The UK-based yard Fairline Yachts has been sold to the private equity investment group, Hanover Investors, for an undisclosed sum.
Hanover bought Fairline from RiverRock, another investment fund, who acquired a majority stake in the yacht builder in July 2020.
Hanover Investors pointed to the buoyant luxury yacht market and the heritage of the Fairline brand as being the reasons behind the purchase, with Matthew Peacock, founder and CEO of Hanover Investors, saying: “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.”
“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,” added Fairline CEO Peter McNulty. ”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.”
With Hanover by our side, I know we can go a lot further and faster.”
CEO
Fairline
Founded in 1967, Fairline has played a crucial role in the history of British boatbuilding ever since, establishing a reputation for high-quality and stylish yachts. It now operates across two production facilities and employs around 250 members of staff.
It’s Targa sports yachts have become particularly iconic, and both the Targa 65 GT and the Targa 45 Open are currently being showcased at the British Motor Yacht Show. To take a closer look at its wide range of models, view all Fairline yachts for sale.
Alternatively, to expand your selection even further used YachtBuyer’s advanced search filters to view all new and pre-owned yachts for sale.
