Covers and sails manufacturer is sold
Plymouth-based Armada Sails has a new owner at the helm.
Armada Sails, based in Yacht Haven Quay, is a regional sail loft specialising in manufacturing yacht, motorboat and dinghy canvas covers and sails, as well as offering a full repair and valeting service. It is a Distributor for Ullman Sails for the South West region. The business supports owners throughout South Devon including the boating hotspots of Kingsbridge and Salcombe, as well as Plymouth.
New owner Nathan Hanley was previously employed at Ullman Sails in Plymouth, and felt it was time for a new challenge.
“I was a sailmaker for 13 years and, when I started to deal more with clients, it seemed a good time to branch out on my own.
“I am learning cover-making skills from Richard during a hand-over period and I am bringing in my sail-making knowledge to carry on growing the business and take it forward.”
First Peninsula Marine provided valuation and transaction support to the deal.
Richard Shelmerdine, the outgoing owner, who founded Armada Sails in 2012, commented:
“I am planning to semi-retire and Nathan has the energy to drive the business forward. There is a serious lack of youth coming into the covers and sails industry, and we need to keep these skills going.
“The business has built up a strong customer base since I started it in 2012, and I know it will be in good hands with Nathan.
“Sean McQuitty from First Peninsula Marine provided an excellent service as usual – I can’t fault him.”
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.