Sunseeker deal sees bus boss Souter take to the boats

Published on Wednesday 2 June 2010 19:55

STAGECOACH boss Brian Souter was yesterday revealed to be part of a consortium of British and Irish investors who have paid £25 million for a majority stake in luxury yacht manufacturer Sunseeker International.

The team, led by Dublin-based FL Partners, owner of the Racing Post, also includes Mike Clare, chief executive of bed retailer Dreams.

It is understood Souter has invested 9.5m in the venture.

The 40-year-old company, which is based in Poole, Dorset, and employs more than 2,300, has made yachts that have featured in recent James Bond films Casino Royale and Quantum of Solace.

Co-founder Robert Braithwaite, who remains a major shareholder, said: "The combination of significant new equity capital together with our existing market-leading positions is a compelling one."

Braithwaite will be president and non-executive chairman of Sunseeker. Stewart McIntyre, chief operating officer, has been appointed managing director.

Andy MacFie, who manages Souter Investments, will join the board along with two directors of FL Partners, Peter Crowley and Neill Hughes.

FL has refinanced Sunseeker's debt with a 40m package of long-term loans from Macquarie Bank of Australia and Haymarket Financial.