Fairline Boats administrators

British boat-builder Fairline Boats has been rescued from administration by two UK-based Russian investors for an undisclosed sum.

Fairline Boats will be a new company called Fairline Yachts, and the unnamed investors are noted for their experience “in managing and developing marine businesses and in the production of high technology products, IT and media services”.

Both are also passionate boat owners.

New Fairline Yachts managing director Russell Currie brings nearly 30 years’ experience in the luxury motor yacht industry to the group, including as CEO of Fairline North Mallorca, Spain, engineering director for Sunseeker International’s factory team, also in Mallorca, and was chief test engineer for Princess Yachts International.

“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,” Currie said.

“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.”