Fairline Yachts Acquired by Investment Group
Fairline Yachts, which is based in the United Kingdom, has been acquired by the British private-equity group, Hanover Investors, through the Hanover Active Equity Fund II. Details of the purchase have not been disclosed. Hanover acquired Fairline from RiverRock, another investment fund that had control of the yacht manufacturer since July of last year, according to International Boating Industry.
More than 50 Years of History
“We are delighted to welcome Fairline into our family of portfolio companies,” Matthew Peacock, founder and CEO of Hanover Investors said in a statement. “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 realize its full potential.”
Fairline was founded in 1967 in Oundle, Northamptonshire, England and today the company has a global network of more than 50 dealers. The company builds three series of boats including Targa express cruisers, Squadron flying bridge yacht and the F//Line ranging from 33’ (10.06 m) to 68’ (20.73 m).
Renewed Alliance
“It is a testament to the hard work of the team here at Fairline, that a firm with the caliber of Hanover Investors has decided to back us,” Peter McNulty, Fairline CEO, said. “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 internationalizing companies.”
Jason Carley, senior partner of Hanover Investors, previously was the chairman of Fairline Yachts. “I know from my previous involvement with the company how much potential it has,” he 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 and the company as whole to unlock the value within it and to catalyze its growth.”
