princess yachts l catterton

By SuperyachtNews 14 Feb 2023

Princess Yachts sold to US investor

Britain’s largest luxury yacht builder has been bought by a us-based private equity firm  ….

Plymouth-based Princess Yachts , the UK's largest luxury boatbuilder, has been sold to KPS Capital Partners, a US-based private equity firm. L Catterton, the previous private equity owner, put Princess up for sale in 2022 and reportedly hired bankers at Macquarie to find a buyer. In February 2023, Princess confirmed that KPS had entered into a definitive agreement to acquire a controlling equity interest in the business.

KPS is a New York-based private equity giant with approximately $14.4 billion of capital under management, as of September 2022. It makes controlling equity investments in manufacturing companies in North America and Europe. In 2019, KPS acquired the fitness equipment business of Brunswick Corporation, including the Life Fitness brand, for $490 million in cash.

Existing shareholders will retain ownership in Princess, with the transaction expected to be completed in the first quarter of 2023. Princess had previously announced expansion plans in the South West region of the UK, as part of the successful bid by Plymouth city council to create a freeport. The company believes that the new investment from KPS will help support these plans and reinforce the unique national and international marine capabilities that reside in Plymouth and the wider region.

The Princess business was founded in 1965 and distributes through a 50-strong global network. It had been backed by L Catterton and its predecessor entity since 2008. KPS's investment in Princess will accelerate the company's growth trajectory and fund numerous investments for its future. Ryan Harrison, a partner of KPS Mid-Cap Investments, says, "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 the British tradition, a remarkable and growing product range, and world-wide reputation for quality and innovation."

Antony Sheriff, Princess Yachts' chief executive, adds, "We are thrilled to partner with KPS for this exciting new chapter for Princess Yachts. 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. With a current order book nearing a record $1 billion and many model lines sold into 2025, we have never been in a stronger commercial position."

The partnership with KPS gives Princess Yachts access to KPS's manufacturing expertise and its experience investing in leading brands. This is expected to help Princess accelerate a range of growth and operational initiatives to build upon its long and successful history. KPS's investment in Princess Yachts is a testament to the company's strength, quality, and innovation in the luxury yacht industry. It also reflects the growing confidence in the superyacht market, as seen by the increasing number of investments in this sector.

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L Catterton’s Princess Yachts likely to be sold to US private equity giant

Feb 13, 2023 | News | 0 comments

Speculation is mounting that Plymouth-based luxury boat-builder Princess Yachts is about to be sold to a US private equity business. The company has told PlymouthLive that it is unable to comment at this point but it is understood a deal could be struck this week.

In May 2022, PlymouthLive reported that Princess Yachts’ private equity owner L Catterton had hired bankers to find a buyer. Now it seems US private equity investor KPS Capital Partners is in the frame to acquire the UK’s largest luxury boat maker.

For more than 30 years, KPS has been acquiring manufacturing businesses in sectors producing such as branded consumer goods, healthcare and luxury products, automotive parts, capital equipment and in general manufacturing. The New York-headquartered business has about UD$14.1bn of assets under management.

KPS’ portfolio of companies generates total annual revenues of about US$22bn, operates 232 manufacturing facilities in 27 countries and combined have about 53,000 employees. KPS said it creates value “almost exclusively through operational and performance improvement”. It bought Tiger Woods-backed TaylorMade Golf from Adidas in 2017 for US$425m and sold it four years later to South Korean private equity firm Centroid Investment Partners for US$1.7bn.

In 2008 Princess Yachts was acquired by L Capital 2 FCPR, an investment group co-sponsored by LVMH (Moët Hennessy Louis Vuitton) and Groupe Arnault. In January 2016, L Capital merged with Catterton to become L Catterton, now recognised as the largest global consumer-focused investment firm.

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Last year, there was intense speculation that L Catterton had hired bankers at Macquarie to find a buyer for the Plymouth manufacturer. At the time, Princess Yachts told PlymouthLive it was looking to start discussions with potential investors. It said this was to provide financial support needed to build a huge new factory at its Devonport operation. In late 2021, PlymouthLive revealed Princess Yachts wants to build another factory in Plymouth’s freeport area in the South Yard so it can produce more vessels, employ more people and fulfil a US$1bn order book. The company was also undergoing a sales boost, now selling more than 300 boats annually.

Princess Yachts has just returned from Europe’s largest boat show Boot Düsseldorf, in Germany, It used the show to debut its new S72 vessel and also showed off seven vessels at the eight-day show, including the X80, F65, Y85, V40, F45 and S62.

