fairline yachts acquired

Fairline Yachts acquired by Hanover Investors

LONDON, UK - JUNE 14, 2021

Luxury international motor yacht builder Fairline Yachts is being acquired by Hanover Investors, as the company seeks to capitalise on the buoyant global market, it has been announced today.

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, UK, 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.”

While there have been significant economic headwinds globally because of the pandemic, the luxury yacht sector is one that is booming.

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.”

Fairline Yachts has been acquired for an undisclosed sum via Hanover Active Equity Fund II.

About Fairline Yachts

Founded in 1967 in Oundle, Northamptonshire, with British craftsmanship at its core, Fairline Yachts encompasses power, performance and comfort.

A global business with a network of more than 50 authorised dealers in key yachting locations around the world, Fairline designs and manufactures three ranges of luxury motoryachts:

The Squadron range, which features a spacious flybridge and is available from 50 feet (15 metres) to 68 feet (21 metres). The Targa range, a line of modern express cruisers, available from 45 feet (13 metres) to 65 feet (19 metres), in either GT (Gran Turismo) or OPEN versions. The thrilling F//LINE series, a performance orientated 33 foot (10 metre) day boat with either inboard or outboard engines.

https://fairline.com/

About Hanover Investors

Hanover Investors is a specialist investor that operates in under-analysed and illiquid markets. 

We combine analytical rigour and flexibility in execution which allows for a repeatable model of successful investment selection. A deep understanding of a company's operational and strategic context is at the centre of our investment process, refined over decades of hands-on management of small to mid-size organisations. We influence the main levers of value creation of an investment, providing our portfolio with access to proven “playbooks” and a Hanover bench of specialists. 

This approach has delivered a market leading record of returns for over 20 years. 

For press enquiries please contact:

Investor Relations team: [email protected]

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Fairline Yachts shipyard changes ownership again

British yacht builder Fairline Yachts is being acquired again, less than a year after the last deal. The new owner wants to accelerate the internationalization of its sales of high-end motorboats.

Hanover Investors acquires Fairline Yachts

Fairline Yachts changed ownership on June 14, 2021. Less than a year after it took over as majority shareholder of the British shipyard in July 2020, the RiverRock fund sold its stake to London-based investment fund Hanover Investors. The amount of the transaction has not been made public. It thus takes control of the high-end motorboat manufacturer founded in 1967 in Oundle, Northampshire. It has a worldwide network of 50 dealers.

Accelerating the internationalization of the British shipyard

Fairline Yachts managing director Peter McNulty welcomes the arrival of the new shareholder, which he sees as recognition of the value of the British yachting business. On this occasion, Jason Carley, a partner in the Hanover Investors fund and previously a member of Fairline Yachts' management between July 2020 and March 2021, returns to the shipyard's side. "It's a recognition of the great work done by the team here at Fairline that a company of the caliber of Hanover Investors has decided to support us. They have an excellent track record of working with companies through their global vision to integrate both investment and operations, with a particular focus on companies that are in the process of internationalizing. While we have a strong international footprint, with Hanover on board, I know we can go much further and faster," said Peter McNulty.

Fairline Yachts acquired by Hanover Investors

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Fairline Yachts acquired

• June 16, 2021

British builder Fairline Yachts has been acquired by Hanover Investors.

Fairline Yachts is being acquired by Hanover Investors, a London-based private equity investor founded in 2002.

“We are delighted to welcome Fairline into our family of portfolio companies,” said Matthew Peacock, founder and CEO of Hanover Investors. “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.”

Jason Carley, who joined Hanover Investors in March as Senior Partner , provides a strong connection to Fairline, having formerly been Chairman of the luxury yacht builder. He was formerly at RiverRock, which was announced as increasing its investment in Fairline in July 2020.

“It is great to be back on board with Fairline. I know from my previous involvement with the company how much potential it has,” Carley said . “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.”

Fairline was founded in Oundle, Northamptonshire, in 1967 and has a global network of more than 50 dealers including Simpson Marine in Asia. The builder has been acquired for an undisclosed sum via Hanover Active Equity Fund II.

Peter McNulty, CEO 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.” www.fairline.com

Fairline Targa 45 GT sold into China LOne of the British builder’s newest models, a Targa 45 GT has been sold into Shanghai by regional dealer Simpson Marine.

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By SuperyachtNews 06 Jul 2020

RiverRock acquires a majority stake in Fairline Yachts

Riverrock european opportunities fund ii has acquired a majority stake in the british yacht manufacturer….

Following a successful partnership over the past 11 months, RiverRock has underlined its ongoing support for Fairline Yachts by committing to a significant capital investment programme that secures the boat builder’s financial future following the turbulence created by the COVID-19 global pandemic. Alexander Volov and Igor Glyanenko, who bought Fairline Yachts’ assets in 2016, apparently welcome the investment from RiverRock and, while maintaining a financial interest in the shipyard, will be focussing on their core businesses, which have been substantially impacted by both the COVID-19 pandemic and the oil price shock of recent months.

