The CEO of Fairline has given his backing to the announcement yesterday that Fairline has been bought in a joint venture by investment company Better Capital Limited and RBS

Following the news yesterday that Fairline has been purchased in a joint venture by investment company Better Capital Limited and the Royal Bank of Scotland (RBS), Fairline’s CEO, Derek Carter, has spoken out.

Of the sale, Carter said, “This investment will allow us to focus on three core elements paramount to our continuing success as a UK manufacturing business, being new product development, the implementation of new build technologies and the support of further growth in burgeoning overseas markets.

“The investment allows our three-year model launch plan to be set in motion, which includes the completion of our much-awaited flagship, the Fairline Squadron 80.”

The purchase price of Fairline was in excess of £20m. RBS has purchased less than 20% of the company, with the lion’s share going to Better Capital Limited.