princess yachts cfo

Princess Yachts

Graham Maxa

CFO at Princess Yachts

Graham Maxa is the current Chief Financial Officer at Princess Yachts. Prior to their current position, they were the Financial Controller at Renault F1 Team from April 1998 to March 2000. Their responsibilities included producing a comprehensive rolling financial and cashflow forecast of the F1 team operations, managing a finance team of 5, and running the year end cycle. Graham was also the primary finance contact with the Italian based head office of the Benetton Group. From June 1992 to July 1994, Graham Maxa was the Management Accountant at Esselte in the Letraset Division. And from August 2013 to March 2017, they were the Finance Director at Fine Tubes. Their role there focussed on effective reporting, debt reduction, strengthening the management team and a PE exit. In May '15, they lead the UK due diligence, concluding in the $200m sale to Ametek Inc.

Graham Maxa reports to Antony Sheriff, Executive Chairman and CEO. They work with Paul Mackenzie - Chief Operating Officer, Will Green - Chief Sales Officer, and Kiran Jay Haslam - Chief Marketing Officer.

Dawn Colton Cmgr McMi

Head Of Compensation And Reward

Leadership Team

Current role

Related people

Esther jacobs, vinod menon.

Landmark Group

Kenneth P. Gianella

Vijay bharadia.

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

Get the stories that matter to our community straight to your inbox with our Daily Newsletter

We have more newsletters

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.

Want more of the news you love? Sign up to our bespoke newsletters here .

Plush flats snapped up at Plymouth's Harbour Arch Quay before it's even finished

The Range boss Chris Dawson to build 'mega shed' so big it can be seen from space

Plymouth online retailer CMO makes redundancies

• Princess Yachts
• Most Recent

KPS CAPITAL PARTNERS TO ACQUIRE CONTROLLING OWNERSHIP OF PRINCESS YACHTS

Investment will Accelerate Company's Growth and Innovation

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 Yachts (Holdings) Limited, ("Princess Yachts" or the "Company"), a leading global manufacturer of luxury motor yachts.  Existing stockholders will retain ownership in the Company.  Completion of the transaction is expected in the first quarter of 2023 and is subject to customary closing conditions and approvals. 

Princess Yachts is a leading builder of luxury motor yachts and is recognized for its timeless design, hand-crafted quality and exceptional seakeeping.  Headquartered in Plymouth, England , the Company's unparalleled level of vertical integration – including on-site design, engineering and manufacturing – has helped position Princess Yachts as one of Britain's most iconic luxury brands.  Princess Yachts serves a global customer base through its best-in-class international dealer network.  The Company has approximately 3,200 employees and operates five manufacturing facilities in Plymouth, England .

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 worldwide 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 Officer Antony Sheriff , the senior leadership team and the talented employee base at Princess Yachts."   

Antony Sheriff , Chief Executive Officer of Princess Yachts, 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 $1 billion 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."

Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to KPS.  Macquarie Capital and Latham & Watkins LLP served as financial advisor and legal counsel, respectively, to Princess Yachts.

About Princess Yachts Princess Yachts is a leading builder of luxury motor yachts and is recognized for its timeless, understated design, unique craftsmanship and exceptional seakeeping.  Headquartered in Plymouth, England , the Company's unparalleled level of vertical integration – including on-site design, engineering and manufacturing – has helped position Princess Yachts as one of Britain's most iconic luxury brands.  Princess Yachts serves a global customer base through its best-in-class international dealer network.  The Company has approximately 3,200 employees and operates five manufacturing facilities in Plymouth , England.  For additional information, please visit www.princessyachts.com .

About KPS Capital Partners KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with over $14.4 billion of assets under management (as of September 30 , 2022).  For nearly three decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing.  KPS creates value for its investors by working constructively with talented management teams to make businesses better and generates investment returns by structurally improving the strategic position, competitiveness, and profitability of its portfolio companies, rather than primarily relying on financial leverage.  The KPS Funds' portfolio companies have aggregate annual revenues of approximately $22.0 billion , operate 232 manufacturing facilities in 27 countries, and have approximately 53,000 employees, directly and through joint ventures worldwide.  The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com .

SOURCE KPS Capital Partners, LP

• Destinations & Hotel Guide

• NEWSLETTER Sign up!
• MAGAZINE Subscribe!

Princess Yachts acquired by private equity firm KPS Capital Partners

Princess Yachts announced today that KPS Capital Partners, LP has entered into a definitive agreement to acquire a controlling equity interest in the luxury yacht builder. Existing shareholders will retain ownership in the company. Completion of the transaction is expected in the first quarter of 2023 and is subject to customary closing conditions and approvals.

The moves come after the company announced exciting expansion plans last year as part of the successful bid by Plymouth City Council to create a Freeport in the region and this new investment will help support these plans and reinforces the unique national and international marine capabilities that reside in Plymouth and the wider South West region.

