Fairline Yachts is purchased by European investment fund

United Kingdom
6th July 2020

Fairline Yachts is purchased by European investment fund

RiverRock European Opportunities Fund II has acquired the majority stake in UK boatbuilder Fairline Yachts.

RiverRock has been a partner of Fairline for the last 11 months, after the introduction of a £15m cash facility that was agreed in August 2019. At the time it was stated that this capital investment would be used to accelerate Fairline’s exciting product development agenda.

The recent capital investment programme is aimed at securing the financial future of the business following the coronavirus pandemic.

Igor Glyanenko and Alexander Volov, the two Russian investors who bought Fairline Boat’s assets in January 2016 after the company collapsed, will maintain a financial interest in Fairline Yachts, and Fairline’s statement says that Glyanenko and Volov welcome the investment from RiverRock. The businessmen will now focus on their core businesses which have been substantially impacted by both the Covid-19 pandemic and the oil price drop of recent months.

Fairline, with its HQ in Oundle, recently announced it would be making more than 50% of its workforce redundant due to the downturn caused by the coronavirus pandemic, but the investment will allow the boatbuilder to continue its product development programme.

Fairline COO Peter McNulty commented:

Fairline COO
Fairline COO Peter McNulty

RiverRock has offices in London, Paris, Milan and Madrid, and is looking forward to the future with Fairline.

Jason Carley, senior portfolio manager at RiverRock, adds:

About Fairline Yachts About RiverRock


No comment yet.

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertise with M&M 
Follow us

To stay up-to-date with Marine & Maritime Opportunities, follow us on social media.