Superyacht Services · Independent Sponsor
Bridging high finance and the high seas.
Q Flag Capital partners with the founder-owned service businesses the global superyacht fleet can't operate without. Led by an active superyacht captain with M&A roots, we bring liquidity, growth capital and an insider's network, while you stay in command.
Why "Q Flag"
A clean bill of health
In the International Code of Signals, a vessel arriving in a new port hoists the yellow Q flag:
"My vessel is healthy and I request free pratique."
It is the signal that a well-run ship is ready to come ashore and do business. That is exactly the kind of company we look for: healthy, trusted and ready for its next port of call. Our job is to help it get there.
Investment Focus
Mission-critical services the fleet can't live without.
We look for recurring, must-have services with strong technical moats, loyal customers and room to grow through add-ons and new geographies.
Connectivity, networks, entertainment and onboard technology integration and support.
Planned maintenance, refit project management and the technical backbone behind every well-run yacht.
Safety equipment, medical support, training and the regulatory work that keeps vessels legal across jurisdictions.
Boarding systems, cranes, awnings and deck hardware with long service tails.
Physical and cyber security for high-profile owners, guests and assets on the move.
Machinery service, stabilizers, watermakers, propulsion and systems that need ongoing maintenance.
Parts, provisioning and logistics that move product to vessels anywhere in the world, on time.
Placement, training, payroll and the human side of operating a vessel at the highest standard.
What we look for
- $3M to $50M revenue; $1.5M to $10M EBITDA
- Founder or family owned for 10+ years
- Recurring, non-elective services with high retention
- An excellent reputation among captains and managers
- An owner who wants to keep building and take a "second bite"
What we pass on
- Boat and yacht builders
- Single-product businesses selling to recreational boaters
- Turnarounds without a trusted operator in place
- Owners looking for a quick exit with no handover
For Business Owners
Liquidity today. A larger outcome tomorrow.
You've built something that can't be replicated: relationships, a team that executes and a reputation captains trust. We want to fuel it, not change it. You stay in command; we provide the fuel.
Let's address the elephant in the room
Nothing like the private equity you've heard about.
Not corporate raiders
We don't strip businesses for parts or flip them in 18 months. A lasting platform only works if your business thrives.
Not consultants
You're the expert. We bring capital, systems and support, not a slide deck telling you how to run your shop.
Not replacing you
We back founders because the founder is the professional management. Your expertise is the asset.
Not short-term
Our horizon is 3–5 years minimum. We make money when you make money.
What stays the same
- You remain CEO / President and run day-to-day operations
- Your team stays intact. We invest in them, not replace them
- Your brand, customer relationships and legacy continue
- The technical excellence that built the business
What gets better
- Growth capital and financial visibility
- Strategic add-on acquisitions and new service lines
- Cross-selling across a platform of complementary companies
- Expansion into new hubs across the US, UK, Europe and beyond
David Kennerly
Captain & Managing Partner- Superyacht industry 14 years
- In command 9 years as Captain
- Finance M&A, Morgan Keegan
- Education BSBA Finance, UNC Kenan-Flagler
The Principal
One of you, who also speaks M&A.
I'm an active superyacht captain who started my career in middle market M&A at Morgan Keegan. I've hired, relied on and paid the service providers this industry depends on for well over a decade. I know what good looks like, and I know how to bring capital to it.
Running a superyacht is running a business.
- Full P&L accountabilityBudgets, forecasting and cost control on assets worth up to $140M
- Procurement & vendor negotiationSelecting, managing and negotiating with service providers worldwide
- Capital projectsRefits, upgrades and compliance work from $500K to $5M+
- Multinational teamsRecruiting, leading and retaining crews of up to 65 people
- Regulatory complianceFlag states, port authorities, customs and immigration across jurisdictions
- Zero tolerance for failureSafety, reliability and reputation on the line every single day
All of it delivered for principals who expect flawless execution.
Bottom line: I'm not a tourist in this industry. I'm an operator who also understands private equity.
Our Edge
Access, expertise and capital in one seat.
Most investors can't get the meeting. Most operators can't raise the money. We sit at the intersection.
Access
A global network of captains, managers and decision-makers who choose which vendors get the work, including a verified community of roughly 1,000 Master and Mate certificate holders.
Expertise
Years as a client of the industry's service providers. We know who's up, who's out and what makes a great business in this niche, and how to grow one without breaking it.
Capital
Relationships with private equity funds, family offices and lenders built since Morgan Keegan and UNC, matched to each opportunity on a deal-by-deal basis.
For Capital Partners
Proprietary deal flow in a niche institutional capital has missed.
Q Flag Capital sources off-market opportunities through direct, operator-level relationships and brings them to aligned capital partners on a deal-by-deal basis.
Discuss PartneringGet in Touch
Let's have a conversation, not a pitch.
No pressure and no obligation. Just a confidential discussion between two people who care about this industry. The worst that happens: we have a good conversation and you get some free insight into valuation and deal structure.
david@qflagcapital.com