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Cruising Spotlight Plymouth, Devon, the brand home of Princess Yachts

Friday 22nd December 2023

Plymouth, Devon – the brand home of Princess Yachts and one of Princess Motor Yacht Sales’ many offices and facilities across Western Europe.

Britain’s Ocean City and the surrounding South Devon coastline offer some of the most exciting cruising waters in the UK.  And recently, the Telegraph’s destination expert, Chris Moss, cited Plymouth as ‘one of the most underrated places on Earth’.  Plymouth, brand home of Princess Yachts.

Plymouth is steeped in maritime history. From the Pilgrim Fathers setting sail for the “New World” in 1620 to the modern-day boat building of Princess Yachts, and recently appointed as Britain’s first National Marine Park, the city is the ideal base for cruising adventures. The seafront and ‘The Hoe’ featuring its iconic candy-striped

Smeaton’s Tower lighthouse (originally built at the Eddystone Rock) and the 1935 Art Deco Tinside Lido, is lined with bars and cafes to take in the awe-inspiring views across Plymouth Sound. The historic cobbled streets of the Barbican are well worth a stroll, taking in the Elizabethan House, numerous bars, restaurants, boutique shops, art galleries and Plymouth Gin Distillery, then across Sutton Harbour lock to the National Marine Aquarium.  For culture vultures, the Theatre Royal sets the stage for new West End shows and The Box is an award-winning art gallery, museum and archive.  Explore the cruising spotlight Plymouth.

For ‘off-grid’ serenity, the southwest is outstanding. The stretch of coastline to Salcombe and Dartmouth is particularly renowned for its epic landscapes and deep-cut estuaries.  And in south Cornwall, the coastline to Falmouth, with Looe and Fowey enroute, gives you access to some gorgeous little fishing towns.

Richard Cark, Aftersales Business Development Manager at Princess Motor Yacht Sales in Plymouth, said, “Anchoring up at Blackpool Sands in the sought-after South Hams in the height of the summer is better than anything the Med has to offer.  Family-friendly beach festival ‘Tunes on the Sands’ offers a weekend of live bands and DJs with a relaxed vibe in July.  Every cove, every estuary is different. From Plymouth, you can cruise to Hope Cove, Salcombe and Dartmouth to the east in Devon and Cawsand Bay, Fowey, Falmouth and the Helford River to the west in Cornwall.  The scenery is unbelievable, there’s wildlife everywhere you look and the seafood is as good as you will find. We also have some fabulous events close to home including the Dartmouth Regatta, the Salcombe Regatta, Plymouth Seafood & Harbour Festival, the Falmouth Regatta and the Torbay Air Show.’

Image courtesy of Tunes on the Sands

Best anchorage:

The River Yealm is a beautiful estuary for a quiet anchorage. Cellar Bay is near the mouth of the river, and further up you can moor up at one of the public pontoons or pick up a mooring buoy. The scenery is stunning. Its tranquillity lends itself to a spot of paddle boarding or kayaking to explore the river. Or you can take the tender up to one of the great pubs such as the Ship Inn – a lovely gastro pub with superb outdoor seating with a Caribbean inspired summer house or you can stay cosy indoors next to the fire.  Across Noss creek is the Swan Inn and across Newton Creek is the Dolphin – and you can use the causeways at low tide to stroll between them.  There’s also a fabulous circular 90-minute cliff top walk called ‘The Warren’, if you feel like stretching your legs. It takes in spectacular views across the English Channel and along the rugged Devon coastline and then leads down through the woods beside the river, finishing at the Ship Inn – perfect for a well-deserved lunch.

Best overnight stop:

Salcombe in the summer is absolutely buzzing.  This popular nautical town is the jewel in the South Hams, attracting a discerning crowd.  It’s set on the beautiful Kingsbridge Estuary – a boating mecca for dinghy sailing, yachts, motor boats, paddle boards and kayaks. The picturesque river is flanked with many small golden sandy coves, with lush rolling hills in the background.  Salcombe town itself offers a wide selection of boutique shops, deli’s, pubs and restaurants, and you can even join a masterclass at the Salcombe Gin Distillery. Take the little foot ferry across to East Portlemouth to walk the South West Coast Path to Gara Rock or take the cute bunting-adorned ferry to South Sands to visit the fabulous South Sands Hotel and Harbour Beach Club Hotel for lunch or dinner right on the beach.  Indulge in the spa or walk up to the National Trust’s tropical Overbeck’s garden – real proof of Salcombe’s mild and sunny micro-climate.

