Company: SeaRegs
Business Type: Training Provider
UK & International Business Sales and M&A News
First Peninsula Marine is pleased to announce the sale of SeaRegs after it was purchased by Ryan Tozer.
SeaRegs, the market leading certified commercial and leisure boating training company based in Plymouth, has been acquired by Ryan Tozer, Managing Director of iPowerboat.
Simon and Vicky Jinks used their substantial maritime training experience to establish SeaRegs in 2010, initially running MCA courses. The company grew to now training 2,800 people a year in STCW, MCA SQA and RYA courses and marine apprenticeships, on seven boats, and across seven classrooms, with a dedicated and experienced staff team, achieving an Ofsted ‘Outstanding’ rating at its first inspection.
The business has a robust reputation for apprenticeships, with Ofsted stating “SeaRegs’ leaders work skilfully with employers to teach apprentices the skills they need to fill the skills gaps left by an ageing workforce”.
Simon Jinks said:
“We have always tried to grow from within our workforce, and continuous training and training pathways for new instructors has been key to upskilling and making our own talent pool.
“We are asked to consult at MCA and Nominated Bodies for codes/regulation and we are part of consultative groups working with Institute for Apprenticeships and Technical Education to help develop and review apprenticeship and training standards nationally.”
Simon Jinks - Co-founder of SeaRegs
Tozer is the Managing Director of iPowerboat, a marine training centre based in Scotland, providing powerboat, workboat, navigation, sea survival and short courses for both the commercial and leisure sectors. Tozer gained training experience working for a similar business before founding iPowerboat in 2011, aged just 20.
He commented:
“Whilst setting up iPowerboat, SeaRegs was a company I aspired to. I respected Simon and Vicky massively. Our goal was to look at working towards a SeaRegs-type acquisition in the future then, a couple of months later, we found out by chance that it was for sale.”
Ryan Tozer - Founder of iPowerboat
Specialising in commercial workboat training is a niche sector that Tozer wanted to develop further:
“SeaRegs is a natural choice for us. There are lots of training centres offering maritime courses all over the UK, but only a few that specifically focus on the commercial workboat sector.
“As SeaRegs was located at the other end of the country to iPowerboat it meant it was more of a friend than a competitor, so our relationship has always been positive.”
Ryan Tozer
The future of both companies is clear to Tozer – to maintain strident training facilities, with potential crossover and amalgamation of courses in both Plymouth and Scotland, under the newly-launched Tozer Holdings Limited.
“The initial plans are to keep everything running, and maintaining the standards Simon and Vicky have established.
“I am really excited and enthusiastic about developing the apprenticeship schemes to assist people into the maritime industry.”
Ryan Tozer
The Jinks are confident that SeaRegs is in safe future hands with Ryan:
“Ryan knows the sector well. He has done quite a bit of training with us along the way and he is a very knowledgeable guy who has a similar ethos.”
Simon Jinks
Whilst Simon and Vicky are stepping back from SeaRegs, they will continue to work in the marine sector. Jinks continued:
“We will be assisting Ryan in the short term before returning to our roots and offering regulatory safety management and auditing advice and guidance with our company MarineComply Ltd.
“The key reason for the sale is to have a bit more time for ourselves and get a greater work/life balance. It will be nice to hand it over to someone who can focus on its continued growth and strength in the marketplace.”
Simon Jinks
The Jinks can now reflect on the success they created:
“We have met some great companies and people along the way and have continued to learn and grow as individuals and as a company. We have come a long way and always looked at supporting this great industry.
“We would like to thank the staff who have been with us over the years. We couldn’t have wished for better and they are without doubt the strength of a training centre. We would also like to thank the employers and individuals who have used us and stood by us over the years – they have been great.”
Simon Jinks
About SeaRegs
SeaRegs is a certified commercial and leisure boating training company specialising in internationally recognised STCW, MCA SQA and RYA courses and marine apprenticeships. It provides training for masters, skippers, instructors and crew to international standards from its purpose-built waterside headquarters in Plymouth, as well as across the UK and worldwide.
Its experienced instructors deliver shore-based courses via its onsite classroom and workshop facilities, dedicated high-tech simulator training, online teaching and practical on the water instruction from its fleet of various yacht and motor vessels, including a Lochin 33 workboat, a Halmatic 10 pilot boat, a Bavaria 36 sailing yacht and two XS Commercial RIBs.
About iPowerboat
iPowerboat is a marine training centre, providing all forms of powerboat, workboat, navigation, sea survival and short courses for both the commercial and leisure sectors, with centres in Kinlochleven and Greenock.
Courses are RYA, MCA, STCW, Lantra and Highfield approved, with specialist courses designed for the workboat industry.
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, it provides a range of 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.
Deal Summary
- Guide Price: £1,000,000
- Financials: Undisclosed
- Transaction Structure: Acquisition of 100% of Share Capital in SeaRegs Training Ltd by Tozer Holdings Limited
- Advisors to Tozer Holdings: Pegasus Funding Solutions / Scott Bailey LLP
- Advisors to SeaRegs Training: First Peninsula Marine / Elevate Legal
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