Yacht builder Fairline Boats has been bought out of administration by Russian investors in a deal thought to be worth about £4.5m, the Telegraph reports. The Northamptonshire-based company collapsed in December, just two months after Jon Moulton's Better Capital sold Fairline to fellow private equity investor Wessex Bristol.
The new company, Fairline Yachts, is funded by two long-term UK-based Russian investors, thought to be Alexander Volov and Igor Glyanenko, who are said to be highly experienced in managing and developing marine businesses and in the production of high technology products, IT and media services. Both are also said to be passionate boat owners. Moreover, Volov and Glyanenko are listed as shareholders in Fairline Acquisitions, which was registered with Companies House on January 6.
Russell Currie, an 18-year veteran with Fairline, will take over as managing director of the business, providing continuity and to maintain relationships with customers.
"I am delighted to have been appointed managing director for Fairline Yachts," said 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."
He continued: "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."
Sources close to the company say under its new ownership, the current range of 14 yachts, which start at 38ft and rises to 78ft, is likely to be stripped back to a much smaller number.
Fairline Yachts will continue to operate at the same manufacturing facilities in Oundle. Previous employees will be the first in line to apply for more than 100 jobs that will be available immediately.
Alastair Massey of FRP Advisory and joint administrator, concluded: "The sale to Fairline Acquisitions offers the best possible outcome. We would like to thank a supportive customer and supplier base who, together with a loyal workforce, helped see the business through the administration process."
The new company, Fairline Yachts, is funded by two long-term UK-based Russian investors, thought to be Alexander Volov and Igor Glyanenko, who are said to be highly experienced in managing and developing marine businesses and in the production of high technology products, IT and media services. Both are also said to be passionate boat owners. Moreover, Volov and Glyanenko are listed as shareholders in Fairline Acquisitions, which was registered with Companies House on January 6.
Russell Currie, an 18-year veteran with Fairline, will take over as managing director of the business, providing continuity and to maintain relationships with customers.
"I am delighted to have been appointed managing director for Fairline Yachts," said 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."
He continued: "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."
Sources close to the company say under its new ownership, the current range of 14 yachts, which start at 38ft and rises to 78ft, is likely to be stripped back to a much smaller number.
Fairline Yachts will continue to operate at the same manufacturing facilities in Oundle. Previous employees will be the first in line to apply for more than 100 jobs that will be available immediately.
Alastair Massey of FRP Advisory and joint administrator, concluded: "The sale to Fairline Acquisitions offers the best possible outcome. We would like to thank a supportive customer and supplier base who, together with a loyal workforce, helped see the business through the administration process."
Antonini Navi celebrates a key milestone in the construction of its custom 31-meter explorer yacht, Evo 31. The shipyard's team successfully joined the upper deck superstructure and sun deck, a complex operation involving the precise handling of 16 tons of aluminum. This significant achievement brings the project closer to its planned completion in 2026.Designed by Hydro Tec, the Evo 31 balances robust construction with elegant aesthetics. Hot Lab's interior design features bright, open spaces and a warm, contemporary style, reflecting the owner's preference for organic shapes and high-quality materials.The next phase will see the integration of the upper decks with the hull, followed by the completion of outfitting.The Pertusola shipyard in the Gulf of La Spezia was bought by Walter Antonini in 1977. Since then, Antonini Navi has been a family-held leader in superyacht custom build and refitting.Credits: Antonini Navi
February 4, 2025
