Family-owned marine engineering company sold to French boating distributor
AR Peachment, based in Norfolk, has been sold to the French recreational boating distributor Alliance Marine Group.
AR Peachment was launched in 1966 by Tony Peachment and wife Daphne, and is now run by their sons Kevin and Andrew. The business provides marine mechanical, hydraulic and electrical systems support, supplying and partnering many of the leading charter fleet operators throughout the inland waterways of Europe. It is also the UK & Ireland distributor of Nanni Diesel marine engines.
Kevin Peachment said it was “a very exciting time” for the business.
“We look forward to the new prospects and new challenges ahead that come with being a part of an enlarged group. This opens a new chapter for AR Peachment to move forward, and will strengthen our customer base Europe wide and we will be taking advantage of new opportunities.”
Based in La Garde in France, the boating distributor Alliance Marine Group designs, develops and manufactures proprietary products including safety at sea and rescue equipment, as well as distributing boat fit-out and maintenance complete solutions.
Advising on the sale was Mark Watson from Ashtons Legal’s Corporate and Commercial Team, assisted by Charlotte Vallins and Jessica Piper. Chris Bidgood at Lees Accountants provided accounting and tax advice.
“AR Peachment is a well-known and well respected local marine business which can look forward to the next stage of its development as part of the Alliance Marine Group.
“I have known the shareholders at AR Peachment for some time and it has truly been a pleasure to advise them on this transaction. I wish them and the business every success in the future.”
The team of 10 at AR Peachment will remain, with brothers Kevin and Andrew Peachment continuing as managing director and technical director respectively.
Picture (from left): Jessica Piper, Andrew Peachment, Anthony Peachment, Daphne Peachment, Kevin Peachment, and Mark Watson of AR Peachment – Credit: Ashtons Legal