Founded in 1988 by entrepreneur Peter de Savary, who relocated a local yacht builder he acquired to Falmouth Docks. The shipyard quickly made a name for itself in the industry with its first launch, the 38.1-metre ketch, La Cattiva, and the restoration of the 69.46-metre schooner Adix. Following a management buyout in 1993, led by Mike Carr and Henk Wiekens together with David Bentley and Peter Wood, Pendennis continued to expand, launching an apprentice scheme in 1998 and launching its debut custom motor superyacht, the 45m Llona in 1999. Since then, Pendennis has invested over 22 million pounds in its 14-acre waterfront facility, which includes three purpose-built construction halls, a 150-metre undercover dry dock, and a non-tidal wet basin with direct seaward access for superyachts up to 100 metres. Today, the shipyard employs more than 550 skilled tradespeople, expanding strategically over the years. In 2011, it opened a refit office in Palma in 2011, in 2019  a Technical Service Centre at Vilanova Grand Marina near Barcelona, and in September 2024, Pendennis acquired a majority interest in Cockwells Modern & Classic Boatbuilding. The shipyard’s portfolio spans more than 350 refits and over 30 custom builds, including the 44.2-metre Hemisphere, the world’s largest sailing catamaran, and the 59-metre classic Marala, awarded Best Rebuild at the 2023 World Superyacht Awards. Recent deliveries include the 34.9-metre explorer Fox, launched in 2024.