Sunseeker International has been forced to secure emergency capital investment from specialist lenders as the luxury yacht builder battles collapsing US sales and mounting inventory problems. The crisis marks the second time in 15 years that the Poole-based manufacturer has required a financial rescue, with the company’s largest export market now in freefall.
The manufacturer confirmed in November 2025 that Cheyne Capital and Cross Ocean Partners had provided new funding to support operations. The move followed redundancies, temporary layoffs, and the departure of chief executive Andrea Frabetti.
Sunseeker exports more than 50 per cent of its production to the United States through OneWater Marine, which became the company’s sole US distributor in 2021. However, trade tariffs introduced under the Trump administration have devastated demand in what was previously the company’s strongest market.
US Market Collapse
OneWater Marine, the world’s largest Sunseeker dealer operating across the eastern seaboard, reported declining yacht sales throughout 2025. The Florida-based distributor warned that new tariffs on imported yachts under 30 metres would create additional challenges for European brands.
The collapse in US demand has left UK dealers struggling with unsold inventory. Sunseeker announced 200 redundancies in June 2025, with former chief executive Frabetti directly blaming American trade policy for the crisis.
Sunseeker temporarily laid off around 100 production workers shortly before Christmas 2024, citing cash-flow challenges and supply chain restrictions. Workers returned in late January 2025, but the company proceeded with its restructuring programme.
Historic Parallels
The current crisis echoes Sunseeker’s near-collapse during the 2008 financial crisis. Founder Robert Braithwaite, who died in March 2019, led a £44 million management buyout in 2006 backed by Bank of Scotland.
When Bank of Scotland collapsed and required a £17 billion government bailout, the broken bank called in its loans. Sunseeker posted a £9.1 million loss in 2009, compounded by an unexpected £6.1 million bill to bail out a distributor.
Braithwaite was forced to sell the majority of his shares to Irish private equity firm FL Partners in 2010 for just £25 million. The consortium included golfer Rory McIlroy, bus tycoon Sir Brian Souter, and Australian bank Macquarie.
Three years later, China’s Dalian Wanda Group bought a 91.8 per cent stake for up to £390 million. Sir Brian Souter alone pocketed over £100 million in profits, with McIlroy and other investors also securing substantial returns from the distressed asset purchase.
Wanda sold Sunseeker to US-based Lionheart Capital and Italy’s Orienta Capital Partners in October 2024 for an undisclosed sum.
Leadership Changes
Scott Millar became interim chief executive in December 2025 following Frabetti’s departure. Millar, who has nearly three decades of experience in luxury brands, faces the challenge of stabilising operations while maintaining Sunseeker’s order book.
The company appointed Mark Chinery as sales director and Mario Gornati as marketing and communications director in November 2025, signalling efforts to rebuild its commercial leadership.
Sunseeker reduced its original redundancy proposal from 200 positions to 50 compulsory redundancies after restructuring created 44 new roles. The company remains focused on fulfilling its global order book and developing its superyacht range announced in January 2025.
Whether the emergency funding and new leadership can stabilise Sunseeker remains uncertain. With more than half its production destined for an American market now hostile to imported yachts, the company faces a challenge that cannot be solved by cost-cutting alone. Lionheart Capital and Orienta Capital Partners have expressed confidence in the long-term prospects, but Sunseeker’s recovery depends on factors beyond management control.
John Moore’s involvement in powerboat racing began in 1981 when he competed in his first offshore powerboat race. After a career as a Financial Futures broker in the City of London, specialising in UK interest rate markets, he became actively involved in event organisation and powerboat racing journalism.
He served as Event Director for the Cowes–Torquay–Cowes races between 2010 and 2013. In 2016, he launched Powerboat Racing World, a digital platform providing global powerboat racing news and insights. The following year, he co-founded UKOPRA, helping to rejuvenate offshore racing in the United Kingdom. He sold Powerboat Racing World in late 2021 and remained actively involved with UKOPRA until 2025.
In 2025, he established Powerboat News, returning to independent journalism with a focus on neutral and comprehensive coverage of the sport.
