Speed range: 22-24 knots†
* Displacements are calculated with 50% fuel and water with liferaft but with no optional equipment fitted or other gear. † Maximum speeds will vary depending on cleanliness of hull, condition of sterngear, loading of craft, water and air temperatures, sea conditions and other factors. Speed estimates are therefore given in good faith but without warranty or liability on the part of Princess Yachts Limited. Craft illustrated in this brochure may be fitted with certain optional equipment. Specifications may be changed at any time without notice or liability.
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KPS Capital Partners takes controlling stake in Stonehouse-headquartered boat-maker and promises investment
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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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Water capacity (excl. calorifier): 1,480 l. Engines: TWIN MAN V12-2000 (2 x 2,000mhp) Maximum speed: range – 31-33 knots+. Exclusive: BOAT steps on board British builder Princess Yachts' newest model ahead of its world premiere at Cannes Yachting Festival. Meet the S Class flagship – the 25.4-metre S80, with naval architecture by Olesinski.
Princess Yachts reveals X90 yacht model with new cockpit design. 10 September 2024 • Written by Dea Jusufi. British yard Princess Yachts has announced the latest addition to its X Class series, known as the X90. The 27.4-metre model will sit between the 24.3-metre X80 and the series flagship, the X95 Vista. Launch is anticipated for 2026.
The new Princess X90 yacht continues that concept, with a few twists. She’s a cockpit motoryacht, a first for the British builder. The cockpit isn’t standard-looking, though, in keeping with the non-traditional overall styling. Instead, it has an aft glass parapet. In combination with fold-down bulwarks, it lends the sensation of much more ...
The announcement of the Princess F58 Motor Yacht marks a significant milestone in the world of luxury yachting. With its innovative design, cutting-edge technology, and unparalleled craftsmanship, the F58 sets a new standard for performance, luxury, and entertainment in the Princess F Class.
There will be a pair of Princess world premieres at Cannes Boat Show in the form of the Princess S65 and Princess S80. But Alex Smith has already taken the S65 out for a spin The Princess S65 is an impressive luxury yacht, designed to offer a more accessible version of the larger Princess S72 while maintaining many of its key features.
NEW YORK, Feb. 13, 2023 /PRNewswire/ -- KPS Capital Partners, LP ("KPS") announced today that it has entered into a definitive agreement to acquire a controlling equity interest in Princess...
The flagship of the Y Class range, the all-new Princess Y95. Similar in aesthetic styling to the new X95, yet holding the classic elegance defined by the Y Class, the Y95 presents a class-leading experience.
The Princess Y72 is a new addition to the Y Class range, delivering a new level of design, interior ambience and space alongside stunning performance.
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”.