petem
Well-known member
Hmmm, more like a 5.5hr drive in conditions that would have been more suited to a boat than a car.
Fairline Boats purchased
- Thread starter stelican
- Start date
Croftie
Active member
Think I like Deleted User's version better
jimmy_the_builder
Well-known member
Waiting!
jfm
Well-known member
Come oooooon, Pete!
petem
Well-known member
I met with Miles Moorhouse (Marketing Director), Russell Currie (MD), Andrew Pope (Design) and Martyn Hicks (Operations). Some of you may know Miles, he was in that role whilst Derek Carter was in charge. Russell owns Fairline N Mallorca. Andrew and Darren have been with Fairline for many years. The new owners are boaters although not FL owners, yet!
The current situation is that they are completing a number of boats that they bought half completed from the administrator. To do this they have taken on a three month lease on their Corby facility whilst they move boat production and offices to the three large units that they have leased in Nene Valley. In Nene Vellay they will have four lines; one for larger yachts (e.g. SQ78), one for smaller boats (e.g. T38), one for the stuff in the middle (e.g. T53) and an overflow / prototype line. They were keen to show me the schedule for 2016 which was consistent with the 30 to 40 boats as previously disclosed (see http://www.peterboroughtoday.co.uk/...fter-being-snapped-up-by-new-owners-1-7179293) and included boats throughout the range including lots ot 53's and even a few SQ78's. These boats will go out to dealers and customers throughout the world, an important objective being the build of boats to display at boat shows throughout the year (FL will be at SIBS and LIBS and all the other major shows). The first new order will go into build within a fortnight.
I asked how they will make a profit where others have failed. They are confident that their fresh start with facilities, a workforce and systems geared to produce 100 boats a year will put them back into profit. Having no debt, being able to cherry pick what they bought from the administrator and a new lease on premises helps too I imagine.
Previous ownership
The guys were keen to remind me that despite everything, Better Capital did invest heavily in the business and that we should respect that. They refused to say much regarding Wessex Bristol.
Product Development
They will continue with development the second and third variants of the 53 (an Open Boat and a Flybridge). I asked for their response to the criticism of the 53 and they are encouraged by the feedback that they've received from the press, dealers and potential customers. Their design aims for the 53 were a low profile and user friendly boat (no cleats 6ft up from the pontoon) with a really good sociable cockpit. Its important to note that many of their customers have villas in the sun and will use the 53 as a day boat. The T53 Open is a really important model for the Med.
There will be some new models announced this year and they are excited by having a blank sheet of paper to start from and ALL ideas are being considered. I suggested something along the lines of the Magellano, I'm not sure how keen they were but acknowledged that Azimut have done an amazing job establishing the model range. They felt that the current FL model increments were too small and will probably rationalise to fewer size points in the future.
Propulsion wise, their previous ethos has been to employ sterndrives for smaller boats, pods for boats without crew cabins and shafts for crew cabin boats (i.e. >50ft). This seems to be what the market desires. Whether this remains the case isn't decided yet.
Whatever they build, it will have the FL attributes of being stylish, built to the highest standard with fantastic handling.
Passion
It was very clear that everyone is massively passionate about the brand and the company. The new management team have many years at FL under their belts, the staff were queuing at the gate to be taken back on, not a single dealer has defected to another brand and suppliers are fully engaged.
One of the guys that impressed me most was the security guard, not only did he pick me up on my reference to "Fairline boats" when I arrived, but he was also nostalgic about some of the boat they'd built in the past (despite me keeping him there until 8pm).
Overall Impressions
The new team are committed to doing things right. This means finishing all the boats that were part built, ensuring that all the key stakeholders are consulted for new model development (including dealers, customers and I dare say enthusiasts) and even minor details such as ensuring that the build papers from the boats built in the past are retained.
Their enthusiasm is infectious. Boats are so much more than the sum of their parts and they are 100% committed to designing, building and selling the world's best boats. For me it was really exciting to see their plans and knowing that every boat shipped will end up creating loads of happy times and memories. They asked if I would come back in a few weeks when production is fully under way.
