Company: Cove Marina, Horning Pleasurecraft Ltd
Business Type: Boat Hire, Marina Operator
UK & International Business Sales and M&A News
Horning Pleasurecraft Ltd has acquired Cove Marina in Brundall, near Norwich, for an undisclosed sum.
Cove Marina is an owner-managed business located on the River Yare on the Norfolk Broads. Comprising of a two-acre site, it has two basins containing 75 moorings and two private moorings. It also offers a crane-out facility for winter storage, an anti-fouling service, and pump-out facility.
The business had a guide price of £1.5 million, with Savills acting as advisors to the vendor David Fletcher, who has been operating the site for over 20 years.
He commented:
“My father bought the land in the 1950s and I have run it as a marina for 23 years. However, it is now time for me to retire and I am very pleased that I am handing over the reins to Clive.”
David Fletcher - Owner of Cove Marina
Horning Pleasurecraft, based on the Norfolk Broads, is a marina operator and boat hire business. It has 85 private mooring berths at Horning, from where it also operates the hire fleet.
It also runs as a repair and maintenance facility for private boat owners, as well as manufacturing its own-design boats from workshops in Catfield and Horning.
Clive Richardson, owner and director at Horning Pleasurecraft Ltd, sees the acquisition as a boost to the business.
He commented:
“We are really happy to be given the opportunity to become the new custodians of the excellent business that David has built over the years.
“Horning Pleasurecraft Ltd operates a marina in Horning with a small hire fleet, so the acquisition of Cove Marina is an ideal complement to our portfolio.”
Clive Richardson – Owner and Director at Horning Pleasurecraft Ltd
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