Britain’s largest independent ship repairer has been created with the acquisition by Burgess Marine of Testbank Ship Repair in southern England.
Burgess Marine, headquartered in Dover and with sites in Poole and Portsmouth’s naval base, has acquired Testbank Ship Repair, with locations at Southampton docks, Portchester, near Portsmouth, and Avonmouth, near Bristol. The deal will see 120 full-time staff work under the Burgess Marine banner from the six sites, with a combined annual turnover of £20m-plus.
Nick Warren, Managing Director, Burgess Marine , said: “ The various work streams of both companies very much complement each other, so it made compelling business logic for family-owned Testbank to join forces with us to create the largest independent ship repairer in the UK by both geographical location and the fact that we are not tied to any one particular yard or facility.
“ Whilst this is an acquisition on paper, both parties view this as very much a friendly merger rather than anything else. It is one that will benefit our customers across the UK and internationally from economies of scale, as well as providing job security and prospects for our 120 highly skilled and dedicated employees and over 200 sub-contractors. With Testbank on board, the business is ideally located to support the UK’s largest passenger ports from strategic locations across the South Coast and shipping in general throughout the busy English Channel. ”
From a base in Avonmouth, near Bristol, a number of Testbank staff routinely travel nationally and internationally in support of the businesses.
Jason Coltman, Managing Director, Testbank , now a wholly-owned subsidiary of Burgess Marine, becomes Operations Director for Burgess Marine, which was established in the late 1970s.
He said: “ Testbank has a proud history tracing back to 1973 and we are excited to be working hand-in-hand with such a strong engineering name and pedigree as Burgess Marine. We will be able to draw upon Burgess Marine’s complementary expertise and skill pool, and it is fantastic news for everyone involved .”
The 70-plus clients of newly-enlarged Burgess Marine, including a number of strategic partnerships, represent the A to W of names in the commercial marine industry.
They include A&P Falmouth, ferry operators Brittany, Condor, P&O, Red Funnel and Wightlink, BAE Systems, cruise liners group Carnival, UK support services company Serco, Eurotunnel, Rolls Royce, Andrew Weir Shipping and the RNLI. Burgess Marine also works with operators of fixed and mobile platforms, such as oil rigs and wind farms, along with owners and operators of superyachts and high-speed craft.
The firm provides comprehensive marine repair services, from welding, electrical, engine overhauls, structural fabrication and mechanical support to dive support, dock evaluation reports, vessel surveys and warehousing. Its repair service is complemented by steel fabrication, pipe and mechanical facilities, dry and wet docks and ship lifts.
Staff at Burgess Marine and Testbank were officially informed of the new business structure in a meeting hosted by Burgess Marine and held on January 25 at St Mary’s Stadium, Southampton. The acquisition was through a combination of funding from HSBC bank and private cash; Testbank’s privately-owned shares were purchased outright for an undisclosed figure.
[mappress] Burgess Marine, January 29, 2013