‘Princess Yachts have been crafted in Plymouth since 1965.’

For further information about Princess’ office and marina facility, cruising spotlight Plymouth, visit: www.princess.co.uk/location/plymouth-sales/

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See Princess Yachts in Plymouth

Book an appointment

Register your interest to see the range of new Princess Yachts in Plymouth this January.

Royal William Yard, Plymouth Open daily, 9am – 4pm

We are very pleased to welcome you to Plymouth to see the Boot Düsseldorf line-up of Princess yachts. From 22nd – 30th January , there will be appointments available with our sales team to view the following yachts on display:

Princess X95 Global Debut – Princess X80 Princess Y72 Princess F55 Princess V55 Global Debut – Princess V50

In order to ensure the safety and comfort of all customers and staff, this event is strictly by appointment only. Viewings of the yachts can only be permitted by a prior-made appointment. Therefore, we ask that you contact us to book yours – fill in the form below with your details or contact us directly by calling +44 (0)1489 557755

Fill in the form below with your details and a member of our team will be in touch shortly.

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• Preferred date to visit *

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Did you know?

From their beginnings in 1965, over 17,000 Princess Yachts have been manufactured. Now, they build an amazing average of 270 yachts a year. This means that every few days another yacht is completed which is incredible!

Over 21 miles of cable go into a 40 M yacht. If you laid the cable along the road, it would take you all the way from Plymouth to Totnes.

In the furniture factory, the team processes 500 sheets of wood a day. The sheets of walnut or oak are produced in Holland and the trees they are taken from are hand-chosen for Princess.

Around 7 times each month, roads in Plymouth are closed between 2.30am – 4.30am so the yachts can be pulled around the roundabouts and down streets in the wrong direction!

The biggest boat has only 13 mm height clearance under the Marsh Mills flyover and in warm weather the tyres need to be deflated to make it under and through.

Princess Yachts own 4 police cars which are driven by police officers (on non-emergency duty) to escort the boats during the early morning moves.

Princess Yachts

Princess Yachts are famous for building some of the world’s finest and most luxurious yachts, which they manufacture at their  5 different sites in Plymouth and sell all over the world.  The company is extremely proud of their Plymouth heritage – their logo includes the words “Crafted in Plymouth”. 80-85% of everything you see on a Princess Yacht has been made in-house by the company’s Plymouth teams.

“Where there’s warm weather and water, you will find Princess Yachts. There’s always a carefully crafted part of Plymouth floating around some of the most beautiful places in the world”   Antony Sheriff, Executive Chairman, Princess Yachts

Princess Yachts is also honoured to be the first luxury yacht manufacturer to officially partner with the Marine Conservation Society. Since 2016 they have worked together to support marine environments, preserving reefs and sea life for present and future generations.

Typical job roles include: Marine Engineering, Fabrication/Welding, Carpentry, Computer Aided Design,Composites, HR, Learning and Development and Finance

Apprenticeships: Princess Yachts has a variety of four year apprenticeship courses available each year including; Marine Engineering, Carpentry/boat building, CAD Development, Fabricating and Welding, Business Administration, HR, Finance, IT and Composites. Find out more about the company’s Apprenticeship Scheme below in the Get to Know Princess Yachts section.

Princess look for potential apprentices with the right attitude, the right qualities and the desire to fulfil their potential – people who can stand out from the crowd and deliver the high standards of quality and service expected in the luxury yacht business. Applicants need to be dedicated, eager to learn, and keen to combine hands on work with study in their own time.

University Placements  are available in the CAD department.

Graduate Programme : Princess Yachts also offers a graduate programme for those who are leaving university, with opportunities in Accountancy and Finance, Business Operational Management, Commercial, Sales, Human Resources, Naval Engineering, Naval Architecture, Marketing and Communications, Development

Princessyachts.com

3000 Employees Worldwide

5 Plymouth Manufacturing Sites at Stonehouse, Coypool, South Yard, Langage, Lee Mill.

Distributors in over 100 countries.

Get to Know Princess Yachts

Princess yachts apprenticeship scheme (section 1 of 2).

Princess works in partnership with the South Devon Marine Academy which has a dedicated Princess Yachts workshop, equipped with a V40 hull where apprentices can learn skills in all aspects of the business, offering a truly immersive experience.

The Scheme offers a mix of classroom-study with practical work and real experience and gives participants the chance to work with world-class boat-builders and other professionals who are passionate about passing on their knowledge.

