US buyout house Bain Capital has taken the unusual decision to replace the senior management of one of GermanyâÂÂs most highly leveraged deals of last year as the company seeks to boost its sales.
The investor, which is understood to have paid about â¬1bn ($1.5bn) in July last year for yacht-builder Bavaria Yachtbau completed the appointment of a new senior management team for the group, appointing Dieter Berndt as chief financial officer and Klaus Hammen as chief operating officer.
