Fairline bought by Russian investors.

  Local dealership positive about new owners for UK luxury boat builder.

The long-established British-based boat builder, Fairline Boats, which went into administration late last year, has been bought by two UK-based Russian investors.

The Guardian newspaper reports that the new owners are Alexander Volov and Igor Glyanenko, UK-based businessmen with a background in media. A statement released by the new company, Fairline Yachts, said the new owners are both passionate boat owners and “highly experienced in managing and developing marine businesses and in the production of high technology products, IT and media services”.

Evan Moore, director with Fairline Australia, the local importer of Fairline boats, welcomed the news for the buy-out which will see the company trim its workforce to about 100 staff initially and focus production at its Oundle plant in Northhamptonshire.

“Fairline has a very loyal following of customers who just love the brand,” he said.

Even while the company was in administration in the UK, Moore said Fairline Australia had delivered a new Squadron 78 to a client just before Christmas and had prospective customers waiting to place orders.

“With new product in the market, we’re confident of moving forward,” he said.

In addition to offices in Perth and Sydney, Fairline Australia has dealers in Victoria with Premier Yachting and in Queensland through Leigh-Smith Yachts at Sanctuary Cove.

In the UK, Russell Currie (pictured), a veteran of the luxury motor yacht industry, has been appointed as the new managing director of Fairline Yachts.

A Fairline dealer since 1998, Currie is CEO of Fairline North Mallorca, where he has achieved over £90million of sales, and was previously engineering director at Sunseeker International’s factory team based at Mallorca, and chief test engineer at Princess Yachts International.

“I am delighted to have been appointed managing director for Fairline Yachts,” said Currie. “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.”

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