Dutch yard Moonen Yachts is preparing to ramp up production after it was saved from bankruptcy by Australian investors Matthew and Louise Baxter.
Mr Baxter, who founded the privately owned global manufacturing group A M Group in 1972, recognised that the yard needed to "re-energise" but predicted "a promising future ahead."
The couple revealed they discovered the brand after spotting the Moonen 84 Aurora in Sydney's Pittwater Harbour.
Mr Baxter, who remains executive chairman of the A M Group, said: “The brand has an impeccable pedigree, the yachts are true Dutch quality and the team is young, reliable, talented and very loyal to the company. These characteristics are fundamental for success.”
He added: "We are well prepared with a strong strategic plan and a strong balance sheet."
Thanks to the investment, the Dutch yard is now preparing to ramp up production, with plans to start two new build projects, a 36 metre and 44 metre, in the next six months.
The yachts will be built on spec to allow shorter delivery times and enable owner customisation.
Meanwhile work continues on an already in-build 36 metre Martinique model, which is half way through construction. Moonen plans to display the yacht at the Monaco Yacht Show 2020.
The investment comes after a Dutch court declared the company bankrupt just weeks after it announced it was preparing to partner with a new investor.
Moonen chief executive Johan Dubbelman said: "We have trust in these new investors and have faith that they will establish a strong future for Moonen Yachts.”