Discovery Yachts Group has a significant new German shareholder, according to records submitted with Companies House, the UK company registration centre. The new shareholder is Binti Holding GmbH, headquartered in Hainfeld and registered with the commercial register at Landau district court under the number HRB 32205 .
As of May 31, 2018, Binti Holding secured a share, either directly or indirectly, of more than 25% but less than 50%. The same values relate to Binti’s voting rights in the group.
On the same date, Sean Langdon, managing director of the Discovery Yachts Group, ceased to be a person with significant control.
Binti is described as an asset management and investment company registered in November last year and having a share capital of €26,000. Werner Schnäbele, managing director of Binti, was appointed a director of Discovery on June 1, 2018.
The full significance of this new shareholder is not fully apparent yet, as Langdon declined to comment to IBI about the change. It is understood that meetings are underway to work out the full relationship between Binti and Discovery.
Discovery has pursued an active corporate path over the past year or so with a management buy-out, the launch of new brands, and a crowdfunding round which raised far more than originally anticipated.
At the recent London On-Water event, Discovery officially launched its new Britannia brand to add to the Discovery Yachts, Southerly Yachts and Bluewater Yachts brands.
At the show, Langdon indicated to IBI that it was looking to further expand with the purchase of a motoryacht brand and it is also looking for new sites to build yachts as it expands its activities.
The crowdfunding round set out to raise £750,000 but ended up raising £2.25m. As a result of this, the group gained an extra 408 shareholders.