IT’S a byword for luxury, one of the star attractions at the Southampton Boat Show and an iconic south coast brand.

But the recession has proved stormy going for Sunseeker, which has been taken over after the debt-hit company sold a majority stake in the business to new investors.

A consortium of UK and Irish investors has bought a majority stake in Sunseeker International for £25m.

The team, led by Dublin-based FL Partners, owners of the Racing Post, also includes Stagecoach and South West Trains boss Brian Souter and chief executive of bed retailer Dreams, Mike Clare.

The company, based in Poole, Dorset, which employs more than 2,300 people, has made yachts that were featured in recent James Bond films Casino Royale and Quantum of Solace.

Sunseeker breached the conditions of its loans from Bank of Scotland after it sank to a loss of £9.1m last year, after sailing to £17.8m in the black the year before.

Co-founder Robert Braithwaite, who remains a major shareholder, said: “Sunseeker will continue to capture the imagination of its customers in all segments of the market and will have a very exciting future.”

Mr Braithwaite will be president and non-executive chairman of Sunseeker International. Stewart McIntyre, currently chief operating officer, has been appointed managing director.

Sunseeker said FL Partners had refinanced Sunseeker’s debt with a £40m package of long-term loans from Macquarie Bank of Australia and Haymarket Financial.