“By taking a majority stake in the business, RiverRock is demonstrating its continued support and confidence in Fairline,” comments Peter McNulty, COO of Fairline Yachts. “The investment secures our financial future and ensures we can continue the roll-out of our long-term strategic plan for the brand.

“As announced previously, the company has made some tough decisions to right-size the business as a result of the current extremely challenging market conditions. This has better positioned the company and aligns it more closely with our strategic plans both in terms of product and regional growth. The new investment from RiverRock provides us with the capital and execution ability we needed to fulfil these long-term growth plans. The coronavirus pandemic has put additional pressure on all businesses and RiverRock’s investment means we can continue with our exciting and highly innovative new product development programme.”

“We are pleased to take the next step on our partnership journey with Fairline Yachts. We firmly believe in the team at the help and the strength of the brand. We appreciate Alex and Igor’s significant investment over the last four years and our additional investment will now support Fairline to grow and will enable the company to keep doing what it does best – building exquisitely designed, handcrafted boats made in Great Britain,” comments Jason Carley, senior portfolio manager at RiverRock.

While Fairline Yachts does not operate within the superyacht market, with its largest project to date being 25m, it has nonetheless played an important role in the superyacht customer journey since its conception in 1963. As the superyacht industry matures, it is increasingly appreciating the vital role that the various feeder markets play in its own success. Typically, an individual’s wealth profile grows and evolves over time, few people simply wake up one day extremely wealthy. Shipyards like Fairline do much to introduce people to the yachting market and, crucially, help them to stay in the yachting market by allowing them to grow through the various size ranges.

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Fairline Yachts Under New Ownership

• Posted 07-07-2020
• Worldwide  
• Industry  

RiverRock European Opportunities Fund II has acquired a majority stake in British yacht manufacturer Fairline Yachts.

Following a partnership over the past 11 months that Fairline deemed successful, RiverRock has committed to a significant capital investment program that secures the boatbuilder’s financial future after the turbulence created by the global coronavirus pandemic.

“By taking a majority stake in the business, RiverRock is demonstrating its continued support and confidence in Fairline,” said Fairline Yachts COO Peter McNulty in a  statement . “The investment secures our financial future and ensures we can continue the roll-out of our long-term strategic plan for the brand.”

The previous investors, Alexander Volov and Igor Glyanenko,  acquired Fairline  in 2016, and have maintained an investment in the company, but have shifted focus in recent months on their other core business that have been substantially impacted by both the covid-19 pandemic and the oil price shock of recent months, according to the company.

Prior to that acquisition in 2015, Fairline went into administration, the British equivalent of U.S. bankruptcy, just months after it was sold by Jon Moulton’s private equity house Better Capital to fellow buyout house Wessex Bristol, according to  The Guardian .

“As announced previously, the company has made some tough decisions to right-size the business as a result of the current extremely challenging market conditions,” said McNulty. “This has better positioned the company and aligns it more closely with our strategic plans both in terms of product and regional growth. The new investment from RiverRock provides us with the capital and execution ability we needed to fulfill these long-term growth plans.”

“The coronavirus pandemic has put additional pressure on all businesses and RiverRock’s investment means we can continue our exciting and highly innovative new product development program, which is critical for the sustained growth of the business and to meet our discerning buyers’ requirements,” added McNulty.

RiverRock is confident with the leadership at Fairline, as well as the strength of the brand, said RiverRock senior portfolio manager Jason Carley.

“We are pleased to take the next step on our partnership journey with Fairline Yachts. We firmly believe in the team at the helm and the strength of the brand. We appreciate Alex and Igor’s significant investment over the last four years and our additional investment will now support Fairline to grow and will enable the company to keep doing what it does best — building exquisitely designed, hand crafted boats made in Great Britain.”

Article Author: Reagan Haynes

Article URL: https://www.tradeonlytoday.com/manufacturers/fairline-yachts-under-new-ownership

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New investors acquire Fairline Yachts

Tuesday, June 15th, 2021

Written by: Marine Industry News

Failine Yachts, which recently appointed a new UK dealer , is being acquired by Hanover Investors.

The company has been acquired for an undisclosed sum via Hanover Active Equity Fund II.

“We are delighted to welcome Fairline into our family of portfolio companies,” says Matthew Peacock, founder and CEO of Hanover Investors. “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.”

Fairline Yachts was founded in 1967, in Oundle, Northamptonshire, UK, and has spent the last 50 years expanding worldwide, with a global network of over 50 dealers.

Peter McNulty, CEO of Fairline Yachts, adds: “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.”

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