Ares Yachts has unveiled the interior design of its 50.55-meter superyacht, Spitfire, a project inspired by the iconic Supermarine Spitfire aircraft. Designed by Bannenberg & Rowell, the yacht's interior seamlessly blends historical inspiration with contemporary luxury. Construction, using advanced composites, is slated to begin this spring.The design evokes the Spitfire's spirit of innovation and performance. Simon Rowell of Bannenberg & Rowell describes the design ethos as "nimble, efficient, dynamic, industrial, and engineered," reflected in the yacht's sleek lines, metallic sheen, and earthy color palette. The interior features natural materials such as punched metal, leather, and tinted glass, with subtle nods to 1940s industrial design.Spitfire boasts a spacious layout, including a full-beam owner's suite with a 270-degree view freestanding bed and a private outdoor movie theatre. Guest accommodations include four additional cabins, all with en-suite bathrooms. Playfully named spaces, such as "The Boss's Quarters" and "The Pilot House," maintain the military theme, while the "Buddy Quarters" guest cabins reflect modern yachting's democratic approach.The yacht incorporates advanced technology, including a hybrid diesel-electric propulsion system offering silent, emission-free operation for up to 11 hours with an optional battery upgrade. The innovative hull design, based on Ares Yachts' Ares 150 Bold patrol vessel, ensures high performance and stability, achieving a top speed of 20+ knots and a cruising range of 3,500 nautical miles.Ares Yachts Managing Director Piraye Sahinkaya Orhun expresses pride in the project, highlighting the shipyard's expertise in high-quality fiberglass construction and high-performance hull design. She emphasizes that the Spitfire caters to the modern, active yachting lifestyle, exemplified by its expansive beach club area. The yacht's interior offers flexibility for customization, allowing potential owners to personalize elements such as carpets and soft furnishings. Rowell concludes by expressing excitement for the project's completion and the opportunity to collaborate with the future owner.Ares Yachts, situated in Antalya Free Zone on Turkey’s south coast, spans 40,000 square meters of build space across four large sheds. Besides Simena, the shipyard is concurrently working on other projects, including the 50m motor yacht Spitfire and a 54m explorer yacht known as Project Atlas. Additionally, Ares Yachts is developing a 65-85m yacht range in collaboration with Lateral Naval Architects.Credits: Ares Yachts
February 4, 2025
On February 2, during the prestigious Boat International Design and Innovation Awards held in Kitzbühel, the hybrid yacht DreamCatcher was honored with the coveted Neptune trophy in the Eco Award category. This recognition highlights the significant efforts put forth by Nautor Swan towards promoting sustainability in sailing vessels, particularly focusing on the generation and storage of energy while underway.The Swan 88, Nautor Swan's newest model, recently unveiled at both the Cannes Yachting Festival and Monaco Yacht Show, stood out with its innovative diesel-electric propulsion system. The unanimous decision by the jury crowned the Swan 88 DreamCatcher as the well-deserved recipient of this year's Eco Award.Powered by a fully integrated Deep Blue system designed by Torqeedo, the custom-built setup for DreamCatcher features a robust 120kW electric drive system paired with an impressive 160kWh energy storage capacity. This combination enables quiet motoring at speeds up to 11.4 knots.One of the key aspects that impressed the judges was the yacht's capability to produce power while sailing. When operating in hydrogeneration mode, Deep Blue's advanced algorithms constantly monitor and fine-tune performance multiple times each second, ensuring efficient, eco-friendly energy production without compromising sailing speed.In collaboration with a knowledgeable owner, Nautor Swan engineered a propulsion system that allows DreamCatcher to operate solely on battery power at top speeds. Additionally, the vessel can regenerate sufficient energy through sailing to sustain both hotel and operational needs, rendering it entirely self-reliant.Nautor Swan is now studying ways to adapt this pioneering propulsion system across their entire fleet, spanning models from the Swan 51 to the maxi range.Giovanni Pomati, CEO of Nautor Swan, expressed his pride, stating, "We are thrilled that DreamCatcher received the Eco Award for its outstanding achievements in eco-friendliness, sustainability, and self-sufficiency. This milestone underscores our commitment to innovation and reflects the trust placed in us by our partners, especially the owners who entrusted us with this ambitious endeavor. Together with Torqeedo, we have created a solution that not only meets but exceeds our goals. Our next step is to integrate this technology into our broader range, further enhancing the sustainability of sailing."The winners of the BOAT International Design & Innovation Awards were announced at the Superyacht Design Festival's gala event, bringing together some of the industry's leading designers, naval architects, and shipyards. Hosted in the picturesque Austrian town of Kitzbühel, these awards celebrate excellence in design, naval architecture, and cutting-edge technological advancements within the superyacht sector.Nautor Swan was founded in 1966 in Pietarsaari, Finland. The builder entered the superyacht market in 1999. Since then, the yard has continued building high-performance sailing yachts in three different lines; ClubSwan, Swan Yachts and Maxi Swan Yachts. Credits: Nautor Swan