I've no doubt that there will be hard work ahead to make the business into a success but there's everything to play for. If I had the money, I'd place an order tomorrow - anyone want to buy a kidney?
The current situation is that they are completing a number of boats that they bought half completed from the administrator. To do this they have taken on a three month lease on their Corby facility whilst they move boat production and offices to the three large units that they have leased in Nene Valley. In Nene Vellay they will have four lines; one for larger yachts (e.g. SQ78), one for smaller boats (e.g. T38), one for the stuff in the middle (e.g. T53) and an overflow / prototype line. They were keen to show me the schedule for 2016 which was consistent with the 30 to 40 boats as previously disclosed (see http://www.peterboroughtoday.co.uk/...fter-being-snapped-up-by-new-owners-1-7179293) and included boats throughout the range including lots ot 53's and even a few SQ78's. These boats will go out to dealers and customers throughout the world, an important objective being the build of boats to display at boat shows throughout the year (FL will be at SIBS and LIBS and all the other major shows). The first new order will go into build within a fortnight.
I asked how they will make a profit where others have failed. They are confident that their fresh start with facilities, a workforce and systems geared to produce 100 boats a year will put them back into profit. Having no debt, being able to cherry pick what they bought from the administrator and a new lease on premises helps too I imagine.
Previous ownership
The guys were keen to remind me that despite everything, Better Capital did invest heavily in the business and that we should respect that. They refused to say much regarding Wessex Bristol.
Product Development
They will continue with development the second and third variants of the 53 (an Open Boat and a Flybridge). I asked for their response to the criticism of the 53 and they are encouraged by the feedback that they've received from the press, dealers and potential customers. Their design aims for the 53 were a low profile and user friendly boat (no cleats 6ft up from the pontoon) with a really good sociable cockpit. Its important to note that many of their customers have villas in the sun and will use the 53 as a day boat. The T53 Open is a really important model for the Med.
There will be some new models announced this year and they are excited by having a blank sheet of paper to start from and ALL ideas are being considered. I suggested something along the lines of the Magellano, I'm not sure how keen they were but acknowledged that Azimut have done an amazing job establishing the model range. They felt that the current FL model increments were too small and will probably rationalise to fewer size points in the future.
Propulsion wise, their previous ethos has been to employ sterndrives for smaller boats, pods for boats without crew cabins and shafts for crew cabin boats (i.e. >50ft). This seems to be what the market desires. Whether this remains the case isn't decided yet.
Whatever they build, it will have the FL attributes of being stylish, built to the highest standard with fantastic handling.
Passion
It was very clear that everyone is massively passionate about the brand and the company. The new management team have many years at FL under their belts, the staff were queuing at the gate to be taken back on, not a single dealer has defected to another brand and suppliers are fully engaged.
One of the guys that impressed me most was the security guard, not only did he pick me up on my reference to "Fairline boats" when I arrived, but he was also nostalgic about some of the boat they'd built in the past (despite me keeping him there until 8pm).
Overall Impressions
The new team are committed to doing things right. This means finishing all the boats that were part built, ensuring that all the key stakeholders are consulted for new model development (including dealers, customers and I dare say enthusiasts) and even minor details such as ensuring that the build papers from the boats built in the past are retained.
Their enthusiasm is infectious. Boats are so much more than the sum of their parts and they are 100% committed to designing, building and selling the world's best boats. For me it was really exciting to see their plans and knowing that every boat shipped will end up creating loads of happy times and memories. They asked if I would come back in a few weeks when production is fully under way.
I've no doubt that there will be hard work ahead to make the business into a success but there's everything to play for. If I had the money, I'd place an order tomorrow - anyone want to buy a kidney?
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Omegaelite
New member
Re: Fairline makes boat show comeback in Miami
Huge thanks!
