On February 23, 2010 an agreement was announced between Pendennis and Devonport Yachts Ltd., who has been the name behind the Devonport brand of superyachts and is now a partner of the well known yacht builder. The company also announced that Ernesto Bertarelli, yacht owner and two time winner of the America’s Cup, will now be a minor shareholder in the acquisition of Devonport Yachts by Pendennis.
Pendennis is currently one of the Cornwall regions most recognizable employers with more than 300 skilled trade people working at their more than six acre water front facility in Falmouth, and this acquisition is expected to bring about even more of an economic boost to the area.
Mike Carr, Joint Managing Director of Pendennis, said: “This acquisition provides the group with a powerful brand with which to penetrate the 60m+ new build and refit markets and to continue to develop our position as a leading international superyacht
business. Over our 20+ year history, we have established Pendennis as a leading brand for refit and new build of superyachts up to 60m whilst at the same time developing jobs and facilities in Falmouth. Placing the Devonport brand and Devonport Yachts Ltd’s other assets within the group will expand our portfolio and help accelerate plans to further develop Falmouth as the UK’s premier superyacht centre of excellence.”
In spite of the merging of these two entities, Devonport Yachts will remain separate under the supervision of managing director Stephen Hills as it concentrates on delving into the 60 meter plus sector. Creating yachts over the 60 meter mark, or 197 feet, is new to the yacht builder who is looking to expand their portfolio considerably.
In the builder’s more than twenty year history, the focus has been on smaller, luxurious superyachts and also refitting yachts from all makers. But now, Pendennis boasts one of the biggest covered dry docks in all of Europe at an impressive 150 meters long since its recent expansion which has enabled it to join the world of superyachts larger than 60 meters.
Other recent developments and improvements at the shipyard include the enclosure of an outer 75 meter dry dock and the addition of a 55 meter long covered space within the yard’s center. And, some of the most current projects by the builder include the Barracuda 105 and the Ron Holland 150, both new builds, and the refitting of the sailing yachts the Moonbird and Mariette, and a 50 meter Feadship.
And, some of the projects bearing the Devonport brand name include the recent and complete restoration and rebuild of the Talitha G, a motor yacht which is 65th amongst the world’s largest yachts, and the conversion of a weather ship into a yacht, the Salem, and also building a 77 meter diesel electric yacht the Samar.
The coupling and marriage of the two renowned names of Pendennis and Devonport in the superyacht industry is sure to bring about some of the most interesting developments the great world of yachting has ever seen.
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