Sunseeker receives capital investment to boost growth
Sunseeker is a UK-based luxury yacht and superyacht builder.
Sunseeker has shored up its financial position ahead of future growth plans with new investment from its lenders Cheyne Capital and Cross Ocean Partners.
The funding, from investors with more than $20bn in assets under management, demonstrates the lenders’ “continued confidence” in the business, said the UK yacht builder in a statement.
The company says it continues to trade as normal and remains “focused” on fulfilling its order book and investing in new products, including its move into superyachts.
“This new financing will help to strengthen our financial position and support our ongoing operations,” said Andrea Frabetti, CEO, Sunseeker. ” Our focus remains on our existing strategy to ensure the future growth of the business and on continuing to deliver world-class yachts to our customers.”
Sunseeker recently appointed Mark Chinery as sales director to lead the company’s global growth. He replaces 40-year Sunseeker veteran Sean Robertson.
“Having been part of the Sunseeker family for 30 years, I’ve seen first-hand the dedication, craftsmanship and innovation that defines this brand,” said Chinery. “It’s a privilege to build on the incredible legacy Sean Robertson leaves behind and to lead our sales team into an exciting new era.”
Yachting and luxury industry veteran Mario Gornati was also appointed as marketing and communications director.
At this year’s Cannes Yachting Festival, Sunseeker announced a new 40m superyacht line in tandem with Francesco Paszkowski.
In June, Sunseeker said it planned to restructure its business with the loss of about 200 jobs in response to a “softening global demand” caused by economic and political uncertainty in the world.
It said it must “remain attuned to market dynamics” and planned to reorganise its support, leadership and management functions to “streamline operations and focus resources where they will have the greatest strategic impact”.
In November 2024, Sunseeker was fined more than £350,000 after breaking import laws for exotic timber such as teak.
