Sunrise Yachts signs agreement with Hong Kong based investment fund

Written by Merijn de Waard

Turkish superyacht builder Sunrise Yachts has announced that they have entered into an agreement with an international fund managed out of Hong Kong. The Diamond Living Private Investment Fund has agreed to take a controlling interest in the company in order to contribute in its second phase of development.

"It is our view that Sunrise represents a good recognised brand and that the company can deliver high-quality yachts at an appealing price. We have discussed with Sunrise the opportunity for us to step in as a strategic investor with a goal to assist them in their growth ambitions as well as increase their sales spectrum due to our strong positioning on the Asian market", according to Diamond Living's Managing Director, Wes Medford.

Founded in 2007, Sunrise Yachts has built three superyachts to date, including the 63 metre Espen Oeino designed Irimari.

"In Diamond Living, we have found the ideal strategic partner that we have been seeking for quite a while. It will provide a strong stable base for Sunrise and allow us to offer total security and comfort to our clients. Also this partnership will provide us with the ability to develop our own niche projects to speculate on the market", says Guillaume RochΓ©, Sunrise Yachts' co-founder who is to remain as CEO.

The Diamond-Sunrise deal was brokered by Even Keel Partners in London. It is expected to be consummated by mid-January 2016, at which point further announcements about its long-term plans will be made.



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