Company: Cockwells, Pendennis Shipyard
Business Type: Boat Builder
UK & International Business Sales and M&A News
Pendennis Shipyard, which operates a custom superyacht build and refit facility in Falmouth, Cornwall, has taken a majority interest in Cornish firm Cockwells Modern & Classic Boatbuilding.
Pendennis Shipyard has been operating for over 35 years, employs over 550 tradespeople and offers services including refit, restoration and bespoke boatbuilding for sailing and motor yachts.
Toby Allies, Managing Director of the Pendennis Group, said:
“Cockwells shares many of the values that are integral to the Pendennis Group and serves many of the same customers and contacts. Partnering with Cockwells will expand Pendennis’ offer to our client base within the superyacht sector.
“Cockwells’ activity complements our core group strategy and with the company’s strong forward order book and ambitious plans for expansion, we are excited to welcome Cockwells to the Pendennis Group.”
Toby Allies – Managing Director of the Pendennis Group
Cockwells, founded by Dave Cockwell, has been building bespoke superyacht tenders, motor launches and sailing yachts in Mylor Bridge, Falmouth, for over 28 years. The company now builds Duchy and Hardy semi-production vessels as well as bespoke, luxurious superyacht tenders. It also offers on-water fleet services, including annual care packages and one-off services.
Cockwell commented:
“Over the past 28 years, we have grown from renting a tiny space in Underfall Boatyard in Bristol with one apprentice, to operating three sites in Cornwall with more than 140 employees. I am delighted that we are joining forces with the Pendennis Group.
“With the backing of an established global superyacht brand, Cockwells will grow further and meet the demands of our ever-increasing client base.”
Dave Cockwell – Founder / Sales and Technical Director of Cockwells
Cockwells and Pendennis have worked together for many years with a number of Pendennis superyachts having commissioned Cockwells’ highly customised tenders and, following the acquisition, both companies will continue the partnership to develop their in-house teams.
Cockwells will continue to operate independently with the existing management team headed by Dean Short.
Managing Director Short said:
“Cockwells has been actively seeking support in the marine sector to move the business to the next phase in its business plan – including the production of this year’s new model, the Duchy 45. Fellow Falmouth-based superyacht builders and refitters, Pendennis, are perfectly placed to provide that support and we are delighted to be moving forward with them.”
Dean Short - Managing Director of Cockwells
The Pendennis Group consists of Pendennis Shipyard, a dedicated superyacht service facility in Falmouth; a Mediterranean marina and Technical Service Centre near Barcelona – Pendennis Vilanova – and a luxury bespoke interior manufacturer, Norfolk Interiors.
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