Marine News – January 2016

Two Russian investors have bought the motor yacht builder Fairline out of administration for £4.5m in a deal that will keep production in the UK. Officially, Fairline was sold to Fairline Acquisitions, but people familiar with the sale said the company is controlled by Alexander Volov and Igor Glyanenko, based in the UK.

They plan to continue operating Fairline from Oundle in the East Midlands, saving 100 jobs from the 450 that were spread across three sites before its administration.

“The sale to Fairline Acquisitions offers the best possible outcome,” said Alastair Massey of FRP Advisory, which ran the administration process.