Fairline’s future secured
The future of one of the best-loved British-based boat builders, Fairline Boats, has been secured today, thanks to a deal that sees assets of Fairline Boats bought out of administration for an undisclosed sum.
By ADPR with Luxury News Online
The new company, Fairline Yachts, is funded by two long term UK-based Russian investors, who are both highly experienced in managing and developing marine businesses and in the production of high technology products, IT and media services. Both are also passionate boat owners.
Russell Currie has been appointed as Managing Director to lead the new business. With nearly 30 years directly relevant experience, Russell has a very strong background in the luxury motor yacht industry. A Fairline dealer since 1998, Russell is CEO of Fairline North Mallorca, where he has achieved over £90million of sales. Prior to his role at Fairline North Mallorca, Russell was Engineering Director at Sunseeker International’s factory team based at Mallorca, and was Chief Test Engineer at Princess Yachts International before that. The appointment of Russell ensures continuity of senior management at Fairline Yachts and safeguards close customer and boat dealer relations under the new ownership structure.
Russell says, “I am delighted to have been appointed Managing Director for Fairline Yachts. With the resources of the investors, coupled with the expert knowledge of the management team and our energy and passion for the brand, the structure is in place for a great future for Fairline Yachts. We will focus on creating high quality luxury motor yachts that boaters will want to own and dealers will want to sell.
“As a sign of our commitment to Fairline Yachts’ loyal customer base and dealer network, we will be completing all orders for boats received by Fairline Boats, including those that have not yet started being built as well as those that are already in production.”
The newly formed company will operate from its manufacturing facilities in Oundle, Northamptonshire. To ensure continuation of production of the boats, the company invites previous employees to apply for the c.100 jobs that will be immediately available.
Fairline is a global brand, soon to be celebrating its 50th anniversary. The company specialises in the design, engineering, manufacture and distribution of luxury boats in the 38 to 80 feet range. For more information about Fairline, please visit:www.fairline.com.
James W Phillips
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