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.
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.”
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.