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The change in Sunseeker?s ownership is not merely a financial move. It is part of a period of commercial instability and reorganization that has been ongoing for several years. The Poole-based manufacturer, one of the leading British names in motor yachts, is seeking to restore stable governance and a clearer strategic direction.
A rapid succession of owners
Sunseeker has undergone several changes in ownership in a short period of time. The Chinese group Dalian Wanda acquired the shipyard in 2013, before selling it in 2024 to Lionheart Capital and Orienta Capital Partners.
A new acquisition deal was then considered with KCP Holdings. However, that project did not proceed as planned. Cross Ocean Partners and Cheyne Capital then took the lead on the matter. The two firms had already been involved with the shipyard since November 2025, when they helped finance its restructuring.
A recovery linked to the restructuring of the construction site
New owners, therefore, are not learning about Sunseeker for the first time at the time of acquisition. They were already familiar with the company?s financials, its industrial organization, and its needs.
Their takeover is a direct result of the restructuring carried out under Teneo's supervision. The goal of that phase was to stabilize the business, preserve jobs, and develop a multi-year recovery plan.
In this context, the failure of the previous turnaround paved the way for a full takeover by the two creditors. Their acquisition of a stake in the company thus transforms their role from that of financiers to one of direct responsibility for the shipyard?s future.
Business challenges to be addressed
Sunseeker must also contend with a less favorable business environment. In particular, the shipyard is seeking to regain momentum in the U.S. market, which has historically been important for British superyachts and motor yachts.
Frequent changes in ownership can complicate product strategy, dealer relations, and customer trust. In the boating industry, a yacht is often ordered several months, or even several years, before delivery. The builder?s financial stability and the continuity of its after-sales service are therefore just as important as the boat?s performance or interior layout.
And for a vehicle owner, a change in the manufacturer?s ownership is never a trivial matter. It can have implications for parts availability, resale value, the service network, or the tracking of vehicles already on the road.
A New Team to Stabilize Governance
Scott Millar's appointment as CEO coincides with this takeover. He is already familiar with the company, having worked with Teneo to develop its five-year strategic plan.
His background is more focused on business transformation and operational management than on shipbuilding alone. He is joined by several executives from the automotive and high-end consumer goods sectors.
Andy Gawthorpe has been appointed chief commercial officer after holding positions at Aston Martin and Triumph Motorcycles. Ian Morgan will take charge of strategy. Adrian Mardell, a former executive at Jaguar Land Rover, is joining the company as non-executive chairman.
This organizational structure reflects a clear commitment to regaining control over costs, streamlining sales, and ensuring long-term consistency across the product line.
Cannes 2026 as the first public test
The Cannes Yachting Festival, scheduled for September 2026, is set to serve as the first high-profile step in this new direction. Sunseeker plans to unveil new yacht concepts there, as well as an evolution of its brand identity.
But the stakes go beyond simply designing a logo or putting up a few billboards. Above all, the market is waiting for information on future models, production timelines, industrial investments, and the continuity of the dealership network.
For boaters, brokers, and industry professionals, the event in Cannes will therefore provide an opportunity to assess whether Sunseeker is charting a new course or simply going through another phase of capital restructuring.
