Founded in 1988, Falmouth-based Pendennis builds and refits luxury yachts. The company attributes the success of its international expansion to developing strong relationships with customers in mainland Europe and America. Last year the firm opened its first overseas operation, a refitting workshop in Palma, Majorca, intended to service the port’s large yacht community. Under chairman Terence Mordaunt the company has seen international sales grow 37% a year, from £13.1m in 2008 to £24.7m in 2010.
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