Published on: 01 December 2022
Plymouth Yacht Brokers has completed its sale to private buyer Dominic Berry, with specialist M&A advisory firm First Peninsula Marine acting as valuers and advisors to the company.
The full-service brokerage company has been trading continuously in and around Plymouth, Devon for nearly 30 years. Plymouth Yacht Brokers sells both sail and powered craft for customers located throughout the South West. In addition to the brokerage operations, maintenance and management services are also provided as required.
The company was created in the mid-1990s at the original Clovelly Bay Marina in Turnchapel which was acquired by Yacht Havens Ltd and developed into Plymouth Yacht Haven, at the new Mountbatten offices. Current owner Kim Vasey acquired the business in 2010.
Kim, who is moving away from the area, said: “An unexpected change in family commitments required a move to Hampshire, but I will be continuing to support PYB and Dominic with existing listings and in the background going forward with my experience, administrative and technical knowledge as required.”
The new owner, marine safety engineer Dominic Berry, is a master of astrophysics and a Chartered Physicist of the Institute of Physics and has worked in Safety Analysis since graduating. He is a keen sailor and his love of the sea and boats led him to acquire the business. Dominic commented: “I bought the business because I truly love sailing and I love boats. I’ve worked for the military for pretty much my entire career and I was lucky enough to have been involved with ships for the Navy, but I always dreamed of having my own boat.
“I had an opportunity to take over the business from Kim and I jumped at the chance.”
Dominic is looking to expand the business into South Wales, whilst taking additional steps into different boating arenas. He continued: “I’d like to specialise in pleasure yachts but maybe one day might look to offer broader services such as chartering, or specialised holidays for those that would love to sail but don’t have the time or inclination to own their own boat.
“It’s been a pleasure learning the ropes from Kim and I’d love to welcome anyone else to sailing who might never have had the courage to try it before and share my love and passion of the sea with them.”
Kim concluded: “Dominic was the right buyer as his enthusiasm and experience in other areas will provide stability and opportunities for future growth.”
Plymouth Yacht Brokers sells both sail and powered craft for customers located throughout the Southwest. To support the brokerage operations, maintenance and management services are also provided as required. For further information visit: https://www.plymouthyachtbrokers.co.uk
First Peninsula Marine is a specialist business sales and acquisitions agency focused exclusively on the marine and maritime sectors. Operating nationally, it provides a range of services to business owners, trade buyers, financial institutions and private investors. First Peninsula Marine advises on a wide range of instructions from £multimillion corporate finance backed transactions and strategic plc acquisitions to local owner-managed business sales. For further information visit: www.firstpeninsulamarine.co.uk or call 0333 987 3122.
