Sunseeker International has been sold to Miami-based investment firm Lionheart Capital and Italian-owned Orienta Capital Partners for an undisclosed fee. The closing of the deal concludes an 11-year ownership under China’s Dalian Wanda Group. The news was confirmed today at the Fort Lauderdale Boat Show.

The new owners have confirmed that Sunseeker’s headquarters and core production will remain in Poole, UK, maintaining their previously stated commitment to the brand’s British roots.

At the press conference, the shipyard openly acknowledged falling behind its Italian competitors but celebrated the new investment and ownership as a crucial step to reverse course. Through its partnership with Orienta, Sunseeker aims to enhance production capabilities and infuse its offerings with Italian design expertise.

Lionheart, led by founder and CEO Ophir Sternberg, adds Sunseeker to its growing portfolio, which includes investments in sectors such as high-performance boating with Cigarette Racing, acquired in 2021 amongst other ventures.

Orienta, which was founded in 2015, brings in partners Giancarlo Galeone and Augusto Balestra, both having previously held executive roles at Ferretti.

Galeone, Ferretti’s CEO from 1995 to 2006, will serve as chairman of Sunseeker’s board alongside Sunseeker CEO, Andrea Frabetti.

Following extensive asset sales by Wanda to counter mounting debt and avoid potential bankruptcy, the sale marks a critical shift for Sunseeker and a necessary change for the growth of the company.

Wanda Group initially acquired Sunseeker in 2013 for £320 million.

However, in recent years, Wanda faced mounting challenges as borrowing costs rose and Chinese regulators cracked down on the property sector, ultimately leading the conglomerate to divest core assets, including stakes in commercial facilities, cinema operations and high-end properties.

Despite difficulties under Wanda, Sunseeker’s recent performance has shown resilience, with its order book reaching £625 million (€730 million) in 2023. Revenue has climbed steadily, with a projection of £284 million in 2024, following pandemic-driven setbacks in 2020 when production halted for three months, halving sales to £140 million and leading to an EBITDA loss of £6.4 million.

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