A US investment firm has acquired a controlling interest in the UK’s largest luxury boat builder Princess Yachts for an undisclosed sum.
The Devon-based manufacturer has reached an agreement with KPS Capital Partners, a former backer of golf equipment maker TaylorMade.
Completion of the transaction is expected in the first quarter of this year, subject to customary closing conditions and approvals, with existing Princess Yachts stockholders to retain ownership in the company.
