Sunseeker International has been sold to an Italian and American partnership of private equity companies.
The acquisition by Lionheart Capital and Orienta Capital Partners was confirmed at a press conference at the 2024 Fort Lauderdale International Boat Show and ends months of speculation.
The boatbuilder had been owned by the Chinese Dalian Wanda Group since 2013.
American based Lionheart Capital has backed many companies including restaurant chain BurgerFi International Inc., reimbursement specialist MSP Recovery Inc. and technology company SMX (Security Matters) Plc. In 2021, the firm was part of a group that bought powerboat maker Cigarette Racing Team.
Italian based Orienta Capital Partners is an investment company which specialises in club deals and financial holdings, led by experienced managers and entrepreneurs committed to support target companies’ growth and value generation.
The press conference heard that boatbuilding will continue to take place in Poole, UK, with Giancarlo Geleone, Orienta partner, and Ophir Sternberg, Lionheart founder and CEO, joining the Sunseeker executive team.
“They have the knowledge, and they love the product,” said Sunseeker head Andrea Frabetti.
“The expectation is to work together for the future of the company.”
Giancarlo Geleone is a known figure in the yacht industry.
It’s an iconic brand with a dedication to excellence.
Ophir Sternberg
Under the presidency of Norberto Ferretti, Giancarlo served as CEO and later vice president of the Ferretti Group — of which he was also a shareholder through a management buyout.
In 2008, he joined Wally Yachts, and later, alongside Luca Ferrari and Gilberto Grassi, co-founded Anvera, a shipyard specialising in the construction of large RIBs.
“It’s an honour to be part of this team,” he said. “It’s one of the best brands that there is on the market.”
He added: “There is a lot of opportunity, we are in a good position to have a better future.”
Ophir Sternberg added: “The acquisition checks all the boxes for Lionheart.
“It’s an iconic brand with a dedication to excellence.”
He continued: “We found a great partner. With Orienta I think we have a very complimentary skill set. We will be able to make it to the next level and reach new heights.”
The Poole based boatbuilder, founded in 1969, confirmed a £40 million investment for new product development, workforce training and production enhancements in 2023.
The boatbuilder produces around 150 boats a year from 50 to 130ft in length and has a workforce of around 2,250 employees.
Wanda acquired a 92% stake in Sunseeker in mid-2013 for an estimated ₤320 million.
No financial details of the transaction will be released.
