PE Deals

KPS Capital to acquire manufacturer Princess Yachts

The existing stockholders will retain ownership in the company.

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  • The deal is expected to close in the first quarter of 2023
  • Macquarie Capital served as financial advisor to Princess Yachts on the deal
  • KPS has over $14.4 billion of assets under management, as of September 30, 2022

KPS Capital Partners has agreed to acquire a controlling equity stake in Plymouth, England-based Princess Yachts, a manufacturer of luxury motor yachts. Existing stockholders will retain ownership in the company. The deal is expected in the first quarter of 2023.

On the deal, Ryan Harrison, a partner of KPS Mid-Cap Investments, said in a statement, “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, CEO Antony Sheriff, the senior leadership team and the talented employee base at Princess Yachts.”

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.

KPS invests in manufacturing and industrial companies. It has over $14.4 billion of assets under management, as of September 30, 2022.