 Fairline makes luxury motor yachts at Oundle and Corby |
Luxury motor yacht manufacturer Fairline has been sold to six of its managers in a deal worth about �40m. The company, which employs 1,100 people at its Northants bases in Oundle and Corby, sells most of its boats abroad.
The deal with The Renwick Group, backed by Europe's leading private equity company 3i, was completed on Tuesday.
Chief executive officer Derek Carter said Fairline would continue to design and manufacture leading luxury boats thanks to its highly skilled workforce.
"Around 95% of the 300 or so boats we sell each year are exported and we are committed to seek new markets and grow Fairline into a prestige global brand," he said.
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