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MBO for Discovery Yachts
Sean Langdon has led a MBO of Discovery Yachts
Discovery Yachts MD Sean Langdon has headed a management buyout of the company, following the retirement of founder and chairman John Charnley.
Mr Langdon has been MD since August 2016 and since then has worked closely with Mr Charnley on the succession of the brand.
“I am very proud to be heading up the management team here at Discovery, we have some exciting plans that we will share with all our customers very shortly,” said Mr Langdon. “Now John has passed on the batten, my team and I plan to build on the superb reputation of the Discovery brand in the future.”
And he said plans include expanding the current range with the launch of a new 48ft luxury cruising yacht in early 2018 as well as adding another brand into the mix for the Discovery Group.
The new management team is currently taking ‘prudent and proactive’ restructuring steps to mitigate the results of the past challenging trading conditions faced by many marine businesses including financial restructuring involving new investors and shareholders.
So far this year Discovery Yachts has secured £2.3m in new orders
The company was founded by Mr Charnley and his wife Caroline 18 years ago with the ambition to build a range of luxury cruising yachts for bluewater sailing enthusiasts.
In close collaboration with super yacht designer Ron Holland, the couple developed a range of monohull ocean passage cruising yachts including the Discovery 55, the flagship Discovery 67 and the most recent launch – the Discovery 58.
The most recent launch is the Bluewater 50 catamaran, design by Bill Dixon with two of these new models currently being built.