Twisted Group has acquired Devon-based marine engineering business

United Kingdom
9th December 2020

Twisted Group has acquired Devon-based marine engineering business

marine engineering business

SMS (Salcombe) Ltd is a traditional marine engineering business located at Lincombe Boatyard in Salcombe, Devon, and has been acquired by the founder of the Twisted Group, Charles Fawcett, for an undisclosed sum.

Specialist agency First Peninsula Marine handled the valuation and sale of the marine engineering business.

SMS specialises in the supply, repair and maintenance of marine engines with established dealerships with Volvo Penta, Yanmar Marine and Honda Marine, as well as carrying out complete refits for yacht and motorboats, plus storage and mooring facilities.

It was founded in 2009, and was owned and operated by John and Rita Bower for the last 18 years. They are now planning their retirement, although John does not rule out a return to the industry.

John Bower commented:

The purchase precedes the launch of Twisted Marine, the new powerboat arm of the Twisted Group, next year, and will be run by Mr Fawcett and managing director Jake Cronk.

The existing team of six will remain with the company, which will be rebranded as Salcombe Marine, to help expand capability and grow the brand.

Mr Fawcett said:

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Mr Cronk is a fully qualified marine engineer and member of the Institute of Mechanical Engineer who has recently worked with the Mercedes AMG Formula 1 and Formula E teams, and is looking forward to taking the new business forward.

Mr Cronk said:

Mr Bower is pleased with every aspect of the sale and sees it as a positive step for the business. His desire was to find the right buyer to continue the business, rather than having to force a retirement closure.

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.

About First Peninsula Marine About SMS (Salcombe) Ltd About Twisted Group

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