£2m investment secured for Discovery Shipyard

Discovery Shipyard

Discovery Shipyard, Lymington, has received a significant £2m additional investment in the yacht building business which employs a staff of 80, and eight apprentices.

The funds have been raised to use on capital expenditure as well as new project development. Werner Schaebele, who made the injection through his investment vehicle Binti Marine Holdings Ltd, became the sole owner of Discovery Shipyard in December 2019. Schaebele previously purchased the majority shareholding of the business in 2018 – since then his considerable investment in the shipyard is said to be responsible for ensuring its success and continuance.

“This is a very significant additional investment in the business by our highly supportive shareholder,” says MD John Burnie. “During 2020 many business like ours have been frustrated by the negative impact the virus pandemic has had on normal operations. So I am delighted that we have been allocated additional funds – this will enable us to progress important capital expenditures as well as to continue development items.

“Important projects include a newly designed Bluewater 50 Catamaran Mk 3, a redesigned Southerly 42 with lifting keel and there will be improvements made to the existing tooling. This is a very encouraging start to 2021 for the Discovery Shipyard – with strong interest and increased enquiry level in all our models, the employees and clients of the Discovery Shipyard can look forward to the coming year with considerable confidence.”

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This article was written and/or edited by the UK-based MIN team.

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