Trev Terry Marine boat business trades on in receivership

Receivers of a family-owned boat business which bought long-standing Napier company Firman Marine less than two years ago hope to find a buyer despite some tough economic conditions.

Taupo-based Trev Terry Marine went into receivership on February 23, but is still trading amid hopes of a sale.

Natalie Burrett, of Auckland-based receivers Calibre Partners said it was too soon to say exactly what caused the company’s troubles, but, indicating already some sale interest, she told the : “It’s a tough market out there for a boatyard”.

“We have had some interest already,” she said. “There (are) some contacts we’re aware of and also we’ll be running a publicity campaign.”

The company was founded in 1990 and now has 67 staff in Taupō and Kinloch, Turangi, Napier, Invercargill and Wānaka, selling boats and Weber barbecues and operating marine servicing workshops.

Firman Marine had operated in Napier more than 50 years, for many years at a Pandora Rd site before moving to Prebensen Dr, where the Trev Terry Marine takeover took effect on November 1, 2022.

But the purchase did not include Firman’s Profile Boats manufacturing business which continued to be run by Brian Firman and his team from a nearby factory in Niven St, Onekawa.

Trev Terry Marine’s continuation through the crisis includes a presence at the Wanaka Boat Show this week.

Burrett said the first receivers’ report, expected in a few months, would outline more details about who was owed money and what might have caused the business’ problems.

The company says its workshop is “still going strong, and we’re proud to be your trusted partners in keeping your boats in top shape”.

Doug Laing is a senior reporter based in Napier with Hawke’s Bay Today, and has 50 years of journalism experience in news gathering, including breaking news, sports, local events, issues, and personalities.