NEwS
Acquisition Falmouth as the UK’s premier superyacht centre
Pendennis deal
of excellence.”
Devonport Yachts Ltd will continue as a separate
opens door to
business with Stephen Hills as managing director.
Hills said of the deal: “This is a great opportunity
60m+ market
to continue to develop the UK’s large superyacht
capability and realise the potential which exists
UK-based Pendennis Shipyard Ltd has announced in the south west of England. There are major
the acquisition of Devonport Yachts Ltd (owners synergies within the two businesses which will serve
of Devonport superyacht brand), which will be to continue and further strengthen the Devonport
established as a partner company to Pendennis. superyacht brand, offering a UK service for very
Joint managing director of Pendennis, Mike Carr, large bespoke new build and refit projects. Our
said of the acquisition: “This acquisition provides immediate priority is to finalise the new operating
the group with a powerful brand with which to arrangements for Devonport Yachts Ltd, after which
penetrate the 60m+ newbuild and refit markets we will be running a series of yard visits where we
and to continue to develop our position as a will explain in detail the many advantages of the new
leading international superyacht business. Over our Devonport yachts business based in Falmouth.”
20+ year history, we have established Pendennis This acquisition will be a boost to the local
as a leading brand for refit and new build of supery- economy, enabling Pendennis’ already healthy order
achts up to 60m whilst at the same time develop- book to be supplemented with the 60m+ sector.
ing jobs and facilities in Falmouth. Placing the Falmouth has seen an increase in visiting large yachts
Devonport brand and Devonport Yachts Ltd’s over the last few years and with its historic port and
other assets within the group will expand our portfo- beautiful coastline is well placed to develop a strong
lio and help accelerate plans to further develop superyacht centre for Northern Europe. SBI
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12 Ship & Boat International March/April 2010
SBI_MarApr10_p8-9-10-12.indd 12 26/02/2010 12:20:06
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