Company: Farndon Marina, Tingdene Group
Business Type: Marina Operator
UK & International Business Sales and M&A News
Farndon Marina has been acquired by Northamptonshire-based Tingdene Group, following the retirement of the previous owners.
Located on the River Trent near Newark in Nottinghamshire, Farndon Marina has been owned by the Ainsworth family since 1966, when the 25-acre freehold site was originally purchased and developed by local businessman and boating enthusiast Mark Ainsworth, before being managed by Mark’s son Paul and his wife Janet.
The marina comprises over 300 private berths and moorings, with berthing fees and chandlery sales forming the backbone of the business, together with boat sales brokerage and marine services, which incorporates repair, maintenance and boat lifting, together with fuel and pump-out services.
Recent investments had been made in technology to improve day-to-day operations, site security and enhance the customer experience, as well as the development of amenity buildings including workshops, visitor facilities and office space, with new pontoon walkways installed during the marketing process.
Ainsworth said:
“The sale of Farndon Marina marks the end of an era for Janet and I. It has been an emotional journey to come to the point where we will hand the business over to new owners. We have made many friends with our berth holders over the years, and we are confident that the success of Farndon will continue with the fantastic team we have on site, who will continue to be great assets to the marina.”
Paul Ainsworth - Managing Director of Farndon Marina
The Tingdene Group is family-owned and develops and operates residential parks, leisure parks and inland marinas. This latest acquisition adds more than 300 berths to the group’s national portfolio and brings the number of marinas under its management to 11.
Ian Collier, Managing Director of Tingdene Group, commented:
“As a family business ourselves, we immediately understood the great opportunity Farndon Marina presented and the work that Paul and Janet had put in over the years. Location-wise, the business extends our marina network northwards, but from a wider group perspective which includes both holiday and residential parks, it is very centrally positioned in the East Midlands which works well for us.
“We are excited to welcome Farndon to the Tingdene family and will be looking at a number of investment opportunities over the coming months which, alongside the marina, could include holiday park, motor home and touring caravan facilities and perhaps floating lodges which we’ve successfully introduced at some of our other marinas.”
Ian Collier – Managing Director of Tingdene Group
Ethan Zone, Strategy Director for Tingdene Group, added:
“We would like to thank Paul Ainsworth for his work and support through the transaction and for trusting us with the marina that has been in his family for generations. The acquisition of Farndon Marina marks a strategic step north in our expansion programme, providing a valuable foothold in the East Midlands. We continue to expand our marine portfolio across the UK, adopting our long-term value and investment principles.”
Ethan Zone – Strategy Director for Tingdene Group
Farndon Harbour Moorings Limited were represented by Browne Jacobson and Xeinadin and Tingdene Group by Shoosmiths and the sale process was handled by Christie & Co.
Ainsworth concluded:
“This has been more than just a business – it’s been part of our family’s identity for decades. I am delighted to hand over the helm to another family-owned group that shares our passion for the waterways and our dedication to serving the boating community.
“I’d like to thank everyone who has supported us over the years and look forward to seeing Farndon Marina thrive as part of the Tingdene Marinas network. We had the support of excellent advisors to guide us through the process from start to finish and the Christie & Co team were always on hand to help.”
Paul Ainsworth - Managing Director of Farndon Marina
Comments
No comment yet.