Rival Bowman, which went into receivership last November, has been bought by the Falmouth-based yacht manufacturer, Rustler Yachts.

The deal, whereby Rustler Yachts will take ownership of the tooling and manufacturing rights of the Rival Bowman and Starlight ranges, will create many new jobs and strengthen Rustler’s market share and reputation of building sea worthy blue water cruisers.

All manufacturing will move to Falmouth, except for the Starlight 46, which will continue to be constructed at the Rival Bowman Ocean Quay yard in Southampton. Plans include formation of a parent company to run all three separate brands.