UK marina operators complete merger

The merger of UK marina operators Dean & Reddyhoff and Quay Marinas has now been implemented. The transaction brings together 11 marinas on the UK south coast, Bristol Channel, Irish Sea, the Clyde and East coast. A new nationwide cruising pass has been issued for berth holders offering access to the UK’s second largest coastal marina group’s portfolio of facilities.

The new cruising pass was launched at the Southampton International Boat Show and was designed so annual berth holders can make the most of cruising around the family of 11 marinas for up to 300 nights.

While the deal is described as a merger, the change of directorships as recorded in Companies House (the UK businesses register) suggest that it is more of a takeover of Quay Marina facilities by the Dean & Reddyhoff group. The combined group will operate 11 marinas with some 4,000 berths and 150 staff, plus it will also operate boat yards, boat repair and maintenance and boat sales.

Michael Prideaux, group managing director of Dean & Reddyhoff, says: “It has been a really vibrant summer helping our berth holders and visitors get afloat and have fun out on the water. We are proud to offer so much more than a lovely place to keep your boat – with our boat care, boat sales, sailing schools, shops and restaurants. We are looking forward to sharing our maritime skills, knowledge and experience and creating a truly nationwide marina group.”

Simon Haigh, managing director of Quay Marinas, comments: “Our marina teams have been getting to know each other over the summer and we have loved welcoming berth holders who have been exploring all that we have to offer in our new group. Whether you are sailing, cruising, fishing or learning about all things boating, we can’t wait to make it easier for our berth holders and visitors to get out and about on the water.”

In the lead-up to the merger being completed, a number of corporate actions occurred. At Quay Marinas there was a change of the owner with significant control with Andrew Temple Yates being replaced a significant holder by Quay Marinas Group Ltd which held at least 75% of the Quay Marinas assets.

Subsequent to the change of significant control, Temple Yates’s directorship of Quay Marinas Ltd was terminated and Prideaux, the group MD of Dean & Reddyhoff, was appointed a director. The latter company has a multi-layered corporate structure with the ultimate holding company being D&R Topco Ltd, which then works through three holding companies – D&R Bidco, D&R Cleanco and D&R Midco respectively, which in turn hold the shares in Dean & Reddyhoff Ltd, Deacons Boatyard acquired in 2017, and Marine Power & Servicing Ltd, also acquired in 2017.

At this stage of the merger there does not appear to be a holding company for both the D&R and Quay Marinas Group. Also, no statement appears to have been made as to whether the 11 marinas will continue to operate under the two brandings or if one will be introduced.