Discovery Yachts shareholding is increased
Werner Schnaebele has increased his shareholding in Discovery Yachts Group by 20% from company MD Sean Langdon.
Werner is operating through Binti Holding GmbH, with the shareholding in addition to a 10% shareholding acquisition in the group during the successful crowd-funding held earlier in 2018.
Werner – who has a Discovery 58 in build - is based in Germany and will join the board as a non-executive director. He will not be involved in the day-to-day running of the company.
“We are delighted to welcome the bigger involvement of Werner in our business and it’s a great endorsement for our plans going forward,” said Sean, who together with his management team retains more than 35% of the company.
The announcement comes as Discovery launches a new brand – that of Britannia Yachts with the Britannia 74 the first model to be built.
There are also plans for a Britannia 34, 64 and 84.
“This will push us up to almost 20 yachts in the group,” said Sean. “They’re all built by the same team, with the same attention to detail and quality.
“We carried out all our research and found there was a gap in the market for something traditional but with a modern look and no maintenance.
“To be able to survive the ups and downs of the market we need to have a diverse range, but we also need to be the best in each area.”
Discovery has also announced plans for a syndicated ownership scheme for the Britannia 74, with yachts owned by a limited company that people have shares in.
“There will be a maximum of six owners and a six-year programme with a small amount of charter included to cover costs,” explained Sean. “It will be targeted initially at people who are not necessarily boat owners.”
After six years the boat will be sold.
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