In 2022 Princess Yachts said it was embarking on a three-year plan to launch lots of new models as its order book remained packed and its factory unable to take on any new work until 2024. The Stonehouse-headquartered company said it will be further investing in new products and has “bold plans” to increase capacity, having already announced it wants to build a new plant at Devonport.

In December, the company entertained potential customers in Plymouth when they showed off the new £12m Y95. Potential customers flew in from the USA, Middle East, Asia and across Europe to tour the vessel while it was moored at the Royal William Yard’s marina.

At 95 feet in length the boat is just short of superyacht status. The first Y95, known in the industry as “slot 1”, was moored at the marina prior to being collected by its new owner and transported to Asia on a cargo ship. Princess Yachts took the opportunity to show it off to invited guests – and received orders for more Y95s.

S ource: Plymouth Live

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Princess Yachts: Bernard Arnault and his co-shareholders ready to open the capital

Faced with rumors of being put up for sale, L Catterton, owner of the British shipyard Princess Yachts, has clarified his position, against the backdrop of the industrial development of the high-end yacht brand.

No immediate sale of Princess Yachts

Princess Yachts shipyard is not currently for sale. Following rumors published by SkyNews on May 27, 2022, that the Plymouth, UK-based builder of high-end powerboats was up for sale, the company has officially denied that a deal exists. In a statement, the company highlights recent investments in its X95, Y72 and X80 speedboat models and ongoing commercial successes, with more than 300 boats sold per year and an order backlog through 2024 that is close to $1 billion.

Financing the acceleration of boat production

For all that, L Catterton, owner of Princess Yachts concedes its openness to the arrival of other investors. The investment fund was born of the merger in 2016 of the Catterton fund and L Capital, supported by LVMH and the Arnault group, the French billionaire, who arrived in 2012 at the helm of the British manufacturer. Faced with strong demand for boats and as part of a project to develop the city of Plymouth of a free zone, the industrialist has presented a potential expansion of its production capacity, doubling the number of boats that can be produced by its factory. As part of this, "the company and its shareholders are now considering initiating discussions with potential investors to provide financial support for these exciting growth plans," the Princess Yachts statement said.

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Plymouth Based Princess Yachts Sold To US-Based Private Equity Firm

Plymouth-based Princess Yachts, Britain’s largest luxury boatbuilder, has been sold to a US-based private equity firm.

In 2022, L Catterton, a private equity group, put Princess up for sale, reportedly hiring Macquarie bankers to find a buyer.

A statement issued by Princess on Tuesday 14th February 2023 confirms that KPS Capital Partners has entered into a definitive agreement to acquire a controlling share of the company.

Private equity firm KPS is based in New York and invests in manufacturing companies across North America and Europe. At the end of September 2022, the firm had approximately $14.4 billion in capital under management.

KPS acquired the fitness equipment business of Brunswick Corporation, including the Life Fitness brand, in 2019 for $490 million.

Read More: D-Marin And Marinas Del Mediterráneo Announce Partnership In Spain

Princess’ existing shareholders will retain ownership of the company, and the transaction is expected to close in the first quarter of 2023.

As a part of Plymouth city council’s successful bid to create a freeport in the region, the company announced expansion plans last year. The new investment from KPS will support Princess’ plans and reinforce Plymouth’s unique national and international marine capabilities.

Princess was founded in 1965 and distributes its products through a network of 50 distributors worldwide. The company has been backed by L Catterton and its predecessor since 2008.

Ryan Harrison, a partner of KPS Mid-Cap Investments, says:

“We are excited to make this significant investment in Princes 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. “KPS’ investment will accelerate Princess’ growth trajectory and fund numerous investments for its future. We look forward to working with Princess’ existing stockholders, chief executive officer, Antony Sheriff, the senior leadership team, and the talented employee base at Princess Yachts.”

Antony Sheriff,  Princess Yachts ‘ chief executive, adds:

“We are thrilled to partner with KPS for this exciting new chapter for Princess Yachts. 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. With a current order book nearing a record $1 billion and many model lines sold into 2025, we have never been in a stronger commercial position.” “Together with KPS’ tremendous track record of manufacturing excellence and investing in leading brands, we are now positioned to take Princess Yachts to the next level of industry leadership in quality and innovation. Under KPS’ ownership, we will accelerate a range of growth and operational initiatives to build upon our long and successful history.”

