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AIM debut for yacht fueller

Article Date:  Jun 06 2006

Yacht Fuel Services, which supplies Europe's largest private boats, is joining AIM via a reverse takeover of Premier Management Holdings.

Currently 95 per cent-owned by emerging markets bond trader Neil Miller and IT entrepreneur Laurence Milton, Yacht Fuel services says it supplies fuel to '250 of the world's 650 largest private yachts'. The company hopes an AIM quote will help it participate profitably in the expected consolidation of today's 'highly fragmented' £100 million yacht fuel market.

Yacht Fuel Services, which made a gross £514,000 last year on revenues up 35 per cent to £11.1 million, wants to cash in on a 'super-yacht market experiencing strong growth as a result of the new fortunes emanating from China and Russia'. Premier Management, headed by Barry Gold, was floated as a football players' agency by broker Brewin Dolphin six years ago at 25p but has proved a disappointment and, now suspended, languishes at 0.85p.


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