Ryan Harrison, a Partner of KPS Mid-Cap Investments, said, “We are excited to make this significant investment in Princes 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 in novation. 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 Officer, Antony Sheriff, the senior leadership team, and the talented employee base at Princess Yachts.”

Antony Sheriff, Chief Executive Officer of Princess Yachts, 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 $1 billion 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.”

The continuing strength of the marine sector in the UK region has been identified as a key growth opportunity by the Great South West pan-regional partnership and this new investment will help strengthen Princess Yachts ’ commitment to supporting these opportunities both nationally and internationally .

IN THE NEWS

50m bilgin eternal spark for charter, 62m project nacre in build on speculation, feadship launches project 821, the world’s first hydrogen fuel-cell superyacht, feadship’s environmental roadmap continues with project 713.

• Sign In / Register
• Update your database profile
• Business Services
• Consumer/Retail
• Energy/Power
• Financial Services
• Industrial/Manufacturing
• Women in Private Equity
• European PE deal-making data
• Sign-in FAQ
• About PE Hub Europe
• Suggest a story

Nearly there!

A verification email is on its way to you. Please check your spam or junk folder just in case.

Need help signing in?

Issues with signing in? Click here

Don't have an account? Register now

KPS Capital to take the helm of Princess Yachts

Princess Yachts is a global manufacturer of luxury motor yachts.  

• Princess Yachts’ existing stockholders will maintain their stakes
• KPS is a global private equity firm headquartered in New York
• The deal is likely to close in the first quarter of 2023, subject to regulatory nods

KPS Capital will acquire a controlling equity interest in Princess Yachts, a global manufacturer of luxury motor yachts.

Princess Yachts is headquartered in Plymouth, England. The firm employs 3,200 people.

Princess Yachts’ current stockholders will maintain their stakes in the firm.

The deal is likely to close in the first quarter of 2023, subject to regulatory approvals and customary closing conditions.

“KPS’ investment will accelerate Princess’ growth trajectory and fund numerous investments for its future,” said Ryan Harrison, a partner of KPS Mid-Cap Investments. “We look forward to working with Princess’ existing stockholders, chief executive officer Antony Sheriff, the senior leadership team and the talented employee base at Princess Yachts.”

Paul, Weiss, Rifkind, Wharton & Garrison served as legal counsel to KPS.

KPS is a global private equity firm headquartered in New York. The firm is the manager of KPS Special Situations Funds, a family of investment funds with more than $14.4 billion of assets as of 30 September 2022.

Macquarie Capital and Latham & Watkins were the financial advisor and legal counsel, respectively, to Princess Yachts.

• Privacy Notice
• Cookie Notice
• Terms & Conditions

Register now

Get limited access to our industry news, analysis and data, plus regular email updates

To register, please review and accept our terms and conditions and privacy notice .

Sign in to your account

Email address not recognised.

Don't have an account? Click here to register

Copyright PEI Media

Not for publication, email or dissemination

Onex goes for majority stake in cartridge packaging biz Fischbach

CapVest’s Inspired Pet Nutrition adds on Butcher’s Pet Care

Insight expects further healthcare momentum in H2

• Big boats and superyachts , LIFESTYLE , News , Press releases , Yatching

Princess Yachts sold to US-based KPS group

• Alessio Molla
• February 14, 2023

This definitive agreement will lead KPS Capital Partners to acquire a controlling equity interest in the historic company which, founded in 1965, has been owned by the private equity group L Catterto since 2002. The deal is expected to be completed in the first quarter of 2023 and will see existing shareholders retain ownership of the company.

The announcement comes after the company unveiled its expansion plans just last year, which also include the construction of a new facility in Devonport; an absolutely strategic operation then, as Princess itself confirms: “ it iwll help support these plans and reinforce the unique national and international marine capabilities that reside in Plymouth and the wider SouthWest region”.

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 Officer, Antony Sheriff, the senior leadership team, and the talented employee base at Princess Yachts”.

Antony Sheriff, Chief Executive Officer of Princess Yachts, adds: “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 $1 billion 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.”

It goes without saying that, at a time in history marked by great uncertainty, this acquisition lays a solid foundation for the future of Princess Yachts, which will be able to quickly return to meeting the needs of its customers from around the world.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Save my name, email, and website in this browser for the next time I comment.

Language switcher

Browse categories.

You might be interested in

ICE YACHTS: at the Cannes Yachting Festival with two out-of-the-ordinary sailing yachts

Ocean Alexander 28L, the latest addition to the Legend series

Nuova Jolly in Genoa with 2 world premieres and 6 RIBs on display

Ponza Boat Ticket: details and rates

© 2021 – THE INTERNATIONAL YACHTING MEDIA Designed by BLive Communication

ABOUT YACHTINGNEWS.COM

Yachting News is an interactive multimedia magazine dedicated to the world of boating.