The first year of the apprenticeship programme, is undertaken at South Devon College where apprentices complete additional marine qualifications such as RYA Powerboat Level 2, RYA Sea Survival, RYA VHF Radio Operators Licence and RYA First Aid as well as taking part in off water activities.  SEE NEXT SECTION FOR MORE INFO…

PRINCESS YACHTS APPRENTICESHIP SCHEME (Section 2 of 2)

In the third week of an apprenticeship, the apprentices can undertake a week long residential programme at Heatree, Exeter with activities such as canoeing, rock climbing and abseiling to learn new skills including team working, self-motivation and leadership.

Apprentices’ are also taken to the Southampton Boat Show where they enjoy attending the Princess Yachts stand to really help them grasp the bigger picture and understand the exceptional global luxury brand that they are now part of.

After their first year is completed, each Apprentice is assigned to work at one of Princess Yachts’ five sites around Plymouth where they will be fully trained in their specialism.

Find out more about the Apprenticeship Scheme here

LUXURY MOTOR YACHTS AND SUPER YACHTS

Princess Yachts craft a range of highly developed luxury yachts, which are said to be the envy of the yacht manufacturing and retail community.

At 40 metres long, the Princess 40M is the company’s largest yacht to date and is classed as a super-yacht. It has the luxury price tag of £18 million! Across the yacht’s three decks, there are sunbathing hideaways, a spa bath, dining areas and even a walk-in beach club.

Click here to take a 360 tour of the Princess 40M and see the amazing craftsmanship of the Plymouth yacht building teams.

The M Class super-yachts are constructed in one of Plymouth’s most historically important areas at South Yard, which is a former naval yard dating back to the 17th century and where the city’s dockyard originally began.

CAREFULLY DESIGNED INTERIORS

As you can see here, the Y85 caters for relaxation as well as speed. The flybridge has a fantastic deck for enjoying the sights and sounds of the ocean and marinas while the saloon creates an elegant space for seating and dining.

There is a careful design process for every element of a Princess Yacht. Each newly designed yacht goes through a Mock-Up stage. This is a one-to-one scale replication of the final yacht to test exactly how the new layout works, to check head heights, door way functionality, and how the furniture and materials will feel in the space. You can watch a film about the Mock-Up Stage here.

NEW PERFORMANCE SPORTS YACHTS

The R Class is the brand new range of performance sports yachts by Princess. The R35 pictured here, is a revolutionary yacht which was designed in conjunction with Ben Ainslie Racing Technologies (yes – Ben Ainslie – one of the most successful Olympics sailors of all time!) and legendary Italian car designers, Pininfarina.

This yacht can reach a top speed of 50 knots. Only the fastest swimming fish in the world could keep up with the R Class yachts.

To confuse the eye and help conceal its design until its official launch, the prototype R35 was actually covered in dazzle camouflage which was created by Plymouth College of Art student, Katie Sheppard. Take a look at the sea trial of the prototype R35 in its dazzle camouflage design here.

SEE INSIDE PRINCESS

If you would like to see more inside Princess Yachts, watch some of their manufacturing processes, find out how the yachts are tested on water and understand the company’s amazing history and craftsmanship – visit the Princess Yachts webpage here  “Inside Princess” and scroll down to watch their interesting video.

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Used Princess 98 Motor Yacht

ABOUT THE 98MY

Launched in 2011 and still produced today, the Princess 98MY was the largest motor yacht ever built at the Princess Yard in Plymouth, England when first released. Setting new levels for luxury and size, this 98-foot vessel boasts tastefully appointed interior spaces of unrivalled spaciousness, a soaring open-air flybridge and room for up to 8 overnight guests. From profile the yacht immediately impresses thanks to its classic lines, navy-blue gel-coat hull and sweeping angular windows for a balanced mix of modernity and craftsmanship.

Interested?

Contact a SI Sales Professional to learn more about this yacht.

Princess Yachts Available for Sale

Additional princess yachts models.

SPECIFICATIONS

• Beam 23' 2"
• Draft 6' 1"
• Displacement 212,000 lbs.
• Engine Manufacturer MTU
• Fuel Capacity 2,905 gallons

The elegant and artful exterior and inside spaces aboard the 98MY were the first Princess yachts to be designed in collaboration with LVMH stable-mates Fendi Casa, for sumptuous levels of comfort and style. The open flybridge benefits from a retractable sunroof, a four-pad sunbed, adjoining U-shaped and L-shaped sofas to port, a full-sized marble-top wet bar and outdoor grill as well as a solid teak dining table. There is adaptable space at the rear for further seating, a shallow spa pool or storage space for up to two water toys. An elevated helm station with two cocoa leather piloting seats has superb visibility towards the bow and all of the navigational equipment, including a comprehensive Furuno-brand system, required to confidently steer your vessel around coastlines and coves.

