Bill Barry-Cotter's firm will keep building and marketing Mustang boats

Maritimo has emerged as the buyer of troubled Aussie boatbuilder Mustang, which fell into administration in March for the second time in two years.

Maritimo, which is based in Queensland in Australia and makes flybridges and sportscruisers up to 60ft, is run by Bill Barry-Cotter, who used to own Riviera, another Australian builder.

Barry-Cotter said he will keep the moulds and all intellectual rights to the Mustang brand, and continue to market and build Mustang boats.