Allianz and Afloat - Supporting Irish Boating

Ireland's sailing, boating & maritime magazine

Irish Group Acquire Sunseeker

2nd June 2010
Irish Group Acquire Sunseeker

A group of Irish investors has taken a majority stake in luxury boatbuilder Sunseeker. FL Capital Partners, based in Blackrock, Co Dublin, has partnered with Australian bank Macquaried and Haymarket financial to pay €29.9million for the controlling interest in Sunseeker, in a move dubbed by the Wall Stree Journal as a 'rare vote of confidence for a business in a sector that has been badly hit by the financial crisis'.

The consortium is no stranger to taking a gamble - it also owns the Racing Post newspaper.

The move comes despite Sunseeker slipping into the red last year. The luxury motorboat company made a pre-tax loss of £9.1m in the year up to July 2009, compared with a pre-tax profit of £17.8m in the previous year. The Poole-based company was hit with an unexpected £6.8m bill to bailout one of its distributors after they faced financial difficulties last year in addition to a £1.9 trading loss.
Despite the increasingly difficult economic climate, Sunseeker has continued to invest in new boats, with £6m spent on new moulds and the development of a deep-water dock at Portland in Dorset.

The Irish Times reports on the story here, while the Irish Independent describes the company as boatbuilders to James Bond here.

Published in Marine Trade Team

About The Author Team

Email The Author is Ireland's dedicated marine journalism team.

Have you got a story for our reporters? Email us here.

We've got a favour to ask

More people are reading than ever thanks to the power of the internet but we're in stormy seas because advertising revenues across the media are falling fast. Unlike many news sites, we haven’t put up a paywall because we want to keep our marine journalism open. is Ireland's only full–time marine journalism team and it takes time, money and hard work to produce our content.

So you can see why we need to ask for your help.

If everyone chipped in, we can enhance our coverage and our future would be more secure. You can help us through a small donation. Thank you.

Direct Donation to Afloat button

Featured Sailing School

INSS sidebutton

Featured Clubs

dbsc mainbutton
Howth Yacht Club
Kinsale Yacht Club
National Yacht Club
Royal Cork Yacht Club
Royal Irish Yacht club
Royal Saint George Yacht Club

Featured Brokers

leinster sidebutton

Featured Associations

isora sidebutton

Featured Webcams

Featured Events 2021

vdlr21 sidebutton

Featured Sailmakers

northsails sidebutton
uksails sidebutton
quantum sidebutton
watson sidebutton

Featured Chandleries

CHMarine Afloat logo
osm sidebutton

Featured Marinas

dlmarina sidebutton

Featured Blogs

W M Nixon - Sailing on Saturday
podcast sidebutton
mansfield sidebutton
BSB sidebutton
wavelengths sidebutton

Please show your support for Afloat by donating