Marine Disribution Company ‘Seaware’ Sold
First Peninsula Marine Advises on the Sale of Seaware.
Dedicated marine agency First Peninsula Marine has confirmed Completion has taken place on a sale of Falmouth-based marine distribution company Seaware.
Established 25 years ago by husband and wife team Guy and Mary Taylor, Seaware has grown to become one of the UK’s leading marine equipment distributors, specialising in marine fastenings, paints and other equipment, supplying its products all over the UK.
Now, on positive completion of the sale and transfer of the shares in Seaware Limited, ownership has been passed onto another husband and wife team, Paul and Samantha Clark.
“We are delighted to be taking over this very successful and highly respected family business and making it our family business. We’re pleased that by purchasing Seaware from Guy and Mary, they can enjoy their retirement knowing the business will be carrying on with its current staff in Falmouth.”
Paul & Samantha Clark - New owners of Seaware
The commercial sale arrangements were handled by Sean McQuitty, Managing Director of First Peninsula Marine, a company specialising in the sale and acquisition of businesses in the marine and maritime sectors.
Paul said Seaware’s excellent team of employees, and supplier relationships with high quality manufacturers attracted him to the company. Having previously been involved in the hospitality sector, Paul was keen to be involved with a service based industry with lots of customer contact. He explains;
“I had been looking at a number of businesses, and Sean and his team at First Peninsula Marine were very helpful in guiding me through the different options and choices. In particular, I liked the fact that Sean took the time to get to know what business would really suit me and my family. It became clear that as well as making a sound financial choice, it was important that the right business had to also suit our personal lifestyle requirements as well. It was a huge decision, but Sean made us feel comfortable and supported us all the way through. Seaware is a very well liked, successful and highly respected business – its location in Falmouth is an added bonus!”
Paul Clark - Managing Director of Seaware
Sean McQuitty concludes;
“It’s always satisfying to see the successful sale of a business from one family to another. A smooth transition gives the staff confidence in their future, as well as ensuring continuity of service for customers. We’re delighted to have completed this transaction and look forward to seeing Seaware continue to thrive under its new family owners.”
Sean McQuitty - Managing Director of First Peninsula Marine
Seaware specialises in supplying marine equipment, fastenings and fittings to a wide ranging client base which includes boatyards, boat builders and chandleries located throughout the South West of England and beyond via its telesales, online, catalogue and trade counter operations.
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.
- Guide Price: £550,000 + SAV
- Financials: Undisclosed
- Transaction Structure: Share Sale