In a Wave of Confidence, Lenders Back Sunseeker with Fresh Capital for Future Growth

The renowned British boat builder, Sunseeker, is sailing towards a brighter horizon on the wave of a fresh capital investment from Cheyne Capital and Cross Ocean Partners. Amidst turbulent market conditions, this funding provides a lifeline for the Sunseeker group, and sets it on a course for stability and growth.

The company’s chief executive, Andrea Frabetti, announced that this fresh financing would consolidate their financial fortitude, and maintain the basket of operations impeccably. As Sunseeker navigates the choppy seas of a stubborn market, the focus remains on current strategies to ensure the growth of the business and deliver unparalleled yachts to its discerning customer base.

With this capital injection, significant board changes occur as Matt Mawhinney and David Soden from Teneo, have been appointed as receivers for Sunseeker Investment Limited’s shares. This actions strengthens the lenders’ oversight of the holding company, although Sunseeker’s daily operations carry on amidst these changes.

Cheyne Capital and Cross Ocean Partners, acclaimed firms managing over $20 billion in assets, perceive this additional funding as a vote of confidence in Sunseeker’s long-term trajectory. As Sunseeker adjusts to market conditions and trade headwinds, this investment truly shows faith in a promising future.

The investment proves instrumental not only in solidifying Sunseeker’s financial position but also in enabling it to trade as per norm and continue to fulfil its global order book without hiccups. Sunseeker remains invested in the advance of its superyacht development, hinting at a larger fleet size as it reveals details of a new 40-metre series expansion.

In stormy waters, Sunseeker is a shining beacon of adaptability and resilience, braced to ride the waves of market trends with a clear strategy and an unyielding commitment to its customers.