Hanover Investors has announced it has sold its interest in Fairline Yachts to Arrowbolt Propulsion Systems.
Arrowbolt is appointing Peter Hamlyn, former operations director of Fairline from December 2018 to January 2021, as CEO of Fairline. Hanover acquired Fairline in June 2021 via Hanover Active Equity Fund II.
According to the United Kingdom Companies House records, Arrowbolt Propulsion Systems now holds 75 percent or more of the ownership of shares for Fairline Yachts.
Hamlyn says: “We look forward to aligning the business with our long-term vision to be a clean and sustainable marine brand. However, to be clear, the industry faces a number of economic and market challenges, and we will be assessing the current business before making any strategic long-term investment decisions.”
Arrowbolt describes itself as a clean propulsion company and in a statement issued by Hanover Investors it states Arrowbolt was founded in 2022. Companies House, however, shows Arrowbolt Propulsion Ltd to be incorporated on 3 December 2024.
Zeyaad Ahmed is listed as the director of Arrowbolt, and is also listed as the director of Fletcher Boats.
Founded in 1967 in Oundle, Northamptonshire, British luxury boatbuilder Fairline Yachts now has a global business with a network of more than 50 dealers in key yachting locations around the world.
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