Marine Link
Sunday, December 11, 2016

Russians to Acquire Fairline Boats

January 26, 2016

Photo: Fairline Boats Limited

Photo: Fairline Boats Limited

 Crisis-hit yacht manufacturer Fairline Boats has been saved after the firm was bought by two Russian investors. 

 
A new company, Fairline Acquisitions, funded by two UK-based Russian investors with a background in the marine sector, is to take on the failed company’s order book and initially plans to recruit around 100 of the 380 staff who were made redundant before Christmas.
 
It will be run by Russell Currie, who has been a Fairline dealer for 18 years where he has made sales of more than £90 million.
 
Currie said: “I am delighted to have been appointed managing director for Fairline Yachts. With the resources of the investors, coupled with the expert knowledge of the management team and our energy and passion for the brand, the structure is in place for a great future for Fairline Yachts.
 
“We will focus on creating high quality luxury motor yachts that boaters will want to own and dealers will want to sell," he added. 
 
Fairline Acquisitions will take responsibility for finishing and completing any outstanding boats orders and expects to resume production after completing an assessment of the range of boat models.
 
Little is known about the Russian buyers, though they are thought to be Alexander Volov and Igor Glyanenko, who are both listed as shareholders in Fairline Acquisitions, which was registered with Companies House on January 6. Also listed as a director of the new company is Karl Gilding, a former Fairline boss left to work for rival Sunseeker two years ago.
 
The Russian pair are said to be UK-based and long-term investors with experience in marine business. They are thought to have previously held the sales rights for a rival motoryacht company in their home nation.
 
Failine Yachts will keep its base in Oundle, Northamptonshire, where its manufacturing facilities are located.  
 


 
Maritime Reporter Magazine Cover Nov 2016 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News