The private-equity companies that planned a buyout of Sunseeker are no longer pursuing the deal. The plans have fallen through, following inability to secure funds by a deadline.
In March, the British boatbuilder revealed a partnership between KCP and Lionheart Capital to acquire it via a debt purchase. KCP, with offices in the United States, London, and Singapore, intended to take 100 percent of Sunseeker’s shares shortly thereafter. According to a statement from the shipyard today, Cheyne Capital and Cross Ocean Partners, the existing investors, are maintaining the current holding structure. “The consortium led by KCP was unable to complete the previously announced and agreed debt purchase and subsequent share acquisition within the required timeframe,” the statement reads. Additionally, Sunseeker says, “Subject to regulatory approvals, Cheyne Capital and Cross Ocean Partners intend to shortly take over ownership of the business.”
Due to the buyout of Sunseeker not proceeding, Andrés Rubio (above) is no longer in place to become the new CEO. Instead, Steve Timms (below), who has spent more than two decades at Sunseeker, is the interim CEO, with immediate effect. Timms most recently served as chief operating officer. Cheyne Capital and Cross Ocean Partners do, however, intend to seek out a permanent CEO. Antony Sheriff, a Sunseeker board member since November 2024, remains as a special advisor.
The intended buyout of Sunseeker follows a period of financial challenges for the nearly 60-year-old brand. Cheyne Capital and Cross Ocean Partners injected funds into it in November 2025, simultaneously with the appointment of a receiver. While the details of the funding remained confidential, it came after a proposed organizational restructuring in June. The re-organization intended to streamline operations, reduce expenses, and strengthen focus on projects like those in the superyacht division.
Cheyne Capital and Cross Ocean Partners intend to continue investing in ongoing operations until they secure new ownership. That still includes “repositioning the brand as a leading superyacht builder,” the Sunseeker statement indicates.
Sunseeker sunseeker.com
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