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Jon Moulton’s Better Capital invests in the Fairline Group

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.

Read more from sister title Real Deals.


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