Sunseeker Chinese sale completed

Posted on 30 Aug 2013 by The Manufacturer

The sale of British boatbuilder Sunseeker to Chinese group Dalian Wanda has been completed after a £320m deal was agreed in June.

After agreeing a fee for the company, It was confirmed Wanda had acquired a 91.81 per cent shareholding, with the remaining 8.19 per cent being taken on by the yacht builder’s management.

Gemma Marsh, Sunseeker’s marketing manager, said: “”This is fantastic news for the business, the wider Sunseeker family, the motor yacht industry and will allow Sunseeker to expand its global base still further while retaining its current operational and manufacturing infrastructure at our headquarters in Poole.”

She added that despite the sale, the company will retain its primary production base in Poole, where it currently employs 2,500 staff.

The firm’s existing management team will also remain in place, while Sunseeker founder Robert Braithwaite will continue to be involved in the business and remain as Group President.

Wanda chairman Wang Jianlin added: “With the committed support of Wanda, Sunseeker is well-placed to take full advantage of opportunities in China, one of the world’s fastest growing luxury yacht markets. We are confident that this will bring Sunseeker’s business to the next level.”

The move has been welcomed by local business leaders, after previous owners, Irish private equity firm FL Partners, bought the company in 2010 in a debt restructuring deal after Sunseeker had posted losses.