Fairline Yachts acquired by Hanover Investors
LONDON, UK - JUNE 14, 2021
Luxury international motor yacht builder Fairline Yachts is being acquired by Hanover Investors, as the company seeks to capitalise on the buoyant global market, it has been announced today.
Matthew Peacock, Founder and CEO of Hanover Investors said: “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.”
Since 1967 Fairline has built a reputation, and beautiful yachts, based on an enduring foundation of expert craftsmanship, luxury and performance. It has developed from humble beginnings in Oundle, Northamptonshire, UK, to worldwide recognition and a global network of more than 50 dealers.
Peter McNulty, Chief Executive Officer of Fairline Yachts, said: “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.”
While there have been significant economic headwinds globally because of the pandemic, the luxury yacht sector is one that is booming.
Jason Carley, Senior Partner of Hanover Investors, was previously chairman of Fairline Yachts. “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.”
Fairline Yachts has been acquired for an undisclosed sum via Hanover Active Equity Fund II.
About Fairline Yachts
Founded in 1967 in Oundle, Northamptonshire, with British craftsmanship at its core, Fairline Yachts encompasses power, performance and comfort.
A global business with a network of more than 50 authorised dealers in key yachting locations around the world, Fairline designs and manufactures three ranges of luxury motoryachts:
The Squadron range, which features a spacious flybridge and is available from 50 feet (15 metres) to 68 feet (21 metres). The Targa range, a line of modern express cruisers, available from 45 feet (13 metres) to 65 feet (19 metres), in either GT (Gran Turismo) or OPEN versions. The thrilling F//LINE series, a performance orientated 33 foot (10 metre) day boat with either inboard or outboard engines.
About Hanover Investors
Hanover Investors is a specialist investor that operates in under-analysed and illiquid markets.
We combine analytical rigour and flexibility in execution which allows for a repeatable model of successful investment selection. A deep understanding of a company's operational and strategic context is at the centre of our investment process, refined over decades of hands-on management of small to mid-size organisations. We influence the main levers of value creation of an investment, providing our portfolio with access to proven “playbooks” and a Hanover bench of specialists.
This approach has delivered a market leading record of returns for over 20 years.
For press enquiries please contact:
Investor Relations team: ir@hanoverinv.com