Management Buyout of Alicat Workboats & Southboats IOW
Management team led by Steve Thacker and Simon Coote complete MBO of Richards Dry Dock & Engineering Group including Alicat Workboats Ltd and Southboats IOW Ltd from parent Gardline Group.
Recognised as a specialist provider of bespoke marine and engineering services Alicat, which is based in Great Yarmouth, was established in May 2009 as a subsidiary to established shipbuilders and engineers Richards Dry Dock & Engineering Ltd. The business will continue to operate from its current site at Richard Dry Dock in Gt Yarmouth.
Pictured above (left to right): Ed Savory (Birketts), Simon Coote, Steve Thacker and William Kemp (Birketts). Photo courtesy of Birketts.
“As Simon and I enter a new chapter as business owners we feel confident and excited. We are grateful to Gardline for affording us this opportunity and we look forward to retaining a good working relationship with them.”
Steve Thacker, Managing Director at Alicat Workboats
Alicat Workboats was advised by Lovewell Blake and Birketts LLP. The financial value of the deal was undisclosed.