New investment allows yacht group to target further expansion<\/p>\n
16 Aug 2017<\/p>\n
new investment is allowing Discovery Yachts to expand with a new 48ft yacht<\/p>\n
A new 48ft yacht is the first new model to be launched by Discovery Yachts since raising additional investment capital.<\/p>\n
The luxury cruising yacht will be shown at the D\u00fcsseldorf Boat Show in January 2018 and forms the first stage of plans to expand the yacht builder\u2019s current range.<\/p>\n
The additional investment has come from Nick Gill, founder and former CEO of Gill Marine and Michael Putziger, chairman of the Winn Group of Companies in the US. Further investors are expected to be announced in the autumn.<\/p>\n
\u201cThis is great endorsement of our plans for the long-term growth of the group and both Nick and Michael will bring extensive commercial knowledge and wisdom,\u201d said Sean Langdon, CEO at Discovery Yachts Group. \u201cWe may look for one or two further investors in the Autumn to further accelerate our growth.\u201d<\/p>\n
Discovery Yachts Group was formed to complete the acquisition of Discovery Yachts through a management-led buyout headed by Mr Langdon, following the retirement of the company\u2019s founder and chairman John Charnley.<\/p>\n
After the acquisition, the group purchased the Southerly Yachts business and assets and has so far sold three yachts.<\/p>\n
The latest funds will be used to strengthen the financial structure of the group and potentially allow the acquisition of further brands in the future.<\/p>\n
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via Boating Business | New investment allows yacht group to target further expansion<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" New investment allows yacht group to target further expansion 16 Aug 2017 new investment is allowing Discovery Yachts to expand with a new 48ft yacht A new 48ft yacht is the first new model to be launched by Discovery Yachts … Continue reading