Motor yacht builder Fairline Yachts is being acquired for an undisclosed sum by Hanover Investors, as the company seeks to capitalise on the buoyant global market, it has been announced.
While there have been significant economic headwinds globally because of the pandemic, the luxury yacht sector is one that is booming.
Matthew Peacock, founder and CEO of Hanover Investors said: “We are delighted to welcome Fairline into our family of portfolio companies. It is a company with a rich heritage of quality, luxury and engineering excellence and we believe that, with our backing and expertise, it can realise its full potential.”
Since 1967 Fairline has built a reputation, and beautiful yachts, based on an enduring foundation of expert craftsmanship, luxury and performance. It has developed from humble beginnings in Oundle, Northamptonshire to worldwide recognition and a global network of more than 50 dealers.
Peter McNulty, Chief Executive Officer of Fairline Yachts, said: “It is a testament to the hard work of the team here at Fairline, that a firm with the calibre of Hanover Investors has decided to back us. It has an excellent track record of working with companies through its world class approach to integrating both investment and operations, with a particular focus on internationalising companies. While we already have an impressive international footprint, with Hanover by our side, I know we can go a lot further and faster.”
Jason Carley, senior partner of Hanover Investors, was previously chairman of Fairline Yachts: “It is great to be back on board with Fairline. I know from my previous involvement with the company how much potential it has. It has a very strong order book, an exciting product range and the factory is very busy. We are going to back the management team and the company as a whole to unlock the value within it and to catalyse its growth.”