boatingbusiness.com
JULY 2020
Washington Post 6 | Person Behind the Face 6 | Marketing 8 | Business Matters 12 | Profile 23 | People 24
SIBS 2020 CANCELLED
NEWS
Cannes go ahead Shipyard expansion Optimism upgrade pages 1-10
POWER AND PROPULSION Southampton International Boat Show 2020 will not take place this September. Organisers, British Marine, state the 52nd edition of the show will be postponed until September 2021 in the wake of Covid-19 government guidelines on large gatherings. However BM says options will be explored to run an alternative, smaller scale outdoor event. “The world is in an unprecedented situation with the COVID-19 pandemic and public health is everyone's priority,” said Lesley Robinson, BM CEO. “Annually Southampton International Boat Show attracts an attendance of over 100,000, with over 430 exhibitors. An event of this size and format is simply not possible this year
and as such, we have made the decision to postpone it until September 2021.” She added: “We're naturally very disappointed that we cannot run the event this year in its usual magnitude and format, but the Southampton International Boat Show is a key international event, which will be back stronger than ever in 2021. “We will ensure that we make the 52nd edition one to remember.” Current exhibitor bookings can be transferred to 2021, retaining their stand positions and 2020 rates. Otherwise, BM says refunds can also be requested. Next year's show is scheduled to start on September 10.
FAIRLINE YACHTS SOLD Fairline Yachts has been sold to the RiverRock European Opportunities Fund II. RiverRock has been a partner of Fairline for the last 11 months and has now acquired a majority stake in the boatbuilder. The investment is aimed at securing the financial future of the business following the coronavirus pandemic. “By taking a majority stake in the business, RiverRock is demonstrating its continued support and confidence in Fairline,” said Peter McNulty, Fairline chief operating officer. “As announced previously, the company has made some tough decisions to right-size the business as a result of the current extremely challenging market conditions. This has better positioned the company and aligns it more closely with our strategic plans both in terms of product and regional growth. The new investment from RiverRock provides us with the capital and execution ability we needed to fulfil these long-term growth plans.” And he said the investment will allow the boatbuilder to continue the roll-out of its long-term strategic plan and continue its product development programme. Igor Glyanenko and Alexander Volov, who bought Fairline
New hydrogen technology EPA approval New engine trio pages 14-18
MAST, SAILS, SPARS AND RIGGING
8 RiverRock has acquired a majority stake in Fairline Boat's assets in January 2016 after the company collapsed, will maintain a financial interest in Fairline Yachts. The businessmen will now focus on their core businesses which have been substantially impacted by both the Covid-19 pandemic and the oil price drop of recent months. Fairline recently announced it would be making more than 50% of its workforce redundant due to the downturn caused by the coronavirus pandemic.
Modular approach Mass production Complete line-up pages 19-22