Sunseeker London and Poole sold to manufacturer through pre-pack administration

Sunseeker London Limited and Sunseeker Poole Limited, the UK and European sales distribution network for Sunseeker yachts, have been sold to Sunseeker International through a pre-packaged administration sale. Robert Ferne and Jamie Taylor of BTG Begbies Traynor were appointed joint administrators to both companies on 7 September, according to notices filed with the London Gazette, and BTG announced the sale the following day.

The transaction was led for BTG by partners Jamie Taylor, Robert Ferne and Felix Connolly. It sees the recently launched Sunseeker Europe take over the acquired assets, a move BTG said strengthens the business's presence in key European markets and brings customers closer to the brand.

As part of the deal, Sunseeker is in the process of offering roles to up to 42 former Sunseeker London employees, retaining expertise and customer relationships as operations transition into the new Sunseeker Europe structure.

Sunseeker London was established more than 30 years ago as an independent organisation to sell and support Sunseeker yachts. Over the years, the business expanded into the Sunseeker London Group, becoming the largest official distributor of Sunseeker yachts, selling more than half of Sunseeker's annual production and servicing a significant proportion of the European market.

Robert Ferne, partner at BTG, said the luxury motor yacht industry has faced challenging trading conditions and economic uncertainty in recent years, with reduced sales volumes across a number of high-end yachting segments. He said the downturn in the marine sector has been well documented and felt across the industry, but that "where there are strong underlying businesses there are good opportunities to create value."

Ferne said BTG, Sunseeker London, Sunseeker Poole and Sunseeker International worked collaboratively to identify a solution that would allow the businesses to continue operating through the pre-packaged transaction, while offering roles to the 42 former employees and maximising value for creditors. He added that BTG looks forward to seeing the business establish itself with a stronger footing in the coming months and years.