The Joint Administrators of Fairline Yachts Limited have secured funding for the business and are seeking a buyer to take the iconic brand forward.
The additional funding, provided by its existing specialist lender DF Capital, will enable the business to continue the production and sale of its yachts for customers worldwide and retain its 250 employees.
Founded in 1967, Fairline Yachts has built a reputation for crafting best-in-class yachts for its customers, with whom it has established long-term relationships. The company has four yacht ranges, from 33 ft to 68 ft models, which are sold globally both directly and via local dealerships. Fairline’s expert team of 250, based across two sites in Oundle and Suffolk, include highly skilled craftsmen with deep experience in the industry.
The luxury yacht manufacturer entered administration in January, just two months after its acquisition by Arrowbolt Propulsion Systems Limited. The Administrators are now encouraging any interested parties to contact them to discuss the opportunity to acquire one of the yacht industry’s most recognisable brands.
Michael Magnay, Joint Administrator to Fairline Yachts, said: “Fairline Yachts is an iconic brand with a committed and passionate team of experts who have established deep relationships with dealers and end customers over many years. The business is known throughout the world for the quality of its craftsmanship and the innovative design of its yachts. We expect that it could have broad appeal, to international investors as well as domestic. We encourage interested parties to make contact with us to discuss the opportunity to acquire this exciting business.”
Interested parties are to contact Gquinn@alvarezandmarsal.com.
