Viking Splash Tours, the company offering colourful tours around Dublin in second World War amphibious vehicles, has been sold to another Dublin-based tour operator. Una McCaffrey reports.
The company has been taken over by Sea Safari Ltd, a firm offering adventure eco-tours of Dublin Bay from moorings on the Liffey and the Malahide marina.
Fergal Walsh, who founded Sea Safari with his brother Des, said he was "delighted" with the purchase yesterday. The price was not disclosed but the majority sellers, Peter Stocks and Lynda Richards-Stocks, said they were "very happy". The Stocks, who founded Viking Splash Tours in 2000, had planned to sell the company this year. They initially tried to source a buyer through their accountant, but Sea Safari approached them directly while they were in negotiations with another party.
Mr Walsh and his brother received a windfall last month when they sold their 41.4 per cent share in Sterile Technologies for €40 million. The Walshes founded the medical waste management company in 1996. With Viking Splash under its control, Sea Safari will examine the potential of integrated ticketing for both services. Mr Walsh said the deal should raise the profile of Sea Safari, which, unlike Viking Splash, has no visibility on the streets of Dublin. Viking Splash Tours operates six amphibious vehicles and carries more than 70,000 passengers each season. "The deal has given both companies a bit of substance," Mr Walsh added.
Mr Stocks and his wife Ms Richards-Stocks owned 85 per cent of Viking Splash Tours, with the remainder held by a combination of mostly American friends and angel investors. They set up the company after experiencing a similar tour in Boston while living in the US. Their initial investment was about $100,000 (€82,000), with a further $200,000 coming from e other shareholders. They also got a €63,000 injection from the Dublin City Enterprise Board. In 2004 Viking Splash Tours had shareholders' funds of €544,796, up from €487,199 the previous year. The firm had €171,142 in its profit and loss account at the end of October, 2004. Mr Stocks said profits had almost doubled in 2005.
He said the couple had no immediate plans for future investments. They have been working on bringing the tour to Berlin and may now link with Sea Safari to do this.
