Discovery Yachts Group exceed its funding target
British Marine member, Discovery Yachts Group, has been getting involved in crowd funding, and this relatively new investment tool has secured the company in excess of £2 million in less than a fortnight, comfortably exceeding its target of £750,000.
CFO, Keith Watson is delighted by this show of confidence in the brands and the management team: “In April 2017 we took two great sailing boat builders back to the market place and got these beautifully designed yachts back on the water. This new crowd funding initiative has shown that investors large and small have confidence in what we have achieved and our plans for future development. We decided to significantly overfund our initial target of £750k to ensure we had financial resilience and fire power for the challenges ahead.”
The future is looking bright for Discovery Yacht Group according to Sean Langdon, Managing Director: “We have successfully turned around two businesses in less than a year and we are ready for another. We have a robust financial position and are actively looking for opportunities to grow the group of companies in our portfolio.”
Discovery Yachts Group was formed in April 2017 having acquired Discovery Yachts and Southerly Yachts. Since then a new brand has been created, Bluewater, to separate this niche luxury catamaran class.
