New owner for UK shiprepairer

A&P’s three yards are at Hebburn on the Tyne, at Middlesbrough on the Tees, and a third in Falmouth, Cornwall, which have enjoyed some success in recent months in winning contracts in new fields, including building subsea structures for key oil and gas sector clients, as well as developing ship repair and conversion work. This work includes work for the UK MoD supporting RFA vessels building sections for new aircraft carriers. The current A&P Group management team will continue to be responsible for day-to-day running of the operations.

Atlantic & Peninsula Marine Services, whose shareholders include Peel Port Holdings (No2) (IOM), intends to promote A&P’s growth into new sectors such as the oil and gas and renewable energy markets.

Chris Bell, A&P MD commented: “This announcement is good news for the A&P Group and will drive our continued growth both in the short and long term. The management team is committed to ensuring that the business continues to go from strength to strength as we pursue opportunities in new sectors and continue to service our existing customers. We are grateful to the former shareholders who have supported and enabled us to invest in the business resulting in the strong position we find ourselves in today. We are looking forward to working with our new shareholders who share our vision in driving the business forward.”