Fairline Boats set to be bought by Russian investors

Motorboat & Yachting: Two Russian investors look to become newest owners of Fairline Boats and plan to keep production in Britain.

Fairline Boats looks set to sold to Russian investors Alexander Volov and Igor Glyanenko in a deal that is due to be announced later this week at the Dusseldorf Boat Show.The Russian businessmen have made an offer to buy the company for a fee of £4million.

Former Fairline head of yacht sales, Karl Gilding has been named as Director of Fairline Acquisitions Ltd, however he stressed this is a temporary measure to facilitate the sale.“We have made the offer, we have paid a deposit, but until such time as the cheque is paid the company isn’t ours”.

The investors will take responsibility for finishing all remaining uncompleted boats, and they plan to resume production before analysing the state of Fairline’s model range to decide whether it needs to change or not.

Administrators FRP Advisory refused to confirm the deal, despite their deadline for offers passing last Friday.

Primary UK dealer Bates Wharf plans to relaunch the Fairline brand at the British Motor Yacht Show in May.

See article at Motorboat & Yachting

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