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Princess Yachts - Sold to private US equity firm

Princess 95′ PPI Pre-delivery Inspection undertaken by EMS

Plymouth-based Princess Yachts, Britain’s largest luxury boatbuilder, has been sold to a US-based private equity firm.

Princess  was put up for sale in 2022 by private equity group L Catterton, who reportedly hired bankers at Macquarie to find a buyer.

In a statement issued this morning (14 February 2023), Princess confirms that KPS Capital Partners has entered into a definitive agreement to acquire a controlling equity interest in the business.

KPS  is a New York-based private equity giant that makes controlling equity investments in manufacturing companies, in North America and Europe. The firm has approximately $14.4 billion of capital under management, as of September 2022.

In 2019, KPS acquired the fitness equipment business of  Brunswick Corporation , including the Life Fitness brand, for $490 million in cash.

Existing shareholders will retain ownership in Princess, with the transaction expected to be completed in the first quarter of 2023.

The moves come after the company announced expansion plans last year as part of the successful bid by Plymouth city council to  create a freeport in the region . Princess says this new investment from KPS will ‘help support these plans and reinforce the unique national and international marine capabilities that reside in Plymouth and the wider South West region’.

The Princess business was founded in 1965, and distributes through a 50-strong global network. It had been backed by L Catterton and its predecessor entity since 2008.

Ryan Harrison, a partner of KPS Mid-Cap Investments, says: “We are excited to make this significant investment in Princes 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.

“KPS’ investment will accelerate Princess’ growth trajectory and fund numerous investments for its future. We look forward to working with Princess’ existing stockholders, chief executive officer, Antony Sheriff, the senior leadership team, and the talented employee base at Princess Yachts.”

Antony Sheriff,  Princess Yachts ‘ chief executive, adds: “We are thrilled to partner with KPS for this exciting new chapter for Princess Yachts. 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. With a current order book nearing a record $1 billion and many model lines sold into 2025, we have never been in a stronger commercial position.

“Together with KPS’ tremendous track record of manufacturing excellence and investing in leading brands, we are now positioned to take Princess Yachts to the next level of industry leadership in quality and innovation. Under KPS’ ownership, we will accelerate a range of growth and operational initiatives to build upon our long and successful history.”

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Princess Yachts sold to US investor

Tuesday, February 14th, 2023

Written by: Marine Industry News

Plymouth-based Princess Yachts, Britain’s largest luxury boatbuilder, has been sold to a US-based private equity firm.

Princess was put up for sale in 2022 by private equity group L Catterton, who reportedly hired bankers at Macquarie to find a buyer.

In a statement issued this morning (14 February 2023), Princess confirms that KPS Capital Partners has entered into a definitive agreement to acquire a controlling equity interest in the business.

KPS is a New York-based private equity giant that makes controlling equity investments in manufacturing companies, in North America and Europe. The firm has approximately $14.4 billion of capital under management, as of September 2022.

In 2019, KPS acquired the fitness equipment business of Brunswick Corporation , including the Life Fitness brand, for $490 million in cash.

Existing shareholders will retain ownership in Princess, with the transaction expected to be completed in the first quarter of 2023.

The moves come after the company announced expansion plans last year as part of the successful bid by Plymouth city council to create a freeport in the region . Princess says this new investment from KPS will ‘help support these plans and reinforce the unique national and international marine capabilities that reside in Plymouth and the wider South West region’.

The Princess business was founded in 1965, and distributes through a 50-strong global network. It had been backed by L Catterton and its predecessor entity since 2008.

Ryan Harrison, a partner of KPS Mid-Cap Investments, says: “We are excited to make this significant investment in Princes 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.

“KPS’ investment will accelerate Princess’ growth trajectory and fund numerous investments for its future. We look forward to working with Princess’ existing stockholders, chief executive officer, Antony Sheriff, the senior leadership team, and the talented employee base at Princess Yachts.”

Antony Sheriff, Princess Yachts ‘ chief executive, adds: “We are thrilled to partner with KPS for this exciting new chapter for Princess Yachts. 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. With a current order book nearing a record $1 billion and many model lines sold into 2025, we have never been in a stronger commercial position.

“Together with KPS’ tremendous track record of manufacturing excellence and investing in leading brands, we are now positioned to take Princess Yachts to the next level of industry leadership in quality and innovation. Under KPS’ ownership, we will accelerate a range of growth and operational initiatives to build upon our long and successful history.”

