Jon Moulton's Better Capital has taken luxury boat maker the Fairline Group off 3i.
Better Capital has taken luxury boat maker the Fairline Group off 3i, the latest in a run of deals for the Jon Moulton-helmed private equity firm.
The fund manager, who is thought to have put £17m into the deal, has taken a majority stake in Masco 30, an investment vehicle set up to own Fairline, with bank RBS taking up a minority position.
Fairline is a UK-based manufacturer of luxury power boats in the 38 to 80 foot range. It produces around 170 boats a year to high-quality specifications, retailing from €200,000 to more than €3m.
In June 2005, 3i backed a management buyout by Fairline’s six-strong management team, which included chief executive Derek Carter.
Better Capital last week paid £32m (€35.7m) for the UK and Irish division of stationery and office product supplier Spicers in a last-minute deal.
A day earlier the private equity firm bought the bank facilities and related rights of DigiPoS Store Solutions Group, an electronic point of sale hardware and software firm.
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