Sunseeker

Last updated

Sunseeker International
Company type Subsidiary
Industry Luxury motor yachts
Headquarters,
Key people
Andrea Frabetti (CEO), Robert Braithwaite (Founder), John Braithwaite (Founder)
Revenue£320 million (2013)
Owner Dalian Wanda Group
Number of employees
Approximately 2,600 (2019)
Parent Wanda Group
Website www.sunseeker.com

Sunseeker International is a British luxury performance motor yacht brand. Originally named Poole Power Boats, the company was founded by brothers Robert and John Braithwaite in 1969. The company changed its name to Sunseeker International in 1985 and has since become a global icon. Its headquarters and main assembly facility is in Poole Harbour, at Poole in Dorset, England. The majority shareholder has been Wanda Group since 2013. [1] It is the largest UK-based luxury yacht maker measured by 2012 revenues. [2]

Contents

Profile

Corporate information

The main operating company's (Sunseeker International Limited, company number 00675320) registered office is Sunseeker House, West Quay Road, Poole, Dorset, BH15 1JD. Sunseeker describes the nature of its business using the Standard Industrial Classification number 30110: 'Building of ships and floating structures'. [3]

A holding company, Sunseeker International (Holdings) Limited, was founded in 2006 using an off-the-shelf company. There are other companies in the group, including specialist entities for chartering and mouldings manufacturing. [4]

Debt financing is provided to the group by HSBC Bank plc through a revolving credit facility agreement originally dated 8 July 2015, as subsequently amended and restated, pursuant to which the group has mortgaged and charged various assets, including (inter alios) its shipyards, intellectual property, and goodwill. [5]

Industrial profile

Manufacturing is undertaken mainly in Poole, in eight production plants and shipyards where it employs c. 2,600 people and produces around 150 boats every year ranging from 38 to 161 feet. An additional deep-water shipyard in Hythe is used to build the 105 yacht and larger vessels. In March 2007, the company announced a 500 job expansion programme, with a new site on the Isle of Portland. [6]

Poole is also home to Sunseeker's dedicated Design & Technology Centre, a unique facility which vertically integrates every detail of the yachts from the initial concept designs through to the finishing details including furniture, complex electrical systems, helm consoles and soft furnishings, thereby maintaining quality control and craftmanship standards.

Sunseeker in Stockholm, Sweden. Sunseeker, Stockholm ( 1090746).jpg
Sunseeker in Stockholm, Sweden.

History

In October 2002, Robert Braithwaite, the founder of Sunseeker International, was named Ernst & Young's UK Entrepreneur of the Year. [7]

In 2006 Robert Braithwaite led a £44 million MBO of the company, backed by Bank of Scotland. [8]

The company features in the 2008 Sunday Times list Profit Track 100 of the most profitable non-listed companies and in the Top Track 250 list of mid-sized non-listed companies. [8]

In 2010, Irish private equity firm FL Partners took over ownership of Sunseeker through a debt restructuring deal after Sunseeker posted losses the previous year. [9] [10]

On 19 June 2013 it was announced that the Chinese conglomerate Dalian Wanda Group had agreed to buy a 91.8% stake in Sunseeker for £320M. As reported, it has been promised that the day-to-day running of Sunseeker in Poole will be unaffected, with its 2,500-strong workforce keeping their jobs. The deal was completed mid August 2013. [11]

In January 2015, Phil Popham was appointed as the company's new chief executive officer. [12]

In June 2019, Sunseeker announced that Andrea Frabetti, formerly Chief Technical Officer at Sunseeker, replaced Christian Marti as CEO. Prior to his time at Sunseeker, Frabetti worked at Italian superyacht manufacturer Ferretti Group for over 25 years, including time as vice president of product development, as well as at Diesel Center SPA as CEO. Marti came on board as Sunseeker's CEO in November 2018 following the departure of Phil Popham. [13]

Sunseeker Superhawk 34 used in The World Is Not Enough, 1999, James Bond chase sequence. Yacht The World Is Not Enough, James Bond 007, 2000.jpg
Sunseeker Superhawk 34 used in The World Is Not Enough, 1999, James Bond chase sequence.

In 2024, Sunseeker changed ownership again two private equity firms, Lionheart Capital from the U.S. and Italy’s Orienta Capital Partners, acquired the company from Dalian Wanda Group. The deal was officially announced at the Fort Lauderdale International Boat Show in October 2024 [14] . This acquisition by Lionheart and Orienta Capital aims to further strengthen Sunseeker's brand globally while expanding its reach in both the North American and European luxury yacht markets.

