No immediate sale of Princess Yachts
Princess Yachts shipyard is not currently for sale. Following rumors published by SkyNews on May 27, 2022, that the Plymouth, UK-based builder of high-end powerboats was up for sale, the company has officially denied that a deal exists. In a statement, the company highlights recent investments in its X95, Y72 and X80 speedboat models and ongoing commercial successes, with more than 300 boats sold per year and an order backlog through 2024 that is close to $1 billion.
Financing the acceleration of boat production
For all that, L Catterton, owner of Princess Yachts concedes its openness to the arrival of other investors. The investment fund was born of the merger in 2016 of the Catterton fund and L Capital, supported by LVMH and the Arnault group, the French billionaire, who arrived in 2012 at the helm of the British manufacturer. Faced with strong demand for boats and as part of a project to develop the city of Plymouth of a free zone, the industrialist has presented a potential expansion of its production capacity, doubling the number of boats that can be produced by its factory. As part of this, "the company and its shareholders are now considering initiating discussions with potential investors to provide financial support for these exciting growth plans," the Princess Yachts statement said.
