Aquavista completes strategic acquisition of Castle Marinas
2 Dec 2021
2 Dec 2021
Aquavista, the UK’s premier residential and leisure mooring provider, has today announced the strategic acquisition of Castle Marinas. The transaction expands Aquavista’s portfolio of 18 marinas nationwide with an additional footprint of 11 high quality marinas at new locations, including Crick Marina home of the world-famous Crick Boat Show and the picturesque Birdham Pool Marina at Chichester Harbour.
Following the acquisition, Aquavista’s new offering will provide 29 marinas and over 5,000 marina berths UK-wide, at both inland and coastal locations.
The investment was funded by leading mid-market private equity firm LDC. Debt facilities were provided by Barings. LDC partnered with Aquavista in December 2018 to support targeted capital investment across the marina estate. Since then, the business has invested more than £3m to improve its marina facilities and deliver first-class waterside experiences for its customers.
Aquavista CEO, Steve de Polo commented, “We are delighted to announce the acquisition of Castle Marinas. Since 2019, Aquavista has focused on a strategy of growing the business through investment in our growing residential moorings and improving marina facilities for all our customers. The acquisition of Castle Marinas opens up additional new growth opportunities across our marina estate.
“The size and structure of this acquisition will enable Aquavista to invest significantly across our whole marina estate. This will enhance the product and service for our customers and help us to deliver on our mission to provide a great waterside experience, whether you live, visit, or work at an Aquavista marina. Both Castle and Aquavista have strong customer-focused approaches and combining the two businesses is a natural fit.”
Operations Director, Mike Braidley, from Castle Marinas commented, “Castle Marinas is very pleased to have reached an agreement with Aquavista. It is clear how closely our mission statements align, and we believe Aquavista is ideally placed to continue to deliver and, indeed, improve on our commitment to be ‘Big enough to cope, small enough to care’. This transaction will support our waterside teams to continue providing a friendly, helpful and professional service at all our locations.”
David Bains, Investment Director