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The Business Magazine - B2B Business News - Site Logo
The Business Magazine - B2B Business News - Site Logo
The Business Magazine July 2024
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Western Marinas secures lease for Watchet Marina

Buyside Advisors Include

Sellside Advisors Include

    Wales-based Western Marinas has taken on three sites – including Watchet Marina in Somerset – after previous owner The Marine & Property Group fell into administration last year.

    The new company, backed by Trevally Capital and Harwood Private Capital, has also acquired Cardiff Marina and taken on a management contract for Aberystwyth Marina.

    Western Marinas was advised on the transaction by Womble Bond Dickinson (WBD), led by partner Will Fraser from the finance and investment team.

    Will said: “It’s fantastic to have been able to support Trevally and their partners again on another transaction, especially given this deal’s importance in helping shore up the long-term sustainability of a number of marinas in Wales and England.

    “This was a deal which required significant expertise across a wide range of practice areas as well as a strong consideration of the current market and conditions the business faced, and we’re thrilled to have been able to provide assistance on this and help them turn around the organisation with a view to develop it further."

    Will was supported by partners Charlie Reid, Amy Gallimore, Andy Stirk and Carl Powlson from the firm’s banking, restructuring and corporate teams.

    Managing associate David Ridley, associates Jake Unsworth and Holly Ransley, and solicitor Omar Sammakia provided corporate and finance support on the transaction, while managing associate Heidi Allen and members of the property team provided due diligence on the marinas involved in the deal.

    Partner Ronan Lowney and managing associate Chris Bowen also provided additional support on tax and commercial elements respectively.

    The board of Trevally added: “Western Marinas has a clear mission to put these marinas back to where they belong as some of the leading facilities in Wales and the South West.

    “We’d like to thank the WBD team for their relentless effort, brilliant counsel and superb teamwork to help get this investment finalised and over the line, especially given the wide-reaching nature of the deal.”

    Share
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