Consortium buys into maker of James Bond yachts

A consortium of UK and Irish investors has bought a majority stake in luxury yacht manufacturer Sunseeker International for £25m.
By The Newsroom
Published 3rd Jun 2010, 13:28 BST
Updated 3rd Jun 2010, 13:28 BST

The team, led by Dublin-based FL Partners, owners of the Racing Post, also includes Stagecoach boss Brian Souter and chief executive of bed retailer Dreams, Mike Clare. The 40-year-old company, which is based in Poole, Dorset, and employs more than 2,300 people, has made yachts that were featured in recent James Bond films Casino Royale and Quantum of Solace.

Co-founder Robert Braithwaite, who remains a major shareholder, said: "The combination of significant new equity capital together with our existing market-leading positions is a compelling one.

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"Sunseeker will continue to capture the imagination of its customers in all segments of the market and will have a very exciting future."

Mr Braithwaite will be president and non-executive chairman of Sunseeker International. Stewart McIntyre, currently chief operating officer, has been appointed managing director.

Sunseeker said FL Partners had refinanced Sunseeker's debt with a 40m package of loans from Macquarie Bank of Australia and Haymarket Financial.