The International Yachting Media is the worlds most widely read boating magazines network. Whit its portal It broadcast its original contents in five languages and in more than 200 countries developing 950,000 views a week. Our web portals are the main source of information for yacht and boat owners, the place where they can find anything about their boating passion.

THEINTERNATIONALYACHTINGMEDIA.COM  | SUPERYACHTS.NEWS | YACHT DIGEST

VIRTUAL BOAT SHOW |  TUTTTOBARCHE |  TOUSLESBATEAUX |  TODOSLOSBARCOS

BOATING NEWS FREE APP

To provide the best experiences, we and our partners use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us and our partners to process personal data such as browsing behavior or unique IDs on this site and show (non-) personalized ads. Not consenting or withdrawing consent, may adversely affect certain features and functions.

Click below to consent to the above or make granular choices. Your choices will be applied to this site only. You can change your settings at any time, including withdrawing your consent, by using the toggles on the Cookie Policy, or by clicking on the manage consent button at the bottom of the screen.

Subscribe For Latest Updates

Sign up to receive the best of Yachting News, sea trials, boat review and world premieres .

The only ADVERTISING FREE newsletter

Active Investments

Princess Yachts

Princess Yachts is a leading builder of luxury motor yachts and is recognized for its timeless design, hand-crafted quality, and exceptional seakeeping.  Headquartered in Plymouth, England, the Company’s unparalleled level of vertical integration – including on-site design, engineering, and manufacturing – has helped position Princess Yachts as one of Britain’s most iconic luxury brands.  Princess Yachts serves a global customer base through its best-in-class international dealer network.  The Company has approximately 3,200 employees and operates five manufacturing facilities in Plymouth, England.   www.princessyachts.com

News Articles

Mar 15, 2023 KPS Capital Partners Completes Acquisition of the Controlling Ownership of Princess Yachts

Feb 13, 2023 KPS Capital Partners to Acquire Controlling Ownership of Princess Yachts

One Vanderbilt Avenue, 52nd Floor New York, NY 10017 T: 212.338.5100 | F: 646.307.7100

• Investments
• Investor Login

You are using an outdated browser. Please upgrade your browser to improve your experience and security.

• Leisure Marine
• Maritime, Commercial & Defence
• Boats and Outboards
• Construction Materials
• Engines and Propulsion Systems
• Marina and Yard
• Marine Electronics
• Safety Equipment
• People on the move
• Shows & Events

Princess Yachts sold to US investor

Tuesday, February 14th, 2023

Written by: Marine Industry News

Plymouth-based Princess Yachts, Britain’s largest luxury boatbuilder, has been sold to a US-based private equity firm.

Princess was put up for sale in 2022 by private equity group L Catterton, who reportedly hired bankers at Macquarie to find a buyer.

In a statement issued this morning (14 February 2023), Princess confirms that KPS Capital Partners has entered into a definitive agreement to acquire a controlling equity interest in the business.

KPS is a New York-based private equity giant that makes controlling equity investments in manufacturing companies, in North America and Europe. The firm has approximately $14.4 billion of capital under management, as of September 2022.

In 2019, KPS acquired the fitness equipment business of Brunswick Corporation , including the Life Fitness brand, for $490 million in cash.

Existing shareholders will retain ownership in Princess, with the transaction expected to be completed in the first quarter of 2023.

The moves come after the company announced expansion plans last year as part of the successful bid by Plymouth city council to create a freeport in the region . Princess says this new investment from KPS will ‘help support these plans and reinforce the unique national and international marine capabilities that reside in Plymouth and the wider South West region’.

The Princess business was founded in 1965, and distributes through a 50-strong global network. It had been backed by L Catterton and its predecessor entity since 2008.

Ryan Harrison, a partner of KPS Mid-Cap Investments, says: “We are excited to make this significant investment in Princes 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 officer, Antony Sheriff, the senior leadership team, and the talented employee base at Princess Yachts.”

Antony Sheriff, Princess Yachts ‘ chief executive, adds: “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 $1 billion 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.”

• Princess Yachts' news ,
• Acquisitions in the marine industry

D-Marin enters Spanish market for the first time

Sunsail upgrades tenders with electric outboards in the Med

Wednesday, February 15th, 2023

Comments are closed.

This article was written and/or edited by the UK-based MIN team.

MIN magazine

Dive into MIN’s print edition which is now online for your convenience. More stories, more in-depth features, more product news and more exclusive interviews. Enjoy thoughtful analysis of the marine trade sector from across the world and get onboard with new trends.

By SuperyachtNews 31 May 2019

A record year for Princess Yachts

The british superyacht-manufacturing stalwart has announced record breaking financial results, a strong order book and a thriving apprenticeship scheme….