The 98MY’s secluded foredeck space boasts a Movida sunpad and Portuguese Bridge sofa with coffee table, making it the perfect place for a pre-meal aperitif or a spot of afternoon sunbathing. Wide side decks laid out in teak lead towards a spacious aft deck with a U-shaped transom sofa and table, while the rear hydraulic swimming platform extends to double length with enough room to host a water polo team.

Stepping indoors and the refined touch of design house Fendi is very much in evidence. Glazed walnut walls, cabinetry in cherry and lavishly carpeted floors usher guests into a world of sophistication. An L-shaped sofa dominates the rear salon, while a formal dining space with teak table adjoins an enclosed full-sized modern kitchen to port with marble or granite worktops and Miele appliances. Further seating is provided close to the lower helm station, while central steps then lead you down towards plush lower-deck bedrooms.

The full-beam amidship master stateroom features a walk-in closet, a large ensuite with bath-shower and couple’s sinks, a workstation desk and two fitted lounge chairs to starboard. Two further staterooms and an ensuite twin on this level mean that your total of 8 overnight guests need not be cramped in tight bunk berths. Lower areas benefit from extra natural light due to the extensive use of mullioned windows and portholes, while a skylight above the V-berth illuminates the space towards the bow. The Princess 98MY is also fitted with a rear crew quarters with room for up to 3, including a separate galley and bathroom.

Twin Caterpillar C32A or twin MTU M94 diesel engines provide top speeds of up to 31 knots and comfortable cruising speeds of 22 knots, impressive for a yacht of this size and weight. ABT bow and stern thrusters, meanwhile, offer increased agility when turning into marina settings, and a good night’s rest is guaranteed thanks to the use of ABT TRAC at-anchor stabilizers.

SI Yachts won the #1 Princess Yachts Dealer Award for 2020, as well as our own David Hallinan winning #1 Princess Sales Professional of the Year. From our factory-trained sales team, to our ability to take a trade, to our industry-leading service capabilities, there is no one better to help you purchase a new or pre-owned Princess boat for sale.

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Brand story

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After releasing the very first Princess motor yacht in 1965 – 31-ft Project 31 – Princess Yachts have become a leader of the motor yacht industry. Legendary flybridge models, innovative long-range X Class, sporty V and S Class as well as the newest R Class with outstanding high-performance characteristics – every single Princess yacht represents the ultimate handcrafted luxury on water that provides its owners with best experiences. What makes Princess Yachts stand out from other motor yacht brands? The core of the brand concept is vivid – every Princess yacht owner experiences the exceptionally built yachts with phenomenal level of handcrafted detailing. Perfect maneuverability and handling, beautifully furnished luxurious interiors, durability and comfort – this is what is concealed in every Princess yacht. Located in Plymouth, Great Britain, Princess Yachts’ shipyard has one of the most advanced building infrastructures in the world that enables the construction of high-quality motor yachts implementing on board technologies of the future. Every Princess yacht conceives a perfect balance of style and material that unifies innovations and heritage, creativity and cutting-edge technologies. Being a part of Moët Hennessy Louis Vuitton SA (LVMH), Princess Yachts is a synonym of luxury yachting that has become one of the most influential brands in the world.

Brief history of Princess Yachts Limited

Princess Yachts established as Marine Projects (Plymouth) Ltd to deal with technical maintenance and chartering of Project 31 yacht. Afterwards, the yacht was sold. The company then realized that it was a good chance to grow substantially by selling yachts. Between 1966 and 1969 more than 150 yachts have been successfully built and sold.

After Project 31 success, Princess started to make GRP-formation and released its first Princess 32 that was then showcased during boat show in London. In a decade, more than 1200 yachts have been sold, what made this yacht a true best-seller of all time. Local and foreign agents were hired and the distributor network was.

John Bennett appointed to design two new models to compliment Princess 32.

Princess 37 had had launched during boat show in London, as well as Princess 25 was introduced later that year.

Based on Princess 37 the very first flybridge yachts launched in different variations. In addition, the Lee Mill infrastructure was opened as a mould store, developed by Bernard Olesinski.

Princess 30DS was the first next-generation yacht designed by Bernard Olesinski.

