Expecting the deal to be closed in the first quarter of 2023, the new agreement will retain other noted shareholders while allowing for further investment.
Specializing in the ownership of manufacturing businesses, KPS Capital Partners has shown great interest in the brand after a successful bid by Plymouth City Council to create a Freeport.
Home to Princess Yachts, Plymouth will soon feature an exclusive Freeport zone that has similarities to other international offshore zones such as Yacht Haven Grande Miami, with multiple benefits for both yacht owners and the local economy.
The team are deeply committed to investing in the future, while continuing to further strengthen our portfolio of motor yachts.
CEO
Princess Yachts
Ryan Harrison, a Partner of KPS Mid-Cap Investments, commented; “We are excited to make this significant investment in Princess Yachts, a leading company in the luxury global yachting industry with an iconic brand grounded in British tradition, a remarkable and growing product range, and world-wide reputation for quality and innovation."
The deal between the two firms is still subject to cementing specific terms and obligations, however, once completed the new partnership is expected to help Princess pursue its plans to expand as it stated in 2022.
With YachtBuyer Intelligence showing that 59 Princess yachts are currently under construction, the shipyard currently has launches scheduled all the way through to 2025 and shows no signs of slowing down.
To find out more about the benefits of a Freeport, read our guide on US Foreign Trade Zones to get an idea on how they work and what benefits could be in store with the new Plymouth zone.
Alternatively, if you want to buy a yacht sooner, take a closer look at all the available Princess yachts for sale, or pick up more ideas by viewing all yachts for sale.