Will contact tomorrow as I have quite a list now[/QUOTE]
Speaking to bates marine today , fairline lost there parts guy who had been there since left school, its apparantly left quite mess in terms of spares and they dont see it improving for at least 6 weeks as the focus will be on moving the equipment from second factory there shutting once current boats are finished to oundle. So realistically it doesnt matter whoever you approach for fairline spares until the summer if they need to involve the factory you aint getting until middle of the year earliest
Huge thanks!
Will contact tomorrow as I have quite a list now
[/QUOTE]Speaking to bates marine today , fairline lost there parts guy who had been there since left school, its apparantly left quite mess in terms of spares and they dont see it improving for at least 6 weeks as the focus will be on moving the equipment from second factory there shutting once current boats are finished to oundle. So realistically it doesnt matter whoever you approach for fairline spares until the summer if they need to involve the factory you aint getting until middle of the year earliest
D
Deleted User YDKXO
Guest
Thanks for the report Pete. Given the state that Fairline were in before Christmas this really is more than anyone with Fairline's best interests at heart could have hoped for. I wish the new management team the best of luck putting the company back on an even keel.
I wonder if you had a chance to ask this questions. Obviously they have taken some of the old employees back on board but what about those suppliers who lost out as a result of the administration? Was there any kind of commitment to continuing to do business with these companies?
I wonder if you had a chance to ask this questions. Obviously they have taken some of the old employees back on board but what about those suppliers who lost out as a result of the administration? Was there any kind of commitment to continuing to do business with these companies?
petem
Well-known member
Mike, I very much got the feeling that suppliers (even those that are owned money by Fairline Boats), are happy to supply the new company - although I suspect some are still smarting a little from being let down by the previous owners. I guess there aren't many boat builders or suppliers of specialist marine parts so nobody can afford to be that choosy. The fact that FL are completing boats must mean that they have an end to end supply chain in place.
Incidentally, I was in touch with Richard Bates earlier in the week. Like Fairline he is doing what he can to get the supply of spare parts up and running again but this isn't something that can be switched on like a tap. As Omegaelite says above, customers may have to wait 6 weeks or so until normal service is resumed.
Incidentally, I was in touch with Richard Bates earlier in the week. Like Fairline he is doing what he can to get the supply of spare parts up and running again but this isn't something that can be switched on like a tap. As Omegaelite says above, customers may have to wait 6 weeks or so until normal service is resumed.
EME
Active member
Really ? How did you get that 'feeling'?
petem
Well-known member
EME, I'm happy to stand corrected over that point. As I've been at pains to say, I hope you guys get the money you deserve.
EME
Active member
Its not a matter of being 'corrected', I know nothing. I just wanted to understand how, who or what had given you the impression that suppliers were both informed of what the future looked like, how the the debt situation was currently (some of those 'spares' may not have been paid for?) and that suppliers were 'satisfied'. No tricks .. you have had more contact with Miles, Andy & Martin for example than I have. Was an open question not a criticism !
petem
Well-known member
Fairline Yachts purchased assets from the administrator. I know this included part built boats but I didn't question or see what parts were purchased. I was told that since forming the new company, they had been touched by the support they had had from their dealers, employees, customers and suppliers*. The plans for the business, i.e. volumes of boats that they are planning on building was in the press a few weeks ago - see my link above. I haven't claimed that suppliers have been informed of what the future for Fairline Yachts looks like.
Obviously I know absolutely nothing of what the creditors are doing to sort out Fairline Boats creditors.
* Doubtless there will be some suppliers who may not be happy.
Obviously I know absolutely nothing of what the creditors are doing to sort out Fairline Boats creditors.
* Doubtless there will be some suppliers who may not be happy.
