Luxury boatbuilder sold via equity fund
Fairline Yachts has been acquired by Hanover Investors for an undisclosed sum.
The boatbuilder, which recently appointed a new UK dealer, has been acquired for an undisclosed sum via Hanover Active Equity Fund II from Hanover Investors.
Fairline Yachts was founded in 1967, in Oundle, Northamptonshire, and has spent the last 50 years expanding worldwide, with a global network of over 50 dealers.
Peter McNulty, CEO of Fairline Yachts, sees the acquisition as a chance to forge ahead with the company’s international footprint.
“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.
“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.”
Peter McNulty – CEO of Fairline Yachts
Jason Carley, senior partner of Hanover Investors, was a board member at Fairline Yachts for nine months until March 2021. He was also senior portfolio manager at RiverRock that took a majority stake in the boatbuilder in 2020.
“It is great to be back on board with Fairline. I know from my previous involvement with the company how much potential it has.
“It has a very strong order book, an exciting product range and the factory is very busy. We are going to back the management team and the company as a whole to unlock the value within it and to catalyse its growth.”
Jason Carley – Senior Partner of Hanover Investors
Matthew Peacock, founder and CEO of Hanover Investors, believes the sale will initiate further growth for the boatbuilder.
“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.”
Matthew Peacock – Founder and CEO of Hanover Investors