Fairline Yachts

This article is about the boat manufacturer. For the defunct airline, see Fairline.

Fairline Yachts Ltd.
PredecessorFairline Boats
FounderJack Newington
HeadquartersOundle, United Kingdom
ParentHanover Investors, UK

Fairline Yachts is a British manufacturer of luxury motor yachts. Started in 1963 by Jack Newington, the company builds motor yachts in Oundle, Northamptonshire.[1] Hanover Investors, a UK based private equity company owns the brand.

Range

Fairline Yachts's range includes the following models:

  • Squadron – first launched in 1990 with the Squadron 62, a large yacht range. From 42 feet (13 metres) to 78 ft (24 m)
  • Targa – first launched in 1985, a series of sports style boats. From 38 ft (12 m) to 62 ft (19 m), the range is topped by the Gran Turismo models, first launched in 2003
  • F//LINE – First launched in, 2019, a 33 ft (10 m) dayboat, inspired by the look of classic cars from the 1960s
  • Phantom – First launched in 2022, a 65 ft (19.96 m) yacht, inspired by the design of the Targa 65[2]

History

Fairline Yachts Squadron 68

Newington family

The company started when Newington bought a series of gravel pits on the River Nene and built the Oundle Marina. In 1967 he launched the first Fairline boat, a 19 feet (5.8 m) handcrafted glass-reinforced plastic river cruiser.[3] When Newington's son Sam, a former Royal Air Force pilot and Columbia University MBA graduate, took over in 1971, the company employed fourteen people. Sam expanded the company's sales network overseas to take advantage of the expanding Mediterranean market place – by 1979 the company employed 140 people and turned over £5 million, with production expanded by the success of 1977's Fairline 40 model.[3]

Fairline Yachts Targa 45 GT

The company expanded in the 1980s developing lines of high speed cruising yachts. In 1986, Fairline was awarded the Queen's Award for Enterprise: International Trade. When Sam retired in 1996, the company expanded further by establishing Fairline Boats of North America Inc., creating a network of 35 dealers.[3] In 2002 the 10,000th Fairline was completed, together with new production facilities at the original Oundle site. By 2010, the 12,000th Fairline was completed, a Squadron 55 shipped to a client in Italy. The Fairline Owners Club was founded in 2003.[4] On 20 June 2017 it was announced that Sam Newington had died peacefully at home at the age of 82.[5]

Venture investment: 2006–2015

In 2006 the company was purchased by 3i.[3] The company launched the Fairline Targa 38 in 2006, which won the European Powerboat of the Year in the 30 ft (9.1 m) to 40 ft (12 m) category in 2007.[6] Fairline Boats was purchased by Better Capital and RBS in July 2011.[7] On 29 September 2015, Fairline Boats was bought by Wessex Bristol owned by Ayiaz Ahmed.[8]

Administration

Having suffered a series of trading difficulties since the 2008 global recession, in December 2015 Fairline Boats entered administration. In January 2016, Alexander Volov and Igor Glyanenko, UK-based Russian businessmen, purchased the assets of Fairline Boats and formed Fairline Yachts Ltd. They announced a reduction in the workforce from the previous 466 to "around 100".[9]

Fairline Yachts Ltd

Since 2016, the reorganized Fairline Yachts has announced a series of new models of both its Squadron and Targa lines, as well as the introduction of the dayboat series, F//LINE and Phantom.[10][11][12][13][14]

In 2020, RiverRock European Opportunities Fund II announced it had purchased a majority stake in the company.[15]

In 2021, the private equity firm Hanover Investors acquired Fairline Yachts Ltd.[16][17]

In December 2024 Hanover Investors sold their stake in Fairline Yachts to Arrowbolt Propulsion Systems[18] which was formed two days prior to the sale.[19][20]

See also

References

  1. ^ "FBL REALISATIONS LIMITED – Overview (free company information from Companies House)". Beta.companieshouse.gov.uk. Archived from the original on 8 December 2015. Retrieved 27 January 2016.
  2. ^ Draper, Phil (8 August 2022). "Fairline Phantom 65: British yard reveals more details ahead of Cannes launch". Motor Boat & Yachting. Archived from the original on 25 August 2022. Retrieved 25 August 2022.
  3. ^ a b c d "Luxury Motor Yachts". Fairline.com. 2 December 2015. Archived from the original on 15 September 2007. Retrieved 27 January 2016.
  4. ^ "The Fairline Owners Club". Archived from the original on 13 June 2007. Retrieved 12 November 2018.
  5. ^ Hugo Andreae (28 June 2017). "Fairline luminary Sam Newington dies". mby.com. Archived from the original on 4 January 2018. Retrieved 4 January 2018.
  6. ^ "Boat Buyers Guides". Rightboat.com. Archived from the original on 16 December 2013. Retrieved 27 January 2016.
  7. ^ Nick Burnham (12 July 2011). "Fairline is bought by Better Capital Limited and RBS – Motor Boat & Yachting". Motorboatsmonthly.co.uk. Archived from the original on 29 April 2024. Retrieved 27 January 2016.
  8. ^ https://www.linkedin.com/in/ayiaz-ahmed-234a516/ [self-published source]
  9. ^ Rob Davies (1 January 1970). "Fairline Boats former staff 'queuing at gates' to work after Russian takeover | Business". The Guardian. Archived from the original on 2 February 2017. Retrieved 27 January 2016.
  10. ^ YBW (21 September 2017). "Sleek and sporty: First look at the new F-Line Fairline 33". YBW. Archived from the original on 30 July 2021. Retrieved 30 July 2021.
  11. ^ Peter Nash (7 July 2017). "Fairline's Targa 63 GTO: Cannes launch". Marine Industry News. Archived from the original on 10 February 2021. Retrieved 20 November 2020.
  12. ^ Stef Bottinelli (17 September 2018). "Cannes Boat Show 2018: Newly launched Fairline Yachts' Targa 43 OPEN wins at World Yachts Trophies 2018". Yachting and Boating World. Archived from the original on 8 August 2020. Retrieved 24 June 2020.
  13. ^ Risa Merl (7 April 2020). "Fairline's New Flagship Squadron 68 Holds Global Appeal". Luxuo. Retrieved 20 November 2020.
  14. ^ Zak Hillard (31 August 2019). "Fairline celebrates launch of F//Line 33 in style". Yachts and Yachting. Archived from the original on 29 April 2024. Retrieved 20 November 2020. {{cite web}}: External link in |title= (help)
  15. ^ Haynes, Reagan. "Fairline Yachts Under New Ownership". Trade Only Today. Archived from the original on 6 September 2022. Retrieved 6 September 2022.
  16. ^ Moser, Jeff. "Fairline Yachts Acquired". Trade Only Today. Archived from the original on 6 September 2022. Retrieved 6 September 2022.
  17. ^ "Oundle-based luxury yacht company cuts commercial ties with Russia". 17 March 2022. ISSN 0307-1235. Archived from the original on 6 September 2022. Retrieved 6 September 2022.
  18. ^ https://find-and-update.company-information.service.gov.uk/company/16115139
  19. ^ https://www.bbc.com/news/articles/c3rqvjn25w2o
  20. ^ https://www.superyachttimes.com/yacht-news/fairline-yachts-acquisition-arrowbolt-propulsion-systems