D. and W. Henderson and Company

After the deaths of both David Tod and John Macgregor, the shipbuilding business was sold and renamed D and W Henderson and Company.

She was designed by George Lennox Watson and built alongside HMY Britannia at the D&W Henderson shipyard, Meadowside, Partick on the River Clyde, Scotland in 1893 for owner Lord Dunraven of the Royal Yacht Squadron.

Royal Yacht HMY Britannia was ordered in 1892 by Edward, Prince of Wales and designed by George Lennox Watson.

Details of the commission were arranged on the Prince's behalf by William Jamieson who represented him and liaised closely with Watson.

Valkyrie III was built in 1895 for a syndicate of the Royal Yacht Squadron and challenged unsuccessfully that year for the America's Cup in a contest surrounded by controversy.