Company: Port Edgar Marina, West Coast Capital
Business Type: Marina Operator
UK & International Business Sales and M&A News
Investment firm West Coast Capital has acquired Port Edgar Marina in Scotland, securing ownership of the premier waterfront destination on the Firth of Forth for an undisclosed amount.
The investment firm has taken ownership of Port Edgar Holdings Ltd, Port Edgar Marina Ltd and Production Yachts (Port Edgar) Ltd, together with a leasehold agreement with the City of Edinburgh Council that extends until 2100. Under the new ownership, all employees and tenant businesses are secured and will continue operations.
The marina, sited on the Firth of Forth, serves as a hub for sailing and leisure in Scotland. The site features 320 berths, a fully serviced boatyard and tenant businesses, including marine schools, tour operators and retail outlets.
Revenue at the marina comes from berth fees, retail trade and commercial leases.
The site has a long history – the Admiralty acquired it in 1916 and commissioned it as HMS Columbine, establishing it as a base for destroyers. This closed in 1928 and the site buildings were temporarily used as a holiday camp during the 1930s for families of the unemployed from Edinburgh and Glasgow.
With the advent of World War II, the Royal Navy returned to the site in 1939, commissioning it as HMS Lochinvar – a facility for minesweeping. In preparation for D-Day, a combined operations training centre was established in 1943 to prepare landing craft and their crews. After the war it continued as a minesweeping training centre, hosting various mine warfare vessels and carrying out testing of the latest minesweeping equipment until its closure in 1975.
In 1978 Port Edgar was acquired by the former Lothian Regional Council which developed the site into a marina and sailing school.
Outgoing owners Cara and Russell Aitken took over Port Edgar in 2014, and undertook a major redevelopment programme, including dredging works, improved marina infrastructure and upgraded shore facilities.
The Aitkens will step down in the coming weeks after completing a collaborative handover with the new management team, led by Jamie Hunter, Partner at West Coast Capital.
Russell Aitken said:
“We are confident that West Coast Capital are the perfect owners to take Port Edgar forward. The team are committed to further investment and securing the long-term future of the marina. They already invest in Buzzworks, which owns Scotts Restaurant here at Port Edgar, so they understand the huge potential of the site as a leisure destination and have the vision and resources to realise it.”
Russell Aitken - Outgoing Owner of Port Edgar Marina
West Coast Capital is the investment arm of the Hunter Family Office, which focuses on founder-led, profitable, private businesses.
Run by serial entrepreneur and philanthropist Sir Tom Hunter, the firm’s portfolio includes Fintern, THG, Buzzworks and edx medical.
Jamie Hunter commented:
“We are delighted to have made this acquisition from Russell and Cara Aitken who have done a fantastic job developing Port Edgar. We now look forward to investing further in its development and supporting all the businesses based there, not least Scotts, another one of our portfolio investments.”
Jamie Hunter – Partner at West Coast Capital
Aitken concluded:
“We would like to thank all our berth holders, tenants, staff, and suppliers for their incredible support during our time here. It has been a privilege to serve this wonderful community.”
Russell Aitken - Outgoing Owner of Port Edgar Marina
Comments
No comment yet.