Princess Yachts has today announced record financial results, plus new records for yacht sales and employment at its Plymouth headquarters. The 2018 results signal the British manufacturer’s most successful year in its illustrious 54-year history. Financial results for the year ending 31 December 2018 show turnover of £340.3m (up £65m/24 per cent on 2017) and record opening project before exceptionals of £29.8m (up £10.9/173 per cent). EBITDA for 2018 was £32.8m up from £14.9m in 2017.

“I am really proud of what the Princess team has achieved in 2018. Their focus and dedication enabled Princess to build on the previous two years of solid financial figures and beat 2017’s record results,” comments Antony Sheriff, executive chairman of Princess Yachts. “The team launched six stunning new luxury yachts while growing revenues to over one third of a billion pounds.”

In 2018 Princess hit a record high for employment of 3,200. Recruitment has taken place across the business from engineering to exterior design, manufacturing to management, making Princess one of the UK’s largest specialist manufacturers. Princess also increased investment in is successful apprenticeship programme with 40 new apprentices brought into the business; apprentices now make up four per cent of the workforce with a 100 per cent retention rate following qualification.

Traditionally, the superyacht industry has been poor at educating governments and investors at quite how effective it can be as an employer and economic contributor. The success of Princess business model and its flourishing apprenticeship scheme is a testament to how the superyacht community can contribute to the wider community.

“These strong financial figures will enable us to build upon our unique, highly integrated infrastructure in Plymouth and invest even more in advanced technologies, new yachts and quality levels across design and production,” continues Sheriff. “We continue to forge ahead in our vision to be not just the highest quality, most innovative and successful luxury yacht manufacturer in the world, but also a great British employer.”

“It’s fantastic to see these latest figures from Princess Yachts," comments Lesley Robinson, CEO of British Marine. "The sector has recently celebrated its sixth consecutive year of growth, so it’s safe to say demand for UK manufactured luxury yachts is at an all-time high. We are proud that the UK remains an international hub for expertise and craftsmanship, particularly during uncertain economic times.”

According to The Superyacht Agency, Princess Yachts has delivered an average of 3.1 vessels per year since 2011. Since 2015, however, the British superyacht-manufacturing stalwart has delivered an average of four vessels per year and, if Princess’ order book proves to be accurate, the yard will have its most prolific year to date in 2019 with eight vessels scheduled for delivery.

Profile links

Princess Yachts

Join the discussion

To post comments please Sign in or Register

When commenting please follow our house rules

Click here to become part of The Superyacht Group community, and join us in our mission to make this industry accessible to all, and prosperous for the long-term. We are offering access to the superyacht industry’s most comprehensive and longstanding archive of business-critical information, as well as a comprehensive, real-time superyacht fleet database, for just £10 per month, because we are One Industry with One Mission. Sign up here .

Sign up to the SuperyachtNews Bulletin

Receive unrivalled market intelligence, weekly headlines and the most relevant and insightful journalism directly to your inbox.

Sign up to the SuperyachtNews Bulletin

The superyachtnews app.

Follow us on

Media Pack Request

Please select exactly what you would like to receive from us by ticking the boxes below:

SuperyachtNews.com

Register to comment

KPS CAPITAL PARTNERS TO ACQUIRE CONTROLLING OWNERSHIP OF PRINCESS YACHTS

Share This Article

Investment will Accelerate Company's Growth and Innovation

NEW YORK, February 13, 2023-- KPS Capital Partners, LP ("KPS") announced today that it has entered into a definitive agreement to acquire a controlling equity interest in Princess Yachts (Holdings) Limited, ("Princess Yachts" or the "Company"), a leading global manufacturer of luxury motor yachts. Existing stockholders will retain ownership in the Company. Completion of the transaction is expected in the first quarter of 2023 and is subject to customary closing conditions and approvals. Princess Yachts is a leading builder of luxury motor yachts and is recognized for its timeless design, hand-crafted quality and exceptional seakeeping. Headquartered in Plymouth, England, the Company's unparalleled level of vertical integration – including on-site design, engineering and manufacturing – has helped position Princess Yachts as one of Britain's most iconic luxury brands. Princess Yachts serves a global customer base through its best-in-class international dealer network. The Company has approximately 3,200 employees and operates five manufacturing facilities in Plymouth, England. 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 worldwide 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 Officer Antony Sheriff, the senior leadership team and the talented employee base at Princess Yachts." Antony Sheriff, Chief Executive Officer of Princess Yachts, 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 $1 billion 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." Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to KPS. Macquarie Capital and Latham & Watkins LLP served as financial advisor and legal counsel, respectively, to Princess Yachts. About Princess Yachts Princess Yachts is a leading builder of luxury motor yachts and is recognized for its timeless, understated design, unique craftsmanship and exceptional seakeeping. Headquartered in Plymouth, England, the Company's unparalleled level of vertical integration – including on-site design, engineering and manufacturing – has helped position Princess Yachts as one of Britain's most iconic luxury brands. Princess Yachts serves a global customer base through its best-in-class international dealer network. The Company has approximately 3,200 employees and operates five manufacturing facilities in Plymouth, England. For additional information, please visit www.princessyachts.com. About KPS Capital Partners KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with over $14.4 billion of assets under management (as of September 30, 2022). For nearly three decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing. KPS creates value for its investors by working constructively with talented management teams to make businesses better and generates investment returns by structurally improving the strategic position, competitiveness, and profitability of its portfolio companies, rather than primarily relying on financial leverage. The KPS Funds' portfolio companies have aggregate annual revenues of approximately $22.0 billion, operate 232 manufacturing facilities in 27 countries, and have approximately 53,000 employees, directly and through joint ventures worldwide. The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.

