KPS Capital Partners, a private equity firm and manager of the KPS Special Situations Funds, has acquired a controlling interest in Princess Yachts (Holdings) Ltd., a global manufacturer of motor yachts.
Princess Yachts is a builder of motor yachts focused on design, quality and seakeeping. Headquartered in Plymouth, England, the company serves a global customer base through its international dealer network. Princess Yachts has approximately 3,200 employees and operates five manufacturing facilities in Plymouth. Existing stockholders will retain ownership in the company.
KPS and the Princess Yachts team are deeply committed to investing in the Company’s future while continuing to further strengthen our portfolio of best-in-class motor yachts,” comments Antony Sheriff, chief executive officer of Princess Yachts. “Under KPS’ ownership, we will accelerate a range of growth and operational initiatives to build upon our long and successful history.”
Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to KPS. Macquarie Capital and Latham & Watkins LLP served as financial advisor and legal counsel, respectively, to Princess Yachts.