Published on: 04 August 2022
First Peninsula Marine is pleased to announce the sale of Bryher Boatyard, after it was purchased by new owners.
Bryher Boatyard on the Isles of Scilly is an established business, dealing in boatyard services and vessel maintenance, boat and watersports equipment hire (known as Isles of Scilly Boat Hire), as well as offering a chandlery and gift shop. Vessels available for hire include Sealegs, Powercats and Island Pilots, and there are 52 moorings available on Tresco, Bryher, St Mary’s, St Martin’s and St Agnes.
Bryher Boatyard was originally founded in 1990 and, together with the Isles of Scilly Boat Hire, is considered by the Duchy of Cornwall to be one of a number of essential services businesses that contribute to the delivery of island life and the Isles of Scilly experience.
Richard Drew and his wife Sheila joined Bryher Boatyard in 2008 as managers, and purchased it shortly afterwards, before joining forces with Chris Jenkins from St Mary’s to establish the boat hire side of the business.
Richard commented:
“The business went from strength to strength with the expansion of the boat hire fleet and the introduction of the amphibious Sealegs boats. We also constructed our chandlers shop and went into kayak hire.
“We worked very closely with Tresco Estates as the vast majority of our business were from Tresco holiday customers.”
Richard and Sheila are now looking forward to their retirement. He continued:
“We are delighted that Ben Andrews has taken over the business, and it is comforting to see a family living there.
“Sheila and I have a motorhome in which we plan to explore the UK and further afield in the future.”
First Peninsula Marine acted as advisors and agents to Bryher Boatyard. “We are delighted with the services of First Peninsula Marine,” Richard added.
Deal Summary
Guide Price: £575,000
Financials: Undisclosed
Transaction Structure: Acquisition of 100% of Share Capital in Bryher Boatyard Limited & Scillonia Boatshare Limited
Advisors: First Peninsula Marine / Scott Bailey LLP / Bartons Solicitors / TaxAssist Accountants
About Bryher Boatyard
Bryher Boatyard on the Isles of Scilly is an established business, dealing in boatyard services and vessel maintenance, boat and watersports equipment hire (known as Isles of Scilly Boat Hire), as well as offering a chandlery and gift shop.
For further information please visit: http://islesofscillyboathire.com
About First Peninsula Marine
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 please visit: www.firstpeninsulamarine.co.uk
