Hanover Investors announced the sale of its interest in Fairline Yachts to Arrowbolt Propulsion Systems.
Arrowbolt appointed Peter Hamlyn as Fairline CEO. Hamlyn has held positions at Princess Yachts, Oyster Yachts and other builders. From December 2018 to January 2021, he was operations director at Fairline.
“We look forward to aligning the business with our long-term vision to be a clean and sustainable marine brand,” Hamlyn said in a statement. “However, to be clear, the industry faces a number of economic and market challenges, and we will be assessing the current business before making any strategic, long-term investment decisions.”
Hanover acquired Fairline in June 2021.
The Fairline Squadron 58 was the winner in the “Flybridges up to 60 feet” category in the 2024 Motor Boat Awards.
