Cockwells is accelerating the launch of its hotly anticipated new Duchy 45 gentleman’s cruiser after receiving two significant boosts.
To speed up the Duchy 45’s launch, Cockwell firstly sold a majority stake in its boatbuilding business to the Pendennis superyacht yard in nearby Falmouth. Second, it has secured £1.88 million of funding from the Cornwall and Isles of Scilly Good Growth initiative.
The merger with Pendennis makes sound strategic sense for Cockwells, which already has a strong reputation for building bespoke superyacht tenders. It will also give it access to Pendennis’s more extensive facilities, resources and funding to help develop its production range of Duchy and Hardy motoryachts, including the Duchy 45.
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The capital injection from the Good Growth initiative will primarily be used to double capacity at Cockwells’ own Mylor Creek and South West Shipyard sites in nearby Ponsharden, creating around 40 new jobs over the next three years …