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Princess Yachts to be sold to KPS Capital Partners - report

Princess Yachts , Britain’s biggest luxury yacht builder, is reportedly being sold to new private equity backers 15 years after it last changed hands.

According to Sky News , the Plymouth-based company is being sold to KPS Capital Partners, a US-based investor which specialises in owning manufacturing businesses.

Sources told Sky said a deal could be struck as soon as this week.

Among KPS's previous investments was TaylorMade , the global golf equipment maker.

Princess was put up for sale last year even as a string of the world's most valuable private vessels were being seized by governments clamping down on their sanctioned Russian owners.

Consumer goods-focused private equity firm L Catterton has owned Princess since 2008.

The yacht-builder was founded in 1965, and distributes through a 50-strong global network.

It is said to have a robust order book and roughly £300m in annual revenue.

• Feb 14, 2023

Princess Yachts Purchased by U.S. Investor

Britain's largest yacht manufacturer has been purchased by a U.S. private equity firm.

Princess Yachts , who have been a figurehead in Plymouth, England since their launch in 1965, was made available for purchase by private equity group L Catterton in 2022, who purchased the brand in 2008, and have now been acquired by U.S. based KPS Capital Partners .

The deal will provide KPS with a controlling interest in the company once the agreement is finalized in the first quarter of 2023. Terms of the deal were not disclosed.

In a press release , Ryan Harrison, a Partner of KPS Mid-Cap Investments, said, "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 worldwide reputation for quality and innovation. KPS' investment will accelerate Princess' growth trajectory and fund numerous investments for its future."

"We look forward to working with Princess' existing stockholders, Chief Executive Officer Antony Sheriff, the senior leadership team and the talented employee base at Princess Yachts," he added.

Antony Sheriff, Chief Executive Officer of Princess Yachts, also stated, "We are thrilled to partner with KPS for this exciting new chapter for Princess Yachts. 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. With a current order book nearing a record $1 billion and many model lines sold into 2025, we have never been in a stronger commercial position."

"Together with KPS' tremendous track record of manufacturing excellence and investing in leading brands, we are now positioned to take Princess Yachts to the next level of industry leadership in quality and innovation. Under KPS' ownership, we will accelerate a range of growth and operational initiatives to build upon our long and successful history."

KPS is based in New York and has an extensive portfolio in manufacturing assets across North America and Europe. The firm currently holds approximately $14.4 billion of capital under their management.

This is not KPS' first foray into marine acquisitions, although their first purchase was only tangential. In 2019, KPS purchased the fitness equipment business owned by Brunswick Corporation , who are the marine industry's largest conglomerate and own such brands as Mercury Marine and Sea Ray, for $490 million. KPS also holds stakes in Briggs & Stratton , the world's largest producer of gasoline engines for outdoor equipment, and Autokiniton Global Group , a major automotive parts supplier.

Princess Yachts, meanwhile, is currently holding a flush order book of over $1.1 billion and recently unveiled a new flagship model - the Princess Y95 . The company experienced record sales over the last two years, taking over 300 orders in 2021 alone and requiring the company to expand manufacturing capability at their shipyard. They currently employ over 3200 people across five different manufacturing facilities around Plymouth, England.

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Yacht-builder Princess taps Arnault-backed firm for funds

A buyout firm backed by France’s richest man is to plough more money into the Plymouth-based yacht-builder, Sky News learns.

City editor @MarkKleinmanSky

Thursday 9 January 2020 16:38, UK

Britain's biggest luxury yacht-builder is in talks with its lenders and shareholders about a multi-million pound cash injection to help it meet growing demand.

Sky News has learnt that Princess Yachts, which is based in Plymouth and ranks among the country's largest privately owned manufacturers, wants to finalise the terms of a capital-raising by the end of the month.

The company, which employs about 3,000 people, is working with advisers at Alvarez & Marsal on talks about new financing arrangements.

Its lending syndicate is being advised by FTI Consulting, according to people close to the process.

The size and form of a capital-raising were unclear on Thursday, although Princess's banks are understood to have retained advisers because the capital-raising will affect its existing banking agreements.

Princess is majority-owned by L Catterton, one of the world's most prolific private equity backers of consumer-facing businesses.

L Catterton was formed in 2016 from a partnership involving LVMH - the luxury goods manufacturer which is in the process of acquiring Tiffany - and Bernard Arnault, the tycoon who heads the French conglomerate and ranks among the world's wealthiest people.

