LDC has invested in British Waterways Marinas Limited (BWML), the largest operator of inland marinas in the UK, backing the existing management team.
Established in 2004, as part of the Canal & River Trust, BWML operates and maintains 18 marinas across the UK with more than 2,500 boat moorings across its sites. Its locations offer a wide range of services including residential and leisure moorings, chandlery, maintenance and repair works.
The investment, for an undisclosed sum, will support the development of the existing marina estate to continue to improve the customer experience, broadening leisure services and adding new locations.
As part of the transaction, Gary Fletcher will join the board of the business as Non-Executive Chairman. Gary has more than 20 years of experience in the leisure sector. The transaction was led by LDC Director Chris Wright and Investment Manager Chris Morris. Chris Wright and Andy Grove, LDC’s Head of New Business, will join BWML’s board as Non-Executive Directors.
Jeff Whyatt, CEO of BWML, said: “We have always operated as a commercial entity and have strived to deliver the best possible experience to our customers who visit and reside in our marinas. In LDC we have found a partner that is willing to invest in the management team and site network which will benefit from new and improved facilities to the benefit of our growing customer base.”
Chris Wright, Director at LDC in the South, said: “We are excited to be able to provide the investment to support Jeff and his team in growing this established brand in order to enrich the experience of its marina users. With our support, management will focus on delivering improvements across the marina sites and add new locations to further strengthen its brand and market position.”
LDC was advised by DC Advisory and Gateley plc.
Canal & River Trust was advised by BDO LLP, Vail Williams and Bevan Brittan LLP.