Ownership deal completed
UK yacht builder Sunseeker International has confirmed that Cross Ocean Partners and Cheyne Capital have formally completed their acquisition of the company, becoming its long-term owners and shareholders. The transfer process began in April, when a planned acquisition of Sunseeker by a consortium led by KCP Holdings collapsed. Sunseeker has also appointed Scott Millar as chief executive officer.
Cross Ocean Partners and Cheyne Capital already held positions in Sunseeker through the company's financial restructuring, having provided new funding in November 2025. When the KCP Holdings deal fell through, the two firms stepped in to keep the business running and pledged further investment. That investment has now been formalised, with both firms confirmed as Sunseeker's shareholders.
New chief executive
Millar first joined Sunseeker through Teneo, where he was engaged to help develop the company's five-year growth plan. As that work progressed, his experience leading complex transformations and his understanding of the brand led to him taking on the CEO role permanently.
Millar has more than 27 years' experience in business transformation and operational improvement, and has held senior executive roles including chief executive officer and chief transformation officer across a range of international industries.
His appointment follows a period under interim CEO Steve Timms, who joined Sunseeker as an electrician in 2000 and rose through production and operations roles before being appointed interim CEO in April to guide the business through its ownership transition. He will hand over to Millar in the coming months.
Timms said it was important not to rush the appointment of a permanent CEO. "We wanted it to be someone who truly cares about this brand, who has the vision, passion and experience necessary to lead Sunseeker into its next phase of growth with true stability," he said. "Scott is the perfect choice. He and his team at Teneo were responsible for creating the five-year strategic plan that has been guiding our business. That's why we're so pleased that, after an outstanding career with Teneo, Scott has chosen to join Sunseeker permanently as CEO. He already understands our people, our products and our ambitions, and I know he will be a great leader for the company."
Millar said Sunseeker was one of the most admired names in the marine industry. "With an extraordinary heritage, an exceptional product range and an incredibly talented team," he said. "I especially want to thank Steve his exceptional work and leadership, and look forward to working together again over the coming months and years. What attracted me most to Sunseeker was the scale of opportunity ahead. We have a clear vision, ambitious plans for growth and the full support of our shareholders to invest in the brand, our people and our products. I am honoured to lead the business into this next chapter and excited about what we can achieve together for our customers."
New leadership team
Sunseeker has also made four further executive appointments alongside Millar's, bringing in experience from automotive, manufacturing, technology, transformation and global premium consumer brands.
Andy Gawthorpe joins as chief commercial officer. He has held senior commercial leadership roles including global sales director at Aston Martin and seven years at Triumph Motorcycles, where he helped deliver record sales growth.
Ian Morgan takes on the role of chief strategy officer. He has nearly two decades of experience delivering strategic transformation programmes across the automotive and premium consumer sectors, and has already worked closely with Sunseeker's leadership team on the company's superyacht strategy and growth plan.
As chief information officer, James Grove will lead Sunseeker's digital transformation programme. He joins from senior technology leadership roles at Chelsea FC and Southampton FC, and was recognised as a HotTopics Global CIO 100 winner in 2026.
Adrian Mardell becomes non-executive chairman, having previously held leadership roles at Jaguar Land Rover, where he oversaw what the company describes as its most successful period of growth while working on improvements to customer and employee experience.
What's next for Sunseeker
Backed by investment from Cross Ocean Partners and Cheyne Capital, Sunseeker has begun a transformation across its commercial, product and operations divisions, including a new product development plan to expand its range. The company plans to unveil a rebrand alongside new product concepts at this year's Cannes Yachting Festival.
About Sunseeker and its new owners
Sunseeker International was founded in 1969 and is headquartered in Poole, Dorset. The British manufacturer employs around 1,900 people and produces approximately 90 yachts a year ranging from 55ft to 134ft, with 98 percent exported worldwide.
Cross Ocean Partners, established in 2015, is a global alternative investment manager with approximately $12.2 billion in assets under management and offices in Greenwich, London, Dublin and Luxembourg. Cheyne Capital, launched in 2000 and headquartered in London, invests across the capital structure from senior debt to equity of corporates and real estate.
Go Boating has contacted DCH Marine, Sunseeker's New Zealand distributor, for comment. At the time of publication no response had been received. This article will be updated if and when comment is provided.
