manufacturer . for the defunct airline see fairline . fairline squadron yachts outside fairline s ipswich testing facility a 1990s fairline squadron fairline squadron a fairline squadron at the 2011 jersey boat show fairline boats 1 is a british manufacturer of luxury motor yachts . started in 1963 by jack newington in 2016 the assets were acquired from administration by russian businessmen alexander volov and igor glyanenko into new company fairline yachts ltd. the company builds motor yachts in oundle northamptonshire . contents 1 history 1.1 newington family 1.2 venture investment 2006 2015 1.3 fairline yachts 2016 present 2 range 3 references 4 external links history edit newington family edit the company started when newington bought a series of gravel pits on the river nene and built the oundle marina . in 1967 he launched the first fairline boat a 19 feet 5.8 m handcrafted glass reinforced plastic river cruiser . 2 when newington s son sam a former royal air force pilot and columbia university mba graduate took over in 1971 the company employed fourteen people . sam expanded the companies sales network overseas to take advantage of the expanding mediterranean market place by 1979 the company employed 140 people and turned over 5 million with production expanded by the success of 1977 s fairline 40 model . 2 the company expanded in the 1980s developing lines of high speed cruising yachts . when sam retired in 1996 the company expanded further by establishing fairline boats of north america inc. creating a network of 35 dealers . 2 in 2002 the 10 000th fairline was completed together with new production facilities at the original oundle site . by 2010 the 12 000th fairline was completed a squadron 55 shipped to a client in italy . the fairline owners club was founded in 2003 . 3 venture investment 2006 2015 edit in 2006 the company was purchased by 3i . 2 the company launched the fairline targa 38 in 2006 which won the european powerboat of the year in the 30 ft 9.1 m to 40 ft 12 m category in 2007 . 4 fairline boats was purchased by better capital and rbs in july 2011 . 5 in september 2015 fairline boats was bought by luxury brand group wessex bristol . fairline yachts 2016 present edit having suffered a series of trading difficulties since post the 2008 global recession in november 2015 the company directors proposed a company voluntary arrangement to its creditors . however in december 2015 fairline boats entered administration . in january 2016 alexander volov and igor glyanenko uk based russian businessmen purchased the assets of fairline boats for about 4 million . fairline yachts ltd new managing director russell currie announced a reduction in the workforce from the previous 466 to around 100 . 6 in march 2016 fairline yachts completed their first build a targa 48gt for a uk customer . in may 2016 fairline yachts announced a partnership with the yacht designer alberto mancini and naval engineers vripack to work on the design of the future fairline model range . range edit the range presently includes the following models squadron first launched in 1990 with the squadron 62 a large yacht range . from 42 ft 13 m to 78 ft 24 m targa first launched in 1985 a series of sports style boats . from 38 ft 12 m to 62 ft 19 m the range is topped by the gran turismo models first launched in 2003 references edit fbl realisations limited overview free company information from companies house . beta.companieshouse.gov.uk . retrieved 2016 01 27 . a b c d back targa 62 gran turismo more 2015 12 02 . luxury motor yachts . fairline.com . retrieved 2016 01 27 . https web.archive.org web 20070613144555 http www.fairlineownersclub.com forum portal.php . archived from the original on june 13 2007 . retrieved september 15 2007 . missing or empty title help boat buyers guides . rightboat.com . retrieved 2016 01 27 . nick burnham 2011 07 12 . fairline is bought by better capital limited and rbs motor boat & yachting . motorboatsmonthly.co.uk . retrieved 2016 01 27 . rob davies 1970 01 01 . fairline boats former staff queuing at gates to work after russian takeover business . the guardian . retrieved 2016 01 27 . external links edit wikimedia commons has media related to fairline . fairline company website fairline owners club retrieved from https en.wikipedia.org w index.php title fairline boats & oldid 741252635 categories companies established in 1963companies based in northamptonshirebritish boat builders3i group companiesyacht building companieshidden categories pages with citations lacking titlespages with citations having bare urlscommons category with local link same as on wikidata navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version in other projects wikimedia commons languages deutschsvenska edit links this page was last modified on 26 september 2016 at 09 50 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view