Fairline Yachts is to accelerate its product development after securing a £15m cash injection.
The capital investment has been secured in partnership with RiverRock European Opportunities Fund and is intended to help the boatbuilder to build on its expansion plans which include more than 80 yachts built and a circa £50m turnover.
“Demonstrating its support and confidence in Fairline, we very much welcome the investment from RiverRock, which is in-line with our long-term plan for the brand,” said Fairline Yachts CEO, David Tydeman. “The funds will help add pace to our innovative product development programme which is critical for the sustained growth of the business and to meet our discerning buyers’ requirements.
“Customer belief in our brand is strong and with this additional investment we are in a robust position to continue delivering on our ambitious growth plans.”
Jason Carley, portfolio manager of the European Opportunities Fund at RiverRock, added: “We are very excited to work with the management team and shareholders to fund the next stage of Fairline’s development.