Dover-based Burgess Marine — a family-owned marine engineering and ship-repair business that has worked with high-profile customers such as Rolls-Royce and BAE Systems — has completed a multi-million-pound management buy-out with private equity backing.
Kreston Reeves & Brachers advised on the MBO, while private-equity firm RJD Partners offered £11 million to fund the deal and provide capital for future growth.
Burgess Marine provides ship maintenance, repair, new-build construction and re-fit services. It employs more than 130 people and had a turnover of more than £25 million in its 2014 financial year, which was more than double the previous figure. In September of last year, it acquired Hampshire-based Meercat Workboats.
Nicholas Warren has run Burgess Marine since his father (David) retired in 2008. He said: “Burgess has an excellent foundation of strong customer relationships and a reputation and proven track record for innovation and quality.
"We will build on this over the coming years, as the company grows to become the leading independent operator in the UK marine-services sector. We are very pleased to be in partnership with RJD and look forward to working closely with their team in continuing the success of Burgess.”