The UK’s Discovery Yachts Group, owner of the Discovery, Southerly and Bluewater yacht brands, has secured more than £2m in crowdfunding in less than two weeks – more than doubling its initial target of £750,000.
Discovery Yachts Group was formed in 2017 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 Southerly Yachts and relaunched the brand with great success. Since then, a new brand has been created called Bluewater catamarans.
“In April 2017, we took two great sailing boat builders back to the marketplace and got these beautifully designed yachts back on the water,” says Discovery CFO Keith Watson. “This new crowdfunding initiative has shown that investors large and small have confidence in what we have achieved and our plans for future development.
"We decided to significantly overfund our initial target of £750k to ensure we had financial resilience and fire power for the challenges ahead.”
Discovery MD Sean Langdon adds: “We have successfully turned around two businesses in less than a year and we are ready for another. We have a robust financial position and are actively looking for opportunities to grow the group of companies in our portfolio.”