Company: Spirit Yachts
Business Type: Boat Builder
UK & International Business Sales and M&A News
Yacht design and build company Spirit Yachts has announced a new management and ownership structure.
The business’ original founder Sean McMillan has taken a step back from his CEO role to become a consultant designer and brand ambassador, and the company is now majority-owned by a group of Spirit Yacht owners, who have committed significant capital to strengthen future business growth.
The yacht design company continues to be run by its existing Managing Director Karen Underwood, who will be assisted by a newly appointed Production and Design Director and Spirit Yachts’ Marketing Director Helen Porter.
McMillan will continue to be closely involved in the design of Spirit’s custom yachts working alongside Spirit’s award-winning designer Tom Smith, and the company’s in-house team of designers and naval architects.
Underwood commented:
“Since Spirit Yachts was founded 30 years ago, Sean has instilled his creativity and vision into the DNA of the business.
“From humble beginnings in the Suffolk countryside to multiple award wins, yachts in two Bond films, and over 80 bespoke yachts located worldwide, Spirit Yachts is a unique success story that continues to push the boundaries.”
Karen Underwood – Managing Director of Spirit Yachts
In 1993, Suffolk-based Spirit Yachts was founded by McMillan and Mick Newman, who set out to offer yacht owners a beautiful, unique, and sustainably sourced alternative to fibreglass production boats.
The company has a portfolio of customised, wooden sail and power yachts ranging from day sailors to superyachts, including the Spirit Classic, Spirit Deckhouse and Spirit Power. It operates from a large waterside facility with a team of highly skilled designers, naval architects, boat builders, cabinet makers, electricians and engineers.
Underwood continued:
“Today, the challenges are greater with supply chain hurdles, staff shortages, and the need to remain agile in the face of global events, but our commitment to quality, beauty, and lowering the carbon footprint of our yachts remains at the heart of Spirit Yachts.
“With a full yard, a strong sales pipeline, and secure investment, the team and I are well-equipped to deliver a prosperous future.”
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