KPS Capital at the helm of Princess Yachts
U.S. investment fund KPS Capital Partners announced on February 13, 2023 that it has reached a definitive agreement to take control of British shipyard Princess Yachts. The transaction is expected to close by the end of the first quarter of 2023. KPS will succeed another investment fund, L Catterton, at the helm of the British high-end yacht specialist.
Investments to strengthen the site
The new owners have stated their ambitions for the British brand, which was founded in 1965 and is well known in the boating industry. The company currently employs 3,200 people in 5 locations in Plymouth, southern England.
Princess Yachts' Managing Director Antony Sheriff is delighted with the arrival of this new investor: "We are thrilled to partner with KPS on an exciting new chapter for Princess Yachts. KPS and Princess Yachts are deeply committed to investing in the future of the company while continuing to strengthen our portfolio of market-leading motoryachts. With an order book approaching $1 billion and many models sold through 2025, we have never been in a stronger commercial position. Under KPS ownership, we will accelerate a series of operational and growth initiatives to build on our long and successful growth."
