Luxury Yacht Manufacturer Acquired, Leading to Job Reductions

A company that produces luxury yachts has been acquired by a firm focused on clean propulsion technology, resulting in job losses. Fairline Yachts, established in 1967 in Oundle, Northamptonshire, was bought by Arrowbolt following the sale of its stake by private equity firm Hanover Investors. According to information obtained by the BBC, multiple employees at the Oundle facility have been laid off, with potential for over 100 total job reductions. Peter Hamlyn, who has been appointed as Fairline’s new chief executive, stated: “We look forward to aligning the business with our long-term vision to be a clean and sustainable marine brand.” Arrowbolt manufactures electric propulsion technology and creates zero-emission systems for the recreational boating industry. Hanover Investors acquired its share in Fairline Yachts in 2021. The company maintains its prototype and development teams in the adjacent town of Corby, and its testing operations are situated at Ipswich Marina in Suffolk. Requests for additional comments have been extended to both Fairline and Arrowbolt.