Jean-Claude Ibos, Chairman of the Wichard Group, talks to BoatIndustry about the genesis and reasons behind the acquisition of Australian group Ronstan, which joins the French equipment manufacturer's portfolio with its Ronstan, Andersen and Frederiksen rigging brands.
What process led to the acquisition of the Ronstan Group? How did the exchanges begin?
Ronstan had been identified among other companies as having potential synergies. On the one hand, they have equipment that we didn't have in our catalog, such as winches, rails and carts, and are also present in light sailing. On the other hand, even though the Wichard Group already has a strong international presence, Ronstan is well established in Australia and Asia, as well as in the United States, whereas we are mainly present in Europe and the United States. So there was an interest in principle.
The first contact came from Ronstan. They liked the logic of the Wichard Group, with brands that remain visible. They felt that we were a dynamic partner who could be a good fit. It took some time, as Covid had passed between the two, but we were able to finalize and reach an agreement signed on November 8, 2023.
What are the synergies between Ronstan and the rest of the Wichard Group? Are they in distribution, production or design?
We're keeping our existing distribution networks up and running. In fact, in some countries we have the same distributors. The idea is rather to take advantage of existing infrastructures in certain countries. The short-term commercial synergy is more in the OE sector. The Wichard Group has the capacity to facilitate the proposal and integration of Ronstan's OE offer at worksites.
In production, our know-how is quite different. The Ronstan site in Indonesia may be used on the margins for a few low value-added Wichard products. Overall, the main advantage will be to be able to take advantage of the Group's in-house machining, assembly, forging and plastic injection capabilities, rather than outsourcing.
From a design point of view, product development is a Group competence. The resources of Ronstan's design office will be able to work for all brands and complement Wichard's skills.
How does the acquisition of Ronstan fit in with the Group's strategy, in terms of offering and internationalization?
The Wichard Group's strategy is based on 2 pillars: organic growth through product innovation, new markets and industrial operations, and external growth. We had already made acquisitions abroad, with our trading subsidiaries Wichard Inc and Wichard Pacific, by buying out our local distributors. Ronstan is our first direct international industrial acquisition.
We are present in 3 main markets: original equipment in the marine sector, marine distribution and industry, which is also the case for Ronstan. We want to move forward in these 3 directions. You won't see a complete deck layout under the Wichard name, but through its various strong brands.
