Italy's Faro acquires British shipyard Sunseeker
The fund headed by Giancarlo Galeone, through the real economy division, takes over 100% of the company and succeeds the Chinese Dalian Wanda
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A tricolor fund takes over the British shipyard Sunseeker (formerly led by Italian Andrea Frabetti), succeeding the Chinese ownership. The top management of the real economy division of Faro alternative investments announced at the boat show in Fort Lauderdale (Miami) that it had completed, with the support of the advisory company Orienta capital partners, the acquisition of 100% of Sunseeker International, the historic British shipyard specialising in the construction of luxury motor yachts. The company was previously controlled by the Chinese industrial group Dalian Wanda group.
The British shipyard becomes tricolour
.Based in Poole, on the Dorset coast of southern England, Sunseeker has been dedicated to building yachts for over 50 years. In fiscal year 2023, the yard generated around £320 million in aggregate sales, mainly from yachts in the 15-50 metre range. The current order book is worth around £540m (approximately €640m).
Faro Alternative Investments carried out the transaction in cooperation with Lionheart capital, a Miami-based investment company, and a club deal organised by Orienta.
"Our consolidated experience in the nautical sector, combined with our long-standing relationship with the CEO of Sunseeker," explains Giancarlo Galeone, president of Faro value and lead advisor of Faro alternative investments, "will allow us to further enhance the identity and craftsmanship of the shipyard. Sunseeker will maintain its British identity, continuing to be based in Poole, where the primary production, workforce, and current operational infrastructure is located".
Orienta capital partners coordinated the operation
.The operation, adds Galeone, "falls within the real economy sector and, not by chance, has as advisory company Orienta capital partners, which specialises in investments in SMEs with high growth potential. The latter coordinated the operation with its own investments and those of other players, enabling the realisation of a project of international scope, in which the Italian team played a decisive role. The most important strength is our consolidated experience in the nautical sector. A considerable part of Orienta's top managers have grown up in important nautical companies'.
