The Discovery Yachts Group, owner of UK boatbuilders Discovery and Southerly Yachts, today announced that it has raised additional investment capital from Nick Gill, founder and former CEO of Gill Marine, and Michael Putziger, chairman of the Winn Group of Companies in the US.
The additional funds will be used to strengthen the financial structure of the group and potentially allow the acquisition of further brands in the future. Further investors are expected to be announced in the autumn, says the company.
Discovery Yachts Group was formed earlier this year to complete the acquisition of Discovery Yachts through a management-led buyout headed by managing director Sean Langdon following the retirement of the company’s founder and chairman, John Charnley.
After the acquisition of Discovery, the group purchased the Southerly Yachts business and assets and has relaunched the brand with great success, as three yachts have already been sold.
Discovery Yachts now has plans to expand the current range, starting with the launch of a new 15m (48ft) cruising yacht at the Düsseldorf Boat Show in January 2018 as well as adding another brand into the line-up for Discovery Yachts Group.
“We are delighted that Nick Gill and Michael Putziger have decided to invest in Discovery Yachts Group,” says Sean Langdon, CEO, in a statement. “This is great endorsement of our plans for the long-term growth of the group and both Nick and Michael will bring extensive commercial knowledge and wisdom. We may look for one or two further investors in the autumn to further accelerate our growth.”
Nick Gill adds: “I am delighted to be a part of the Discovery Yachts Group and look forward to working with the board to build a powerhouse of British boatbuilding.”