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The private equity group and its predecessor entity have owned Princess for more than a decade, during which the yacht-builder's fortunes have fluctuated.

Princess says it has enjoyed profitable growth in recent years, buoyed by growing international demand and a string of successful model launches.

The new X95 super-yacht will have a retail price of £6.5m when it comes onto the market, underlining Princess's confidence in the boat's prospects.

Rivals including Sunseeker, which is now Chinese-owned, have also expressed optimism about the commercial outlook for the sector.

In a statement, Antony Sheriff, the yacht-maker's executive chairman, said: "Driven by the launch of nine new products in 2019, Princess has enjoyed strong retail sales over the last year which has driven an order book of £600m, with almost all of our increased production covered by orders through to mid-2021.

"We are excited that our shareholders continue to invest in our growth and are excited to enter this new decade with continued launches of innovative new products such as the X95 Super Flybridge which launches in the water later this month."

Princess declined to disclose further details of its lending relationships, but is expected to announce the refinancing once it is completed.

Speculation mounts that Princess Yachts' owner wants to sell company

Plymouth boat-builder declines to comment on conjecture but said it is looking to start talks with investors so it can build a huge factory

• 19:13, 27 MAY 2022

Speculation is mounting that Plymouth-based luxury boat-builder Princess Yachts is about to be put on sale. Sky News has reported that the firm’s private equity owner L Catterton has hired bankers to find a buyer.

Princess Yachts, which employs about 3,000 people in the city, has not commented on the speculation but did tell PlymouthLive it is looking to start discussions with potential investors. It said this is to provide financial support needed to build a huge new factory at its Devonport operation.

In late 2021, PlymouthLive revealed Princess Yachts wants to build another factory in Plymouth’s freeport area in the South Yard so it can produce more vessels, employ more people and fulfil a US$1bn order book . The company is also undergoing a sales boost, now selling more than 300 boats annually.

READ NEXT: Future of Plymouth's House of Fraser in doubt as building put on sale for £4m

This success has fuelled speculation the company could be put on sale with its private equity owners eager to cash in. Sky News claims L Catterton has hired bankers at Macquarie to find a buyer.

A formal process is yet to start but is expected in the coming months, City sources are said to have revealed. Princess's valuation is not known, although an “insider'' told Sky News it would be unlikely to represent one of L Catterton's most lucrative exits.

A Princess Yachts spokesperson said the company had intensively invested to renew and grow its product range, launching innovative models such as the X95, Y72 and X80. The spokesperson said: “The result has been a rapid growth in the sales success of the company in recent years.

"Princess is now firmly Britain’s largest luxury boat builder, and the demand for Princess models has never been stronger with retail sales exceeding 300 boats a year and a near US$1bn forward order book stretching well into 2024. We are at full capacity and our primary focus is to expand our facilities and employment to respond to this unprecedented level of demand. “

The company said that as part of Plymouth City Council’s submission to the Government to create a tax-break freeport centred partly around South Yard, Princess Yachts had “developed a proposal to double the capacity of its South Yard facility to increase the product offering and further strengthen its market position”. The spokesperson said: “This in turn will create additional jobs and secure a bright future for boat building in Devon and the UK. The company and its shareholders are now considering beginning discussions with potential investors to provide financial support for these exciting plans for growth.”

READ NEXT: Nominations open for Plymouth Live Business Awards 2022

The company also stressed that it is fully complying with all sanctions regulations and is not supplying yachts to Russia or to any persons connected with Russia. This comes after a number of luxury yachts, built by other firms, have been seized by authorities in other countries as they seek to prevent sanctioned Russians from retaining assets.

Princess Yachts was started in a small industrial unit in Newport Street, Stonehouse, in 1965. It has gone on to become a major player in the luxury yacht industry and is Britain’s largest manufacturer. It distributes through a 50-strong global network.

In 2008 Princess Yachts was acquired by L Capital 2 FCPR, an investment group co-sponsored by LVMH (Moët Hennessy Louis Vuitton) and Groupe Arnault. In January 2016, L Capital merged with Catterton to become L Catterton, now recognised as the largest global consumer-focused investment firm. Sky News said that spokespeople for L Catterton and Macquarie both declined to comment on speculation about the possible sale of Princess Yachts.

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M&A Deal Summary

L catterton partners and cobepa sa acquire princess yachts, on june 3, 2008, growth capital firm l catterton partners and private equity firm cobepa sa acquired marine company princess yachts, acquisition highlights.