More than 500 yachts sold. This trend started a brand new approach. Its core idea lays in profound salon detailing of every model. This is one of the core brand concepts Princess Yachts still follows.

Premiere of the Princess 45, the all-time design of a motor yacht and the biggest, which was mass produced at that time. More 900 yachts have been sold in 9 years. Princess 45 was replaced by the newest Princess 455.

The very first sport yacht built – Princess 286 R. It was developed for the needs of the Mediterreanean market.

Brand new manufacturing facility «Langage 1» is built with volume 4200 sq. m in Plymouth.

Princess 62 is launched. It was the largest mass-produced motor yacht built in Britain.

First V class sport yachts are built: Princess V39 and Princess V52, which were later established as a base for future yachts.

The very first «Metre» yacht is built – Princess 20 Metre.

New headquarters opened on Newport street. The shipyard acquires Coypool facility (30000 sq.m), also Langage facility is extended to Langage 2 to produce V class yachts. Princess 52 construction started, which were the first yachts to have electronic diesel engines installed.

Princess v65 mass production started, the largest yacht of the range.

Marine Projects renamed to Princess Yachts International plc.

The company celebrates 40 th anniversary, being the world leader in yacht mass-production.

The construction of Princess 95 Motor yacht flagship started.

Princess V class extended to Princess V85, the biggest yacht in the range. Princess 85 Motor Yacht, Princess 50 and Princess V62 also added to the model list.

Princess Yachts is to be the first European yacht manufacturer to acquire ISO14001 certificate as a recognition of achievements in lowering negative impact on nature. 5 new yachts are added to the model range with Princess 72 Motor Yacht and Princess V85-S. Princess climbs 37 points up in Sunday Times HSBC Top track 250 rating.

Princess Yachts presents the very first M class yacht during London Boat Show – Princess 32M, and 3 other boats later that year. Princess acquires ownership of South Yard industrial complex from the Ministry of Defense and funding from the regional development government to increase the growth of the production.

Princess Yachts achieves British standard OHSAS 18001 certificate in security management and health of the employees. Princess Yachts becomes the first major British motor yacht manufacturer to achieve RINA Green Plus (Y) level for every yacht in V class and flybridge range with length under 24 meters.

This year is very important for the shipyard. V39 – the smallest yacht built for the last decade as well as the biggest superyacht every built in history of the shipyard – Princess 40M. The 132-feet superyacht listed as the biggest yacht built in Great Britain with resin-unfused composite hull. Princess V52 prized as «Best sportcruiser 45 ft+». David King founder and CEO of Princess Yachts Ltd awarded with special jury prize «Motor Boat of the Year Awards 2012». Princess V39 awarded in USA as «Best foreign motor yacht 30-40 feet» during AIM Media Marine Group Editor’s Choice Award 2012. In 2012 V57, 56 and Princess V62-S were built reaching the total number of new added yachts in the year to 5.

The release of Princess 52, 82 Motor Yacht and 88 Motor Yacht. The shipyard starts building the first yacht with IPS drive system – Princess V48. The first Princess 40M superyacht is awarded with prestigious World Superyacht Award in nominations «Trideck gliding or semi-displacement motor yacht» and «Best mass produced motor yacht from 24 to 40 m» during 9-th Asia Boating Awards. The other M class yacht – Princess 32M – is awarded with «Best mass produced motor yacht in the range of 30m» during Hurun Report’s Best of the Best Awards. It was also a successful year for V class. V39 was awarded second year in a row as «Best sportcruiser under 45 feet» during Motor Boat Awards. In Japan V52 awarded as «Best foreign large yacht» and «Yacht of the 2012». The company awarded with «Large Company of the Year» during Herald Business Awards 2013 and «Best brand collection» during Helm Singapore Yacht Show.

Princess presents Princess S72, the brand-new S class yacht with sportbridge. The development of the new M class superyacht is in full swing, which will be announced in 2015. Two flybridge yachts awarded: Princess 43 wins in the category «Flybridge yacht under 55 feet» during Motor boat Awards and Princess 56 wins «Best foreign large yacht» during Boat of the year in Japan.

Princess Yachts celebrates its 50 th anniversary since the establishment in 1965. For this occasion, Princess Yachts releases renovated Project 31 – the very first Princess yacht. The yacht was showcased during Cannes Yachting Festival along with the sales start of Princess 35M. S class range updated with Princess S65. Later this year the shipyard launched open versions of Princess V58 and V48. Princess S72 and V48 are awarded during Motor Boat Awards. Princess 40M wins the category «Best semi-custom yacht in the World in the range 25 m+» during Asia Pacific Boating Awards.

