UK boatbuilder Sunseeker International has benn purchased by a group of British and Irish investors led by FL Partners, a Dublin-based private equity firm. FL Partners has acquired a majority stake in luxury yacht manufacturer Sunseeker for GBP25 million.

46m Sunseeker Superyacht

The Dublin-based private-equity firm FL Partners said it has also refinanced Sunseeker’s current debt with a long-term package from Macquarie Bank and Haymarket Financial.

Dorset-based Sunseeker Yachts has already invested more than GBP40 million into expanding its manufacturing facilities and product range to deliver yachts of up to 40 meters, and it has plans to extend to 50-meter yachts.

“Whilst we continue to operate in a recovering market place, Sunseeker is one of the few luxury yacht manufacturers which has maintained consistent sales revenue in recent years, itself a reflection of the global standing of the business, its products and the strength of its brand,” says McIntyre. “Our products are in strong demand throughout the world, with few build slots available in FY11 while FY12 is filling up fast. ” said Stewart McIntyre, who has been appointed managing director of Sunseeker, where he is currently chief operating officer.

“The additional capital will ensure that Sunseeker uniquely among its peers has a strong platform for further growth,” he said.

FL Partners, which owns the horse-racing paper Racing Post, is being joined by other Irish and U.K. investors in its Sunseeker Yacht investment deal. The company has also refinanced Sunseeker’s current debt with a long-term package provided by Macquarie Bank, which has also co-invested, and Haymarket Financial. Earlier this year, Sunseeker reported a pre-tax loss of £9.1m for the year ended July 31, 2009 compared to a pre-tax profit of £17.8 in the same period in 2008.

Robert Braithwaite, Sunseeker’s co-founder, remains the largest single shareholder outside FL Partners, and will serve as president and non-executive chairman of Sunseeker International (Holdings) Limited.

Joining the board with Peter Crowley and Neill Hughes of FL Partners will be Andy Macfie of Souter Investments LLP; Souter Investments is transport magnate Brian Souter’s personal investment vehicle.

“I am delighted to welcome Neill and Peter to the Sunseeker board as my partners,” says Braithwaite. “The combination of significant new equity capital together with our existing market-leading positions is a compelling one; Sunseeker will continue to capture the imagination of its customers in all segments of the market and will have a very exciting future.”

“The new investors — working together with the existing management team at Sunseeker — are dedicated to continued success through innovation, and the additional capital will ensure that Sunseeker uniquely amongst its peers has a strong platform for further growth,” he adds.

Sunseeker recently invested over £40m expanding its manufacturing facilities and product range in Poole, Dorset to deliver yachts of up to 40m (131ft) in length, with plans and capacity to expand to 50m (164ft) yachts. The company exports globally and employs around 2,300 people.