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Marine Group deal harbours steady shores for the future

Shawbrook Bank and Schofield Sweeney are delighted to have acted for the Marine Group in a multi-million pound funding package, as part of its expansion plans.

Shawbrook Bank, with our assistance, has provided the leading marine business with a funding package totalling £2.88m, including:

  • a commercial mortgage facility to enable the full acquisition of Port Dinorwic Marina, which it had previously operated via a lease
  • an acquisition that supports the continued expansion across the business, including facility at Burry Port

The Marine Group, who began life in  Cardiff Bay in 2007 with 2 employees and a few moorings, has now rapidly expanded to offer over 1,255 marina and dry stack berths across 5 locations along the Welsh coastline from Cardiff in the south to Port Dinorwic on the north coast.  The services it offers includes berthing, drystack facilities, boatyard services and commercial property. The business now employs over 45 highly trained marine engineers, craftsmen and support staff.

Manjit Virdee, Partner in our Commercial Property team at Schofield Sweeney added; “It was great to assist Shawbrook on this deal for the rapidly expanding Marine Group. Well done to all involved and a special thanks to Oliver Jenkins at Shawbrook and my team for their hard work and dedication.”

Assisting Manjit Virdee with the transaction were Abigail Falshaw, Kate Fox and Karen Crutchley.

If we can help your business to grow, we'd love to hear from you. Please call Manjit Virdee and the team on 01274 377299, who will be happy to help.

About the Author

Manjit Virdee

Partner

Manjit covers a broad range of commercial property work; but specialises and leads the firms Secured…

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