VCPro Database 2024

2024 Mid-Year Edition Now Available!

Price: $119.5 (including an annual update for free in January 2025)

Discover venture capital effortlessly with the affordable VCPro Database , the top directory for venture capital and private equity.

David King to step down as Chairman of Princess Yachts

• Inspiration

Related News

Popular news this week, popular news this month, latest news.

• Yacht Charter & Superyacht News >

Written by Zuzana Bednarova

Having been one of the original founders of the leading UK luxury yacht shipyard Princess Yachts in 1965, David King is to stand down as Chairman at the end of August. Citing his wish for new minds to lead the company forward, Mr King will remain a director and concentrate mainly on new yacht design as well as development, an area in which he has always been actively involved.

After a period of consultation, the Princess board of Directors has appointed Philippe Mellier as its new Chairman.

Mr  Mellier is the CEO of The De Beers Group, the world’s leading diamond company, and was previously the Executive Vice President at Alstom s.a., the world’s leading high-speed train producer. Prior to this, Mr Mellier worked in the automotive sector, holding senior and board-level positions within Ford, Renault and the Volvo Group. He brings to the role uniquely useful experience in high-quality, performance-focused product manufacturing, marketing and sales.

A French national, domiciled in the UK, Mr Mellier will continue as CEO of The De Beers Group and serve in a non-executive capacity at Princess.

Princess Yachts’ Managing Director, Chris Gates, said, “David King is and always will be a part of Princess. He has been a magnificent servant to this Company and the wider British boatbuilding industry. This change of roles will allow us to strengthen and grow the business while still benefiting from David’s unmatched experience and skill in designing the best motor yachts in the world. We look forward to welcoming Philippe into the Princess family and benefitting from the vast experience he brings from the luxury goods and high-performance manufacturing sectors.”

In a statement to the Princess workforce and wider family, David King said, “It has been an incredible journey since 1965. I could not have conceived of the growth and success we have achieved over the years, success that is entirely due to the wonderful people that work here and our Distributors around the world.”

“From our humble beginnings we have become a world-leading company respected across the international boatbuilding sector and one that enjoys secure ownership and management.”

“It has been my privilege and pleasure to work alongside you all and I look forward to working with you still, in my role focusing on product development.”

Please contact CharterWorld - the luxury yacht charter specialist - for more on superyacht news item "David King to step down as Chairman of Princess Yachts".

• Charity & Fund Raising
• CharterWorld News
• Classic Yachts
• Coronavirus
• Cruise Ship
• Ecological Yachts
• Expedition Yachts
• Expert Broker Advice
• Feature Superyachts
• Interior Design
• Legal & VAT Yacht Issues
• Luxury Catamarans
• Luxury Gulet
• Luxury Phinisi
• Luxury Trimarans
• Luxury Yacht Design
• Luxury Yachts
• Marinas & Harbours
• Marine Ecology
• Marine Electronics
• Marine Equipment
• Mega Yachts
• Modern Yachts
• Motor Yachts
• New Launch Yachts
• New To Charter
• Open Style Sports Yachts
• Private Jets
• Sailing Yachts
• Social Media
• Sports Yachts
• Superyacht Crew
• Superyacht Photographers
• Superyacht Products & Supplies
• Superyacht Refits
• Superyacht Reviews
• Superyachts
• Uncategorized
• Yacht Builders
• Yacht Charter
• Yacht Charter Destinations
• Yacht Charter Picks
• Yacht Charter Specials
• Yacht Delivered to Owner
• Yacht Designers
• Yacht Events & Boat Shows
• Yacht Fashion
• Yacht Industry News
• Yacht Photos
• Yacht Racing
• Yacht Racing & Regattas
• Yacht Safety Equipment
• Yacht Support Vessels
• Yacht Tenders
• Yacht Videos
• Yachting Associations
• Yachting Awards
• Yachting Business
• Yachts For Charter
• Yachts For Sale

Quick Enquiry

Superyacht news:.