Sunseeker boats have featured in the James Bond film series since The World Is Not Enough (1999), and continued through Die Another Day (2002), Casino Royale (2006) and Quantum of Solace (2008). The 1999 outing featured Sunseeker's then new offering of the Superhawk 34, in a boat chase within the pre credits sequence with James Bond in a jet boat along the River Thames, culminating in the Sunseeker beaching near the Millennium Dome. [15] This latest outing showed Sunseeker's new 37m Yacht and the Superhawk 43; it also featured a cameo role for Sunseeker's then managing director, Robert Braithwaite, in one of Sunseeker's very first open-cockpit speedboats, the Sovereign 17. [16]

A BBC Two documentary about the brand, Britain's Biggest Superyachts: Chasing Perfection, [17] shows the building of the Sunseeker 131 yacht.

In the feature film Logan , James (Wolverine) is shown trying to secure money to buy a Sunseeker and live with Charles Xavier and Caliban on the ocean.

See also

Related Research Articles

The Monaco Yacht Show (MYS) is an annual trade show in Monaco, organised by the British events and publishing company, Informa. It was launched in 1991 as a broker-oriented event focused on superyachts over 20 m (66 ft) in length. It is held in Port Hercules, and is Europe's biggest in-water display of large yachts.

<span class="mw-page-title-main">Superyacht</span> Large and luxurious pleasure vessel

A superyacht or megayacht is a large and luxurious pleasure vessel. There are no official or agreed upon definitions for such yachts, but these terms are regularly used to describe professionally crewed motor or sailing yachts, ranging from 40 metres (130 ft) to more than 180 metres (590 ft) in length, and sometimes include yachts as small as 24 metres (79 ft).

<span class="mw-page-title-main">Yacht tender</span> Boat used for servicing larger racing or cruising pleasure craft

A yacht tender is a vessel used for servicing and providing support and entertainment to a private or charter yacht. They include utilitarian craft, powered by oar or outboard motor, and high-speed luxury craft, supporting superyachts, powered by inboard engines, some using water-jets. Some superyachts have a support vessel that follows them with bulky items that are not conveniently stowed aboard the main yacht, such as a helicopter, automobile or larger watercraft.

<span class="mw-page-title-main">Azimut Yachts</span> Italian yacht builder

Azimut Yachts is an Italian yacht manufacturing company based in Viareggio, Italy. It was established in 1969 by Paolo Vitelli.

Appledore Shipbuilders is a shipbuilder in Appledore, North Devon, England.

<span class="mw-page-title-main">Ferretti Group</span> Italian shipbuilding company

Ferretti S.p.A. is a multinational shipbuilding company headquartered in Forlì which specialises in the design, construction and sale of luxury motor yachts. Its products are sold under the brands Wally, Ferretti Yachts, Custom Line, Pershing, Itama, Riva, Mochi Craft and CRN.

<span class="mw-page-title-main">Feadship</span> Dutch shipbuilding venture

Feadship is a cooperative venture between two shipyards: Royal Van Lent Shipyard and Koninklijke De Vries Scheepsbouw. Feadship designs and constructs high-end luxury yachts and is one of the leading builders of custom superyachts such as Aquarius, Symphony, Savannah and Venus.

<i>Eclipse</i> (yacht) Superyacht owned by Roman Abramovich

M/Y Eclipse is a superyacht built by Blohm+Voss of Hamburg, Germany, the third longest afloat. Her exterior and interior were designed by Terence Disdale. The yacht is owned by Roman Abramovich, and was delivered on 9 December 2010. At 162.5 metres long Eclipse was the world's longest private yacht until Azzam was launched in April 2013, which is 17.3 metres longer. The yacht's cost has been estimated at €340 million.

<span class="mw-page-title-main">Paolo Vitelli (businessman)</span> Italian businessman

Paolo Vitelli is an Italian businessman, the founder in 1969 of the motor yacht company Azimut. He is currently president of Azimut Benetti Group.

<span class="mw-page-title-main">Phil Popham</span> British businessman

Phil Popham is a British Business man who has mainly been employed in the automotive industry. He had a long career at Jaguar Land Rover, and latterly was the chief executive officer of Lotus Cars. He has also been CEO of Sunseeker during his career.

Axis Group Yacht Design is an Italian naval architecture, marine engineering and design company specialized in the over 40 meter luxury motoryacht market.

<span class="mw-page-title-main">Wanda Group</span> Chinese conglomerate

Wanda Group, or the Dalian Wanda Group (大连万达), is a Chinese multinational conglomerate founded in Dalian, Liaoning and headquartered in Beijing. The conglomerate's core businesses are a private property developer and an entertainment company, effectively acting as the owner of Wanda Cinemas and the Hoyts Group line of cinema chains.

