Sunseeker will receive a fresh capital investment into the Sunseeker Group from its lenders Cheyne Capital and Cross Ocean Partners (together, the “Lenders”), providing the platform for its long-term future success.
As part of this new funding agreement, a number of director changes have been made to certain of the Sunseeker entities. In parallel, Matt Mawhinney and David Soden of Teneo Financial Advisory Limited have been appointed as receivers over the shares in Sunseeker Investments Limited, an indirect parent company of Sunseeker. This process relates solely to that parent company and has no effect on Sunseeker’s day-to-day operations.
The Lenders have a combined assets under management in excess of $20bn and this additional funding demonstrates their continued confidence in and support for the business, which continues to trade as normal.
There is no impact on Sunseeker’s employees, customers, distributors or suppliers. Sunseeker remains focused on its existing strategy to fulfil its global order book and invest in new product development including the Superyacht strategy.
Andrea Frabetti, CEO of Sunseeker, said:“This new financing will help to strengthen our financial position and support our ongoing operations. Our focus remains on our existing strategy to ensure the future growth of the business and on continuing to deliver world-class yachts to our customers.”