Email Your Yachting News to: news @ charterworld.com

Princess Yachts

RIVIERA LIVING

All-new Princess 98 Yacht sold

Princess Yachts to attend 2014 PSP Southampton Boat Show

Sir Ben Ainslie to participate in 2015 CWM FX London Boat Show

Princess 40M motor yacht SOLARIS shortlisted for World Superyacht Award 2015

Late summer special offer on board 72m superyacht ARBEMA in the Western Mediterranean

The International SeaKeepers Society will host its 2024 annual Founders Event in October

Special offer for remaining weeks of September on board 51m sailing yacht RED DRAGON

A luxury charter yacht is the perfect way to encounter New England’s fall foliage display

Navigating the World of Luxury Yacht Charters: Your Guide to the Perfect Getaway

OCEA delivers 33m motor yacht ARAOK II to her new owner

39m sailing yacht LINNEA AURORA launched by SES Yachts

A first look at 55m superyacht PROJECT AGNETHA from Heesen Yachts

44m superyacht ORION ONE reaches a construction milestone

40m superyacht HYGGE from MCP Yachts commences sea trials

44m charter yacht JEMS offers 9 days for the price of 7 in August in Italy

Introducing 43m superyacht GIOIA – the sixth hull in the Codecasa 43 range

Rossinavi introduces full custom 50m superyacht BEL1

The global authority in superyachting

• NEWSLETTERS
• Yachts Home
• The Superyacht Directory
• Yacht Reports
• Brokerage News
• The largest yachts in the world
• The Register
• Yacht Advice
• Yacht Design
• 12m to 24m yachts
• Monaco Yacht Show
• Builder Directory
• Designer Directory
• Interior Design Directory
• Naval Architect Directory
• Yachts for sale home
• Motor yachts
• Sailing yachts
• Explorer yachts
• Classic yachts
• Sale Broker Directory
• Charter Home
• Yachts for Charter
• Charter Destinations
• Charter Broker Directory
• Destinations Home
• Mediterranean
• South Pacific
• Rest of the World
• Boat Life Home
• Owners' Experiences
• Conservation and Philanthropy
• Interiors Suppliers
• Owners' Club
• Captains' Club
• BOAT Showcase
• Boat Presents
• Events Home
• World Superyacht Awards
• Superyacht Design Festival
• Design and Innovation Awards
• Young Designer of the Year Award
• Artistry and Craft Awards
• Explorer Yachts Summit
• Ocean Talks
• The Ocean Awards
• BOAT Connect
• Between the bays
• Golf Invitational
• BOATPro Home
• Superyacht Insight
• Global Order Book
• Premium Content
• Product Features
• Testimonials
• Pricing Plan
• Tenders & Equipment

Princess Yachts appoints Will Green as CEO

British shipyard Princess Yachts has appointed Will Green as chief executive officer, following more than 20 years spent with the company. 

To continue reading... you need to register...

Register for FREE unlimited access to all BOATPro News content

Gain FREE access to industry analysis, interviews with marine industry leaders and all the latest news as it happens.

From our partners

• Select Language

YachtQuarters Introduce the Princess Yachts Y72 to Fractional Yacht Ownership

Monday 4th March 2024

With the ever-growing demand for fractional yacht ownership – the ultimate turnkey solution to yachting, Princess have added the refined Y72 to the fleet.  The largest yacht to join the Princess Yachts fractional programme, she exudes elegance through sophisticated lines and a meticulous finish and can accommodate eight guests.  Shares are available now for cruising in 2025.

Why choose YachtQuarters – Princess Yachts fractional yacht ownership?

Sharing a yacht allows you to enjoy owning a yacht whilst giving you the freedom to engage in other pursuits too.  If you love to charter, but would prefer the familiarity of your own yacht whilst still benefiting from the services of an attentive crew of two and concierge service, then this yacht shared ownership programme could be for you.  You can enjoy the comfort of having your own interior style on board and the convenience of a friendly crew, who already know exactly what you, your family and friends like so you can just enjoy your trip.  And all at a fraction of the cost of chartering.  Furthermore, YachtQuarters’ yacht shares are tax free.

The new fractional ownership yacht, the Princess Y72 will be based in beautiful Mallorca with her home berth either in the prestigious Puerto Portals or Club de Mar.  And when it’s time to drop the lines, you can enjoy the freedom of cruising on board your own yacht in the Balearics, along with a tender and choice of water toys to discover secluded bays for complete escapism.  Explore new adventures and create special memories with your loved ones on board your exceptional Princess Y72.

YachtQuarters shared yacht ownership program allows you to still own a yacht in the Mediterranean but without the hassle that long-distance yacht ownership can entail.  Full management is included from the service and maintenance of your yacht to bespoke passage planning and provisioning and even booking your favourite restaurants.  From the moment you step on board, you can sit back and relax as the experienced captain takes the helm to sought-after destinations plus a combined chef/steward/deckhand to ensure your life on board is easy with Princess Yachts fractional ownership.  And as a co-owner, you are owning a share in the asset that is the yacht itself; which means when the time does come to sell, you will receive an equal portion of the proceeds too.

