Quaestus 60. The various stages of production have been carefully scheduled and the skills and expertise provided by the various companies, involved in its construction, gave us great confidence. With sufficient security in place, we quickly provided them with a Business Finance facility.”