Sunseeker International, based in Dorset on the UK south coast, has appointed former COO Steve Timms as interim CEO and confirmed plans for new ownership, after a planned acquisition failed to materialise.
In March 2026, Sunseeker confirmed that a consortium led by KCP Holdings, in partnership with Lionheart Capital, was set to become the new owner of the company following completion of a debt purchase from existing lenders Cheyne Capital and Cross Ocean Partners.
The transaction had included an agreement for the consortium to acquire 100 per cent of Sunseeker shares.
However, in a statement shared with MIN this morning (9 April 2026), Sunseeker confirms that its existing investors, Cheyne Capital and Cross Ocean Partners, will instead maintain Sunseeker’s existing holding structure and take over ownership. Andrés Rubio, who had been announced in March as the firm’s new permanent CEO, will no longer take up the role.
“Sunseeker’s existing investors, Cheyne Capital and Cross Ocean Partners, have decided to maintain Sunseeker’s existing holding structure and believe that they are currently best placed to support our future growth plans and unlock value in the company,” a Sunseeker spokesperson tells MIN. “Subject to regulatory approvals, Cheyne Capital and Cross Ocean Partners intend to shortly take over ownership of the business.
“The consortium led by KCP was unable to complete the previously announced and agreed debt purchase and subsequent share acquisition within the required timeframe as it was not able to finalise its funding arrangements in time.
“Steve Timms, previously chief operating officer, with over 25 years of experience with the business, has been appointed as interim CEO whilst the company works with our advisers to undertake a comprehensive search process for a permanent CEO. Antony Sheriff will also remain with the business as a special advisor.”
The spokesperson adds: “Earlier this year, Sunseeker announced a new strategic direction for the business, focused on implementing a new growth plan and repositioning the brand as a leading superyacht builder. To support this plan, Cheyne Capital and Cross Ocean Partners plan to provide further investment into the business over the coming months across our products, operations and people to support ongoing operations and to accelerate future growth.”
Timms joined Sunseeker as an electrician in 2000 and has held numerous roles at the firm over the past 25 years, including business operations manager, production director and COO.
KCP Holdings was established in 1952 and operates from offices in New York, London, Singapore and Washington, DC. Cheyne is a London-based alternative investment fund manager, focusing primarily on corporate and real estate assets.
Italy’s Orienta Capital Partners and the US’s Lionheart Capital bought Sunseeker International from China’s Wanda real-estate group in November 2024.
The news comes as Sunseeker continues to undergo a restructuring process. In June 2025, the boatbuilder announced it was making 200 redundancies – around 10 per cent of its workforce – highlighting “softening in global demand” following “political and economic uncertainties”, particularly amid the fallout of Trump’s trade tariffs.
In November 2025, the firm confirmed it was receiving new capital investment from Cheyne Capital and Cross Ocean Partners. Shortly afterwards, former CEO Andrea Frabetti departed, and Sunseeker appointed Mark Chinery as its new sales director and Mario Gornati as marketing and communications director.
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