The yacht builders have been acquired by two Russian investors and will continue to operate from Oundle.

Assets of Fairline Boats have been bought out of administration for an undisclosed sum by UK-based Alexander Volov and Igor Glyanenko, two Russian investors with marine, IT, media, technology experience and a passion for boats.

The new company has been renamed Fairline Yachts and will be overseen by Managing Director Russell Currie.

With nearly 30 years directly relevant experience, Currie has a very strong background in the luxury motor yacht industry. A Fairline dealer since 1998, Russell is CEO of Fairline North Mallorca, where he has achieved over £90million of sales. Prior to his role at Fairline North Mallorca, Russell was Engineering Director at Sunseeker International’s factory team based at Mallorca, and was Chief Test Engineer at Princess Yachts International before that. The appointment of Russell ensures continuity of senior management at Fairline Yachts and safeguards close customer and boat dealer relations under the new ownership structure.

“I am delighted to have been appointed Managing Director for Fairline Yachts.”, said Russell Currie. “With the resources of the investors, coupled with the expert knowledge of the management team and our energy and passion for the brand, the structure is in place for a great future for Fairline Yachts. We will focus on creating high quality luxury motor yachts that boaters will want to own and dealers will want to sell.

“As a sign of our commitment to Fairline Yachts’ loyal customer base and dealer network, we will be completing all orders for boats received by Fairline Boats, including those that have not yet started being built as well as those that are already in production.”

Failine Yachts will keep its base in Oundle, Northamptonshire, where its manufacturing facilities are located. The company has invited former employees to apply for the 100 jobs that will be immediately available.