UK & International Business Sales and M&A News

Cure Marine, based in Coolum Beach, Australia, has now concluded operations, with production of the Cure range transitioning to McConaghy. What began as a potential production partnership has evolved into a full integration of the brand into the McConaghy portfolio. Under this new structure, McConaghy will take over the manufacturing of the Cure range, transitioning production to McConaghy’s facilities to leverage their industry-leading composite engineering and autoclave technologies.

McConaghy was founded by John McConaghy in 1967, and his passion for innovation led to the introduction of novel materials never before used in marine applications. In the mid-1970s, McConaghy was one of the first to apply prepreg carbon to sailing boat construction, and today the company manufacturers vessels from luxury multihulls to high performance race yachts.

McConaghy is now privately owned by Mark Evans and Tiger Group Investments, and has tripled in size in the past decade. The company currently employs 200+ staff and operates from facilities in Australia, China and Hong Kong.

Group Managing Director Evans said:

While production moves to McConaghy’s international facilities, the brand maintains its strong Australian heritage through its ongoing connection to McConaghy’s Sydney HQ and the continued collaboration with the original design team.

To ensure continuity and maintain the brand’s high standards of client service, McConaghy has appointed Ed Penn as Sales Manager for the Cure series. Penn, a pivotal figure in Cure’s initial success, joins the McConaghy team to lead the brand’s global commercial efforts.

Evans continued:

McConaghy is already undertaking a design evolution of the Cure 55GT and Cure 48GT models, with further details on these refined iterations expected to be unveiled soon.