• This is L Catterton Partners’ 1st and Cobepa SA’s 1st transaction in the Marine sector.
• This is L Catterton Partners’ 1st and Cobepa SA’s 2nd transaction in the United Kingdom.

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• Princess Yachts was sold to a consortium of financial buyers in 2023.

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L Catterton Partners

DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.

PREVIOUS DEAL

Following deal.

Cobepa S.A. is a global investment group focused on growth capital investments (acquiring significant minority stakes) and leveraged buyout transactions. Cobepa invests in established companies with business models, sustainable market positions, and strong management teams. Sectors of interest include transportation, industrial, retail, financial services, and business services. The Firm generally pursues opportunities throughout Europe and North America, however Cobepa also targets opportunities in Asia and South America. Cobepa was originally established in 1957 and is headquartered in Brussels, Belgium

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Investment company

• Investments

Princess Yachts

Princess Yachts is one of the leading motor yacht builders in Europe and one of the largest boat builders in the UK.

• Sector Industrial
• Ownership Minority
• Turnover GBP 308 M (2021)
• Date of acquisition 07/2008

Dedicated team

Felix Hauser

Managing Director DACH region

Tobias Wurm

Senior Associate

Contact information

Princess Yachts International PLC

Newport Street PL1 3QG Plymouth, Devon United Kingdom

Princess Yachts International is one of the leading motor yacht builders in Europe and one of the largest boat builders in the UK, focussed on the mid to large-size yacht market. Founded in 1965, the company today operates as a fully integrated producer across four manufacturing facilities in the Plymouth area and has become one of the most respected names in the marine industry. Sold throughout the world, Princess’ motor yachts have established a strong reputation based on class leading performance and exceptional quality standards.

Brand of distinction

Ever since the launch of Princess’ first 31-footer in 1965, the company has been continuously present in luxury marine cruising with their legendary Flybridge range, thrilling V-Class sports yachts, long-range motor yachts and their latest astonishing M-Class superyachts. The strength of the Princess brand rests on pillars such as quality, strength and integrity of design and build which result in its timeless elegance, impeccable and luxurious interiors and immaculate finish. As a brand of distinction around the world, Princess Yachts became part of the Moët Hennessy Louis Vuitton (LVMH) family in May 2008.

New range M Class yachts

In 2011, a new range of technically advanced, long range, cruising yachts stamped the Princess mark firmly on the market for craft over 100 feet.

Gracious design beliefs

Deep V hulls, clean flowing lines and fine proportions provide Princess Yachts with their required grace, pleasure to drive and ease-of-living aboard. At the helm, accurate and responsive wheel and throttle controls are mounted within comfortable reach in combination with clear and logical instrumentation for comfortable high-speed cruising. Above and below deck, the interiors are designed and manufactured with the finest natural materials such as Princess’ bespoke hand-crafted timber furniture.

Consortium of investors

In May 2008, Cobepa acquired 22% of the Princess Yachts International share capital. Cobepa invested alongside a consortium of investors which included amongst others L Catterton, LVMH and Groupe Arnault.

Related news

14.02.2023 / Portfolio news

KPS Capital Partners to acquire controlling ownership of Princess Yachts

Cobepa will remain a minority shareholder and continue to support Princess Yachts after the transaction.

#PORTFOLIO #PRINCESSYACHTS #DIVESTMENT

31.08.2012 / Portfolio news

Unveiling the debut Princess 40M, Imperial Princess

The new 40M, which is the largest yacht the company has built to date, offers accommodation for up to 12 guests, with well-appointed cabins for up to 8 crew members and the largest internal volume in her class.

#princess #yachts

31.10.2011 / Portfolio news

Full steam ahead for new superyacht facility

Princess Yachts International has won financial backing from the government's Regional Growth Fund for a major investment in Plymouth's Devonport dockyard. Plans to create a world leading boat building facility at the company's South Yard site were approved by City Council last year, following which the company sought a government contribution to help secure approval for this major investment from its French parent company.

Building well positioned brands in enduring categories leads to growth.

Throughout our 34 year history, we have helped our portfolio companies achieve their business goals and objectives and become leaders in their respective industry segments.

We are currently targeting investments globally across the following platforms:

• Flagship Buyout
• Latin America
• Real Estate
• Retail & Restaurants
• Food & Beverage
• Consumer Brands
• Consumer Services
• Venture / Minority

L  Catterton Asia

Latest fund.

L  Catterton Asia III

Target Equity Investment Range

$100+ million

Current Portfoli1o Companies