<span class="mw-page-title-main">Robert Braithwaite (engineer)</span> British engineer (1943–2019)

Robert Braithwaite was a British entrepreneur, marine engineer and Founder and President of the luxury powerboat manufacturer, alongside John Macklin, Sunseeker.

<span class="mw-page-title-main">Heesen Yachts</span>

Heesen Yachts is a Dutch ship building company that specialises in custom built superyachts. Founded in 1978, it has launched more than 200 yachts since its inception, many of which have won awards. It is considered one of the world leaders in the design, construction and engineering of all-aluminum yachts.

Gregory C. Marshall Naval Architect Ltd. (GCMNA) of Victoria, British Columbia, Canada, is a designer of international luxury yachts. The company was established in 1994 by Gregory C. Marshall and with partner Gordon Galbraith, who joined the company in 1998, currently employs a design team of 30 employees.

<span class="mw-page-title-main">Front Street Shipyard</span>

Front Street Shipyard is a custom boat builder, boat yard, marina, and service yard in Belfast, Maine, USA. The yard is located along the waterfront in Penobscot Bay. The business was established in 2011. One year later, the ownership group also purchased the neighboring business, Belfast Boat Yard. In 2014, Front Street Shipyard began leasing a building in Bucksport, Maine, where production boats are built.

<span class="mw-page-title-main">Sanlorenzo S.p.a.</span> Italian shipbuilding company

Sanlorenzo S.p.a. is an Italian shipbuilding specialised in the production of luxury yachts and superyachts, from 24 to 70 meters in length, whose headquarters is based in Ameglia, province of La Spezia. For over 60 years, Sanlorenzo has been operating in the yachting industry by building a limited number of made-to-measure boats a year.

<i>Lady M</i> (yacht)

Lady M is a super-yacht launched on 13 May 2013 at the American Palmer Johnson shipyard in Sturgeon Bay, Wisconsin and delivered later that year. She was built as Project Stimulus. The interior and exterior design of Lady M were done by Nuvolari & Lenard. She is currently not for charter.

References

  1. "Sunseeker Confirms Acquisition by Dalian Wanda". sunseeker.com (Press release). 27 August 2013. Archived from the original on 8 March 2016. Retrieved 6 July 2018.
  2. Rapoza, Kenneth (19 June 2013). "Chinese Billionaire Buys 'James Bond' U.K. Yacht Maker". Forbes . Retrieved 13 October 2013.
  3. "Sunseeker International Limited". Companies House, beta. Companies House. Retrieved 19 April 2019.
  4. "Companies House "sunseeker international"". Companies House. Companies House. Retrieved 19 April 2019.
  5. "Companies House profile: Charge code 0067 5320 0063". Companies House, beta. Companies House. Retrieved 19 April 2019.
  6. "Luxury yacht maker's 500 new jobs". BBC News. 14 March 2007.
  7. Clark, Emma (8 October 2002). "Sunseeker scoops entrepreneur award". BBC News.
  8. 1 2 "Top Track 250 list". Sunday Times. October 2008. Entry 88.
  9. John, Timothy (3 June 2010). "Irish Investor Takes Major Stake in Sunseeker International". Daily Echo. Gannett. Retrieved 6 July 2018.
  10. "Sunseeker to close New Forest boat yard". Daily Echo. Gannett. 21 June 2013. Retrieved 6 July 2018.
  11. "Chinese firm to buy British yacht maker Sunseeker". The Guardian. Reuters. 19 June 2013. Archived from the original on 11 February 2014. Retrieved 6 July 2018.
  12. Jefferies, Chris (28 November 2014). "Sunseeker names former Land Rover boss as new CEO". Motorboat & Yachting. Retrieved 6 July 2018 via MBY.com.
  13. Group, The Superyacht (11 June 2019). "BREAKING: Sunseeker announces new CEO - SuperyachtNews". Superyacht News. Retrieved 12 June 2019.{{cite web}}: |last= has generic name (help)
  14. "Famous British Boat Builder Sunseeker Sold to US and Italian Private Equity Companies" . Retrieved 7 November 2024.
  15. "Sunseeker Superhawk 34 – Shaken Not Stirred – scenes on the River Thames in Bond's "The World is not Enough"". www.007museum.com. Retrieved 23 June 2023.
  16. Zydel, Devin (24 May 2006). "Sunseeker Appearance Confirmed for Casino Royale". commanderbond.net. Retrieved 6 July 2018.
  17. "Britain's Biggest Superyachts: Chasing Perfection". bbc.co.uk. BBC. Retrieved 2 July 2016.