Skip to main content

Investors buy Fairline Boats

U.K.-based Fairline Boats was sold, the company announced.

Better Capital Ltd. announced that a company wholly owned by Becap Fund LP reached a formal agreement with the Royal Bank of Scotland PLC to acquire a majority stake in Masco 30 Ltd., a new company set up solely for the purpose of acquiring 100 percent of the share capital of Fairline Boats Acquisition Ltd. and its subsidiaries.

Under the agreement, West Register (Investments) Ltd., a company wholly owned by RBS, will acquire a minority stake in Masco 30 Ltd.

Fairline builds luxury boats ranging from 38 to 60 feet and sells them through an extensive independent dealer network in 69 locations worldwide.

Becap and RBS have committed $24.48 million and $6.2 million, respectively, to finance the transaction and to fund restructuring and working capital requirements.

Nick Sanders, a member of Better Capital LLP, will join the Fairline Group’s board as chairman.

“This investment will allow us to focus on three core elements paramount to our continuing success as a U.K. manufacturing business, being new product development, the implementation of new build technologies and the support of further growth in burgeoning overseas markets,” Fairline CEO Derek Carter said in a statement:

Related

FUTURE-ANGLERS

FAF Brings New Anglers into the Fold

The nonprofit organization will leverage Giving Tuesday on Nov. 29 to raise funds for its grassroots fishing and boating participation efforts.

1_NAOS.YACHTS.EXPANDS

Naos Yachts Plans New Offices

The San Francisco Bay area location will expand the dealer’s midcoast footprint and help grow its Groupe Beneteau, Lagoon, Neel, CNB Yachts, Four Winns and Wellcraft brands.

1_THANKSGIVING

Trade Only Today Returns Monday

The e-newsletter will not publish Thursday, Nov. 24, and Friday, Nov. 25, in observance of the Thanksgiving holiday.

CORRECT-CRAFT-ORPHANAGE

Correct Craft Gives Back

Employees spent a day serving at the Florida United Methodist Children’s Home, impacting more than 500 kids in need.

1_GH.ELECTRIC.HOIST

GH Motion Launches All-Electric Lift

The GH70e mobile boat lift is powered by a modular solar/battery system and has a 65-ton capacity.

1_PULSE.PING

Dealers: Are You in Compliance?

A new FTC Safeguards Rule designed to protect consumers’ personal information goes into effect Dec. 9 — are you prepared?

1_NMMA-CANADA

NMMA Canada President Steps Down

NMMA Canada president Sara Anghel is leaving the recreational boating trade group after nearly 15 years of service.

1_DEALER.OUTLOOK

Ohio Ordered To Get Serious About Algae

Many are applauding a judge’s proposed consent decree that will serve as a roadmap to address western Lake Erie’s chronic algal blooms.