"We will continue to design and manufacture quality, class leading luxury motor boats, thanks to a highly skilled workforce of 1,100 personnel at our bases in Oundle and Corby, " said Carter. "Around 95% of the 300 or so boats we sell each year are exported and we are committed to seek new markets and grow Fairline into a prestige global brand."

Carter went on to say the sales outlook at Fairline is good with strong forward order books for 2006.

The deal was first proposed by Carter to Renwick Group chairman, Graham Beck, two years ago and was eventually put together in just 12 weeks.

"We put the deal together in 12 weeks of intensive negotiations, " said Carter in a press interview recently. "We worked exclusively with 3i although other city institutions showed an interest."

Mark Dickinson of 3i will join the new Fairline board and David Hoare will be nonexecutive chairman. The other members of the board are shown in our picture. Standing (l to r) Alan Bowers, finance director;

Adam Green-wood, technical director; Matthew Taylor, supply chain director.

Seating (l to r): James Robinson, sales and marketing director; Derek Carter, CEO; David Hurst, manufacturing director.