With more CEOs than some have had hot dinners Fairline Boats the Oundle, based motor yacht buildereEstablished in 1967 has acquired its sixth new Captain in as many years.
Ayiaz Ahmed the CEO of the boat brands new owner, Wessex Bristol will be stepping in as CEO replacing Kevin Dady who will depart immediately to continue his role as operating partner at Better Capital.
Better Capital’s 2009 Fund and West Register Investments Limited had purchased the troubled yacht builder from 3i in July 2011.
Together they struggled to turn around the loss making firm and have for some time now been seeking to off load it from their business portfolio
For Wessex Bristol, the acquisition of Fairline is in line with its strategy to invest in luxury brands and to grow its presence in the luxury boating industry.
The group already owns and operates a portfolio of exclusive brands in the luxury sector including Fletcher, a UK-based luxury sports boat manufacturer.
Ayiaz Ahmed, the new CEO said: “We are excited to be adding Fairline to our brand portfolio, building on our successes in the luxury boat market with our iconic Fletcher brand.”
Fairline, which has manufacturing bases in Oundle and Corby in Northamptonshire, designs, engineers, manufactures and distributes motorboats in the range of 38 to 80 feet.
The company launched its new Targa 53GT model at the recent Southampton Boat Show.