The English shipyard launches new Princess 75 Motor Yacht and new M class superyacht – Princess 30M. Princess 49 with IPS engine added to the flybridge range.

In January two Princess yachts – 75 Motor Yacht and V58 – are awarded as «Best Yacht of the Year» during Motor Boat Awards. The shipyard refreshed its sports yacht range with Princess V40, which premiered at boot Düsseldorf in Germany. The brand-new Princess S60 showcased during London Boat Show. Princess 30M superyacht wins «Best semi-custom superyacht in the range from 30 to 33.9 m» during World Superyacht Awards. During Cannes and Southampton yacht festivals Princess 55 and 62 were premiered. In Cannes Princess Yachts presented its first unique client-oriented service – Princess Lifeline SOS-service. 2017 is a record-breaking year for Princess Yachts: the volume of the order book exceeds 1 billion dollars. Today the company is one of the bespoke luxury yachts manufacturer, that builds 20 different models in the range of superyachts, motor flybridge yachts. V class sport yachts and S class sportbridges, R class performance yachts in the range 39 to 132 feet and has a network with more than 50 distributors around the world.

Plymouth's Princess Yachts set for growth after being taken over by US private equity giant

KPS Capital Partners takes controlling stake in Stonehouse-headquartered boat-maker and promises investment

• 10:00, 14 FEB 2023

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Princess Yachts has been taken over by a major American private equity firm in a deal which will take the Plymouth company “to the next level”. New York-headquartered KPS Capital Partners has entered into an agreement to acquire a controlling interest in Princess Yachts (Holdings) Ltd, and said the investment will accelerate the company’s growth and innovation.

Existing shareholders will retain ownership in the company under the deal. Completion of the transaction is expected by the end of March.

KPS runs a family of investment funds with more than US$14.4bn of assets under management. For more than 30 years it has been acquiring manufacturing businesses and its current portfolio includes component maker Autokiniton, light vehicle manufacturer AM General, Briggs and Stratton engines, battery maker C&D Technologies, and plant-based foods business Primient.

Antony Sheriff, chief executive of Princess Yachts, said the deal will enable the Plymouth firm, the UK’s largest manufacturer of luxury yachts, to grow and bring out new models. He said: “We are thrilled to partner with KPS for this exciting new chapter for Princess Yachts. KPS and the Princess Yachts team are deeply committed to investing in the company’s future while continuing to further strengthen our portfolio of best-in-class motor yachts.

“With a current order book nearing a record US$1bn and many model lines sold into 2025, we have never been in a stronger commercial position. Together with KPS’ tremendous track record of manufacturing excellence and investing in leading brands, we are now positioned to take Princess Yachts to the next level of industry leadership in quality and innovation. Under KPS’ ownership, we will accelerate a range of growth and operational initiatives to build upon our long and successful history.”

KPS’ portfolio of companies already generates total annual revenues of about US$22bn, operates 232 manufacturing facilities in 27 countries and combined has about 53,000 employees. KPS said it creates value “almost exclusively through operational and performance improvement”.

Ryan Harrison, a partner of KPS Mid-Cap Investments, said: “We are excited to make this significant investment in Princess Yachts, a leading company in the luxury global yachting industry with an iconic brand grounded in British tradition, a remarkable and growing product range, and world-wide reputation for quality and innovation. KPS’ investment will accelerate Princess’ growth trajectory and fund numerous investments for its future. We look forward to working with Princess’ existing stockholders, chief executive Antony Sheriff, the senior leadership team, and the talented employee base at Princess Yachts.”

Princess Yachts was acquired by L Capital 2 FCPR, an investment group co-sponsored by LVMH (Moët Hennessy Louis Vuitton) and Groupe Arnault in 2008. In January 2016, L Capital merged with Catterton to become L Catterton, now recognised as the largest global consumer-focused investment firm.

Last year L Catterton hired bankers at Macquarie to find a buyer for Princess Yachts . At the time, Princess Yachts told PlymouthLive it was looking to start discussions with potential investors to provide financial support needed to build a huge new factory at its Devonport operation.

In late 2021, PlymouthLive revealed Princess Yachts wants to build another factory in Plymouth’s freeport area in the South Yard so it can produce more vessels, employ more people and fulfil a US$1bn order book. The company was also undergoing a sales boost, now selling more than 300 boats annually.

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