Fairline Yachts Acquired

Author:
Publish date:
1_Fairline_Targa-Hero-landscape-2500x1563

Fairline Yachts has been sold to private equity group Hanover Investors, the company said in a statement.

Terms of the deal were not disclosed.

It was the third time in five years the builder has changed ownership. Last summer, RiverRock acquired a majority stake in the U.K. builder from its previous investors, who bought Fairline in 2016.

2_Fairline_f33-exterior-5359

The team at Hanover includes senior partner Jason Carley, former chairman at Fairline.

“It is great to be back on board with Fairline,” said Carley. “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 catalyze its growth.”

3_fairline-squadron-68

Fairline CEO Peter McNulty is confident that Hanover Investors is the ideal match to the 54-year-old builder.

“Hanover Investors...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 internationalizing companies. While we already have an impressive international footprint, with Hanover by our side, I know we can go a lot further and faster,” said McNulty. 

Related

A Record Q2 for Brunswick

With strong global demand in all its business segments, Brunswick Corp. reported another stellar quarter, posting a 57 percent jump in net sales.

OneWater Adds PartsVu

The online marketplace for marine parts, accessories and electronics posted $25 million in sales over the last year.

Groupe Beneteau Updates Revenue Forecasts, More

The builder saw gains in its boat and luxury-home sectors and made several acquisitions, including a majority stake in Dream Yacht Group.

Golden Manufacturing Expands

The fabricator of aluminum boat lifts and aluminum and concrete floating docks adds 18,000 square feet to its Fort Myers, Fla., headquarters.

GetMyBoat Takes You to the Movies

The boat rental marketplace site teams with Disney’s Jungle Cruise for a contest to win a boat trip or movie tickets.

ConMar Adds to Sales Team

The manufacturers’ representatives add industry vet Brain Steele.

Will Canada Reopen to Boaters?

Set to open its borders to fully vaccinated U.S. residents next month, our neighbor to the north could be facing a strike by Canadian border guards and customs officials. Plus, the Great Lakes welcomes a newly designated marine sanctuary.