Your home from home – the Princess Y72

Her elegant form and extensive glazing allow light to flood the open spaces throughout.  Flexible living is key with fixtures and fittings to suit.  Her sociable layout within the main saloon combines a bar area to the open plan galley with glass sliding doors and galley window that open to the convivial cockpit dining area, perfect for cosy sundowners.

Contemporary tones co-ordinated with light woods and panoramic windows create an enviable onboard space to while away those long summer days and spend quality time with family and friends.

Below deck, eight guests are comfortably accommodated across four ensuite cabins.  The full beam owner’s cabin takes pride of place with its private entrance via a spiral staircase from the saloon.  With ample storage space, a large ensuite bathroom plus a 49″ LED TV with Naim audio, the sophisticated owner’s cabin is furnished with a sofa, dressing area and vanity desk wrapped and stitched in Livorno Stone leather for a contemporary finish.  Further aft there is a crew cabin featuring two single berths and a private ensuite.

Externally, the Princess Y72 has a fantastic choice of outdoor spaces within the cockpit, bow seating and sunpads and expansive flybridge.  Generous seating arrangements and wetbar facilities enable you to make the most of al fresco dining and balmy evenings in the Mediterranean.  Enjoy water sports with ease with her large transom featuring a foldaway swim ladder and shower, along with a tender and water sports toys.

Expect speed and efficiency during your cruising, thanks to Princess Yachts’ signature design, ensuring comfort on the ocean.  Sit back, relax and enjoy your surroundings, as your experienced captain takes the helm.  A sophisticated experience and power to thrill.

‘ Our YachtQuarters shareholders have a dedicated Yacht Manager and access to our Concierge team. We take care of the calendar, the maintenance, the insurance, the berthing and the hiring of the crew. That means you get to walk on and off with zero hassle – and that makes the yachting experience all the more special.’

Joshua Cleaver, Princess YachtQuarters Manager

‘The YachtQuarters programme offered the perfect solution – a unique kind of yacht ownership that is less financially demanding than buying outright to see if I like the idea of owning a yacht.  The Princess brand gave me confidence that it would offer great service, and would make everything as easy as possible having the back-up of a concierge, team of experts and a yacht manager, and even crew.  It gave me great peace of mind and a really tailor-made walk-on, walk-off yacht ownership experience.’

James Swift, Princess 68 YachtQuarters Owner

New cruising destinations to discover

Princess Motor Yacht Sales’ YachtQuarters boats are primarily based in Mallorca for exploring the beautiful Balearics, but the new Princess Y72 will also enjoy cruising to St Topez in the second year and potentially Italy in the fourth year.

For further information about the new Princess Y72 and the Princess Yachts fractional ownership programme, YachtQuarters, visit: www.princess.co.uk/shared_yacht_ownership/princess-y72-shared-ownership/ or call Joshua Cleaver on: +44 (0)1489 557755.

*destinations correct at time of posting

Sign up to our newsletter

Sign up now to be the first to hear about our news and updates.

Our Sister Brands

Press Releases

KPS Capital Partners to Acquire Controlling Ownership of Princess Yachts

Investment will Accelerate Company’s Growth and Innovation

New York, NY  (February 13, 2023) -- KPS Capital Partners, LP (“KPS”) announced today that it has entered into a definitive agreement to acquire a controlling equity interest in Princess Yachts (Holdings) Limited, (“Princess Yachts” or the “Company”), a leading global manufacturer of luxury motor yachts.  Existing stockholders will retain ownership in the Company.  Completion of the transaction is expected in the first quarter of 2023 and is subject to customary closing conditions and approvals. 

Princess Yachts is a leading builder of luxury motor yachts and is recognized for its timeless design, hand-crafted quality and exceptional seakeeping.  Headquartered in Plymouth, England, the Company’s unparalleled level of vertical integration – including on-site design, engineering and manufacturing – has helped position Princess Yachts as one of Britain’s most iconic luxury brands.  Princess Yachts serves a global customer base through its best-in-class international dealer network.  The Company has approximately 3,200 employees and operates five manufacturing facilities in Plymouth, England.

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 worldwide 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 Officer Antony Sheriff, the senior leadership team and the talented employee base at Princess Yachts.”   

Antony Sheriff, Chief Executive Officer of Princess Yachts, 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 $1 billion 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.”

Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to KPS.  Macquarie Capital and Latham & Watkins LLP served as financial advisor and legal counsel, respectively, to Princess Yachts.

About Princess Yachts

Princess Yachts is a leading builder of luxury motor yachts and is recognized for its timeless, understated design, unique craftsmanship and exceptional seakeeping.  Headquartered in Plymouth, England, the Company’s unparalleled level of vertical integration – including on-site design, engineering and manufacturing – has helped position Princess Yachts as one of Britain’s most iconic luxury brands.  Princess Yachts serves a global customer base through its best-in-class international dealer network.  The Company has approximately 3,200 employees and operates five manufacturing facilities in Plymouth, England.  For additional information, please visit www.princessyachts.com .

