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Discovery Yachts Group Targets Further Expansion, Backed by New Investors

Wednesday, 16 August 2017


Building on its recent acquisition of the business and assets of Discovery Yachts and Southerly Yachts, the Discovery Yachts Group have raised additional investment capital from Nick Gill, founder and former CEO of Gill Marine and Michael Putziger, Chairman of the Winn Group of Companies in the U.S. Further investors are expected to be announced in the Autumn. The additional funds will be used to strengthen the financial structure of the Group and potentially allow the acquisition of further brands in the future.

Discovery Yachts Group was formed to complete the acquisition of Discovery Yachts through a management-led buyout headed by the Managing Director Sean Langdon, following the retirement of the company’s founder and Chairman John Charnley. After the acquisition of Discovery Yachts, the Group purchased the Southerly Yachts business and assets and has relaunched the brand with great success as three yachts have already been sold. Discovery Yachts have ambitious plans to expand the current range starting with the launch of a new 48 ft. (15m) luxury cruising yacht at the Düsseldorf Boat Show in January 2018 as well as adding another brand into the line-up for Discovery Yachts Group.

Commenting on the new investment, Sean Langdon, CEO at Discovery Yachts Group said,
“We are delighted that Nick Gill and Michael Putziger have decided to invest in Discovery Yachts Group. This is great endorsement of our plans for the long-term growth of the Group and both Nick and Michael will bring extensive commercial knowledge and wisdom. We may look for one or two further investors in the Autumn to further accelerate our growth”

Nick Gill stated, “I am delighted to be a part of the Discovery Yachts Group and look forward to working with the Board to build a powerhouse of British boat building”.

For more information, visit www.discoveryyachts.com or contact
Keith Watson, CFO, on +44 (0)2380 865555

Discovery Yachts Group Ltd.
Harbour Close, Southampton SO40 4AF

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Last Updated ( Wednesday, 16 August 2017 )