Consumer-focussed private investor L Catterton is close to agreeing the sale of UK-based luxury boat-builder Princess Yachts to US private equity firm KPS Capital Partners (KPS), with a deal set to be announced as as early as this week, according to a report by PlymouthLive.
Over the past 30 years, New York-based KPS, which has about $141 billion of assets under management, has focussed on acquiring manufacturing business in a range of markets including branded goods, consumer goods, healthcare and luxury products, and automotive parts. According to KPS, it creates portfolio company value “almost exclusively through operational and performance improvement”.
In 2017, KPS acquired Tiger Woods-backed TaylorMade Golf from Adidas in a $425 million and sold the business four years later to South Korean private equity firm Centroid Investment Partners for $1.7 billion.
