Following IBI’s recent story that the Discovery Yacht Group (DYG) has a new Germany investor, the UK multi-brand yacht builder has now confirmed that the new investor holds a 30% stake in the group.

The new shareholder is Binti Holding GmbH, a Hainfeld-based German investment and asset management company formed last year with Werner Schnaebele as managing director. He is the owner of a Discovery 58 in build and in the recent crowdfunding round he acquired the equivalent of a 10% stake in DYG. He has since increased this by 20% taking over shares from Sean Langdon, CEO of DYG.

Following these share purchases Schnaebele, will join the DYG board as a non-executive director and but he will not be involved in the day-to-day running of the Group. Langdon explains that he has a Discovery 58 presently in build, which will be on show at this year’s Southampton Boat Show along with four other yachts from the group.

Langdon commented, “We are delighted to welcome the bigger involvement of Werner in our business and it’s a great endorsement for our plans going forward.” Sean Langdon, together with his management team, still retains over 35% of the Group.