February 4, 2025
Videoworks has announced the launch of an updated domotic control system for superyachts, combining advanced tactile control technology with the simplicity of a standard remote control. The new system addresses the growing demand for user-friendly interfaces tailored to the luxury onboard experience.The concept behind this system involves a return to intuitive design while incorporating modern technology. Many current domotic control systems on yachts feature complex interfaces, typically involving handheld tablets with intricate touchscreen options. Inspired by the success of smart home devices like Alexa and Google Home, Videoworks applies similar principles to the world of luxury yachts.Rather than relying on elaborate tablet devices, the new system focuses on simple, physical remote controls with tactile buttons for precise and reliable operation. This approach aims to make it easier for users to manage various functions, such as adjusting TV channels, controlling audio volume, and modifying lighting scenarios and room temperature. The primary objective is to enhance user convenience, especially in cabin environments where personal preferences are paramount without requiring navigation through unfamiliar interfaces or apps.Francesco Pierpaoli, Chief Information Officer, explained: "We developed this system based on feedback from our customers, who expressed a desire for simpler and more intuitive solutions. They find that using a physical remote with a few buttons is often more convenient than interacting with a tablet’s touchscreen, particularly in a cabin setting."Furthermore, the system includes a companion app that enables guests to use their smartphones to stream their preferred music and movies directly to the onboard television, providing a private and personalized entertainment experience without needing to master complex onboard systems.This evolution aligns with broader industry trends seen in sectors such as automotive and consumer electronics, where sophisticated technologies are integrated into luxury products to improve convenience and sophistication without introducing unnecessary complexity. By emphasizing end-user convenience, Videoworks' new system effectively balances high-tech functionality with everyday practicality.Credits: Videoworks
February 3, 2025
The Italian Sea Group announced today that their 47-meter Perini Navi Art Explorer sailing catamaran has been awarded the coveted "Multihull of the Year" title at the esteemed Boat International Design & Innovation Awards 2025. These awards recognize outstanding achievements in architecture, style, design, and technology within the yachting sector.The ceremony was held on Sunday, February 2nd, in Kitzbühel, Austria, during the Superyacht Design Festival, where industry professionals from around the globe gathered to honor exceptional contributions to the field."This distinguished accolade underscores our unwavering dedication to aesthetic and technical advancement," said Giovanni Costantino, Founder & CEO of The Italian Sea Group. "Art Explorer exemplifies our leadership in the large sailing yacht category, blending pioneering design with eco-friendly solutions – a groundbreaking concept never before realized."Designed by renowned architects Axel De Beaufort and Guillaume Verdier, Art Explorer stands as the world's largest aluminum sailing catamaran. Spanning 47 meters long with a remarkable 17.30-meter beam and soaring 55-meter carbon mast, this vessel represents a truly innovative project – a floating art gallery destined for a two-year global expedition, offering immersive cultural experiences while championing environmental responsibility.The catamaran's deckhouse features 65 square meters of solar panels, capable of producing up to 12 kW instantly and over 200 kW daily. Supported by a robust lithium battery bank, this system ensures zero-emissions energy supply for more than six hours, even under maximum onboard demand. Certified with a "green" class notation, Art Explorer also incorporates catalytic filters to minimize emissions and particulate matter from exhaust gases. All operations in ports and protected zones are conducted entirely in electric mode.Thanks to its state-of-the-art, fully automated sailing rig, controllable by just one individual, the catamaran effortlessly achieves speeds of 10 knots, even in gentle breezes.The Italian Sea Group is a global operator in the luxury yachting industry, listed on Euronext Milan (“EXM”) and active in the construction and refit of motor yachts and sailing yachts up to 140 meters. The Company, led by Italian entrepreneur Giovanni Costantino, operates on the market with the brands Admiral, renown for elegant and prestigious yachts, Tecnomar, Perini Navi, and Picchiotti; the Company has a business unit, NCA Refit, that manages the maintenance and refit services for yachts and mega yachts with a length over 60 meters. Credit: TISG
February 3, 2025