ABC Leisure Group has acquired Nuneaton-based marina and chandlery
Springwood Haven Marina Freehold has been purchased by ABC Leisure Group for an undisclosed sum.
Specialist agency First Peninsula Marine handled the valuation and sale of the marina freehold, boatyard and chandlery businesses.
The Warwickshire inland waterways business offers a range of chandlery, vessel repair and maintenance services, fuel and pump-out facilities, visitor moorings and permanent marina berths.
Situated in a central ‘Heart of England’ location north west of Nuneaton on the Coventry Canal, the purpose-built marina includes a visitor reception, chandlery, offices and stores, as well as a workshop, slipway, two enclosed wet docks and circa 60 marina moorings.
The canalside wharf offers additional visitor moorings and vessel support services.
It was established in 1998 by Adrian and Kay Wagstaff, and has been owned and operated by them ever since. They are now planning their retirement, and are looking to travel with the Dutch barge they built themselves.
Adrian Wagstaff commented:
“We built the marina and initially concentrated on boat building before moving into repairs and repainting services.
“ABC Leisure Group has a wealth of experience in marinas, and I’m sure they will develop the business further and move it forward successfully.
“Sean McQuitty from First Peninsula Marine was fantastic. He supported us through the whole process and we are so grateful for his expertise.”
ABC Leisure Group Limited has been building and operating a hire fleet and providing full marina services to canal users for over 45 years. It owns and operates 14 marinas and a boat building operation.
Carl Onens, Managing Director of ABC Leisure Group, believes the acquisition will be a positive move in the growth of the business.
He said:
“We want to continue to develop the success that Adrian and Kay built during their tenure at Springwood Haven. The business fits into the current model of marinas that ABC Leisure already runs, and we are pleased to have a presence in a new area geographically.
“It is our aim to develop enhanced services to their existing customers, and we are planning a programme of capital investments for the future.”
About Springwood Haven
Springwood Haven offers a range of chandlery, vessel repair and maintenance services, fuel and pump-out facilities, visitor moorings and permanent marina berths.
Situated in a central ‘Heart of England’ location north west of Nuneaton on the Coventry Canal, the purpose-built marina includes a visitor reception, chandlery, offices and stores, as well as a workshop, slipway, two enclosed wet docks and circa 60 marina moorings.
About ABC Leisure Group
ABC Leisure Group has 18 strategically located marinas around England & Wales providing boating holidays, day hire, moorings, narrowboat repairs and maintenance, caravan and camping sites and holiday cottages.
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 to provide a range of strategic advisory 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.
Deal Summary
- Guide Price: £1,500,000
- Financials: Undisclosed
- Transaction Structure: Acquisition of 100% of Share Capital in Springwood Haven Leisure Limited together with the freehold interests in marina, land and buildings by ABC Leisure Group Limited
- Advisors to ABC Leisure Group: HCB Solicitors / Ormerod Rutter Accountants
- Advisors to Springwood Haven Leisure: First Peninsula Marine / Windeattes Solicitors