Sunrise Yachts has entered into an agreement with Diamond Living Private Investment Fund, an international fund managed out of Hong Kong. The firm has agreed to take a controlling interest in the company in order to contribute in its second phase of development.
Commenting on the agreement, Diamond Living’s MD Wes Medford says: “It is our view that Sunrise represents a good recognised brand and that the company can deliver high-quality yachts at an appealing price. We have discussed with Sunrise the opportunity for us to step in as a strategic investor with a goal to assist them in their growth ambitions as well as increase their sales spectrum due to our strong positioning on the Asian market.”
Sunrise has built several noteworthy vessels, including the Espen Oeino designed 63m motoryacht Irimari, launched in 2015. The company was founded in 2007.
“In Diamond Living, we have found the ideal strategic partner that we have been seeking for quite a while. It will provide a strong stable base for Sunrise and allow us to offer total security and comfort to our clients. Also this partnership will provide us with the ability to develop our own niche projects to speculate on the market”, says Guillaume Roché, Sunrise Yachts’ co-founder who is to remain as CEO.
The Diamond-Sunrise deal was brokered by Even Keel Partners in London. It is expected to be consummated by mid-January 2016.