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Cashbuyer
Member
Great to hear things are moving in the right direction and I wish them well but they do need to look at the design of recent models. Not the most stylish on the water with a hotchpotch of windows and 'blocky' mouldings. Some of the fittings were also not up to scratch ie deck hatches with black plastic handles, which felt decidedly down market. And although it's great to have feedback from customers you can't listen to too many opinions or you lose sight of your aims and goals and vision and end up with a product which is watered down and trying to please too many people.
petem
Well-known member
I agree - you can't please all the people all the time and you can't design by committee. But boat designers don't spend their summers on boats and we often read on here about some feature that clearly hasn't been thought through. Incidentally Russell Currie is a keen boater and was telling the guys and me how he got in trouble with his wife for selling a Sq58 that they had in stock and were using themselves. That's the sort of class leading boat they need to build IMO.
petem
Well-known member
EME, further to your comments above, I would hope that they have a plan to let suppliers know what their future plans are. If they haven't then they should after reading this. Can I also stress that the new team are very approachable so people should feel free to drop them a line or give th em a call. But remember these are early days and they've only been in business for a month. Note that I met them after work as they are working all hours to relocate production and build some boats.
AND a Fairline without Lumishores is clearly unthinkable!
AND a Fairline without Lumishores is clearly unthinkable
!
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PowerYachtBlog
Well-known member
All very interesting and thanks. But this remains a big problem, if you see it in the exact context it is delivered.
In all apart enthusiasm which is important, signs are not encouraging.
And while Magellano example is off mark, the reply was spot on because Azimut Benetti Group turn around plus or minus is around the 500 million EURO mark.
You could have given the example of a brand like Absolute. I think they sold twenty plus Navettas 52 and 58 for this year and production is all sold for 2016.
Absolute had a turnover of around 50 millions EURO give or take in recent years. Similar to what Fairline is aiming.
As I see it, we keep on doing what brought us into our misery, and we see if it works again. It might work if you have a couple of personnel working for free and given a non ending signed cheque book.
So basically new models will be again a modification of current molds (see 50 to 53 Targa, 55 Sqd to 58 and 60, Targa 58 to 62) etc etc.
So possibly the, 38 will become a 40, 48 will become a new 50, and the 53 will have its headroom steps resolved and become a 55.
I am disappointed because seeing the situation they are starting from, I expected a new input, which as I see there is not.
Even how they speak re propulsion and type boats, its all very box minded IMO.
A year might pass and I might be proven wrong though, at this stage lets wait and see.
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petem
Well-known member
Please read my post again. The variants of the 53 will launched as the design for these is well advanced. Beyond that they are starting with a blank piece of paper. Like everyone, I will be very disappointed if future model launches are just rehashes of the current range. And as I said in my post, there needs to be thinning out leading to significant increments between model lengths.
I can't say what time scales they are working to but I would expect the announcement of totally new model(s) well within a year from now.
D
Deleted User YDKXO
Guest
This was part of the reason for my question. As a supplier it is one thing not to be paid for goods you have supplied when a customer goes into administration but it feels like a real kick in the teeth when a phoenix company rises out of the ashes and sells on those goods which they have effectively paid no money for
I am delighted that Fairline are up and running again but it would be a gesture of good faith on their part if they found a way of part compensating those suppliers who lost out.
petem
Well-known member
Ah OK, I see where you are coming from and take your point although it may be hard to work out where you would draw the line.
Pete
Pete
henryf
Well-known member
I wish everyone all the best but fear with heads buried in the sand little good will come. They have a honeymoon period where they are able to sell off some stuff they haven't paid for - unpaid suppliers are funding the part built boats. Enthusiasm is great and god loves a trier but even if we pretend customers aren't going to venture down below into the cabins I fail to see how the main deck is a solid platform on which to base a 53 foot day boat.
That big step, dead space to starboard of the step and seating to port which requires people to either detach their legs or get very friendly. I'm reminded of the current advert running on TV for villa rentals featuring the sweaty hairy bloke.
Until they hold their hands up they can never move forward. Being encouraged by feedback means they think it's fine and will continue with more of the same. My mum thinks everything I do is great, the boating press is very similar to my mum in the way they handle advertisers and home built boats.
Congratulations on an excellent post and for asking the salient questions.
Henry
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