About KPS Capital Partners

KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $21.6 billion of assets under management (as of March 31, 2024).  For over three decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing.  KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than primarily relying on financial leverage. The KPS Funds’ portfolio companies generate aggregate annual revenues of approximately $19.6 billion, operate 223 manufacturing facilities in 26 countries, and have approximately 47,000 employees, directly and through joint ventures worldwide (as of March 31, 2024). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.

← Back to Press Releases

One Vanderbilt Avenue, 52nd Floor New York, NY 10017 Tel.:  212.338.5100 | Fax: 646.307.7100

• Nachrichten
• Anleger-Login

• Share full article

Advertisement

Supported by

What to Know About the Business Execs With Mike Lynch on His Yacht

The two business figures, both associates of the tech mogul, went missing after the superyacht they were on sank off the coast of Sicily.

By Michael J. de la Merced

The corporate world reeled this week after a superyacht carrying the British software mogul Mike Lynch, his family and associates, and others sank on Monday during a violent storm off the coast of Sicily.

Of the 22 people on the yacht, 15 were rescued and seven bodies were recovered, including that of Mr. Lynch, an official in the Italian city of Palermo confirmed. The bodies of two other prominent business figures — Christopher J. Morvillo, a top white-collar defense lawyer, and Jonathan Bloomer, the chairman of Morgan Stanley International — were among those recovered.

Others who were missing but whose bodies have now been recovered are Hannah Lynch, Mr. Lynch’s 18-year-old daughter; Mr. Morvillo’s wife, Neda Morvillo; and Mr. Bloomer’s wife, Judy Bloomer. The body of the ship’s cook, Recaldo Thomas, was recovered on Monday.

Christopher Morvillo

Mr. Morvillo, 59, was a partner at Clifford Chance, the international law firm. He was a scion of a prominent family of New York litigators: His father, Robert , was a top federal prosecutor in New York turned star white-collar defense lawyer, whose clients included Martha Stewart. His brothers and uncle also practice law.

Mr. Morvillo followed in his father’s footsteps, first becoming a federal prosecutor in New York, whose cases included several tied to the Sept. 11, 2001, attacks and the successful conviction of Lynne Stewart, a lawyer known for representing terrorists.

In 2005, he went to work for his father’s firm, now known as Morvillo Abramowitz Grand Iason & Anello, where he worked alongside his brothers. Mr. Morvillo left in 2011 to join Clifford Chance as a partner. A year later, he began representing Mr. Lynch, who had been accused of deceiving Hewlett-Packard after it acquired his software company, Autonomy.

So started his long association with Mr. Lynch, as the accusations against the British executive led to a nearly 13-year legal battle on two continents. Mr. Lynch was charged with fraud by prosecutors in San Francisco, found liable in a lawsuit filed by HP in Britain and extradited to the United States last year, ahead of his criminal trial there.

“It’s covered one-third of my career,” Mr. Morvillo told the podcast “For the Defense” in an episode that aired this month, referring to the case. “It has been a constant presence in my life.”

Mr. Lynch was acquitted by a federal jury in June. In a LinkedIn post published shortly afterward, Mr. Morvillo celebrated the verdict, concluding the message with “And they all lived happily ever after ….”

Clifford Chance said in a statement on Thursday, “We are heartbroken at the tragic passing of our partner Christopher Morvillo and his wife, Neda.”

Jonathan Bloomer

Mr. Bloomer, 70, was a British financial services executive who, over the course of decades, became a fixture of the London insurance sector.

After starting at the now-defunct accounting firm Arthur Andersen, where he became a partner, Mr. Bloomer joined the insurer Prudential (no relation to the American insurance provider Prudential Financial) as chief financial officer. Mr. Bloomer became chief executive in 2000.

He stepped down five years later, after having drawn criticism from investors for cutting the insurer’s dividend, making a failed bid for a rival and raising money after saying such a move was unnecessary.

Mr. Bloomer took on other prominent business roles, including chairman of several British companies. He also joined the board of Autonomy, where he headed the audit committee. That role later led to his testifying this year at Mr. Lynch’s criminal trial, where he told the jury that the technology executive did not play a role in the company’s day-to-day operations.

In 2018, Mr. Bloomer became chairman of Morgan Stanley International, the Wall Street bank’s European arm, and last year was named chairman of Hiscox, a British insurer.

“We are deeply saddened by this tragic news,” Ted Pick, Morgan Stanley’s chief executive, said in a statement on Thursday. “Jonathan’s leadership and experience helped the firm manage a period of complex change for our international businesses.”

Michael J. de la Merced has covered global business and finance news for The Times since 2006. More about Michael J. de la Merced