BWML’s 18 marinas sold
British Waterways Marinas Ltd (BWML), which operates 18 marinas across England, has been sold to its existing management team backed by the private equity investor, LDC.
BWML runs 15 inland marinas, including London’s Limehouse Basin Marina and Pennington Wharf Marina in Manchester, and three coastal marinas at Hull and Lancashire including Glasson Basin. In total, it manages 2,520 berths, of which 699 are residential.
Chris Wright from LDC, which is part of the Lloyds Banking Group, said management would be focusing on ‘delivering improvements across the marina sites and add new locations to further strengthen its brand and market position.’
BWML was a wholly-owned subsidiary of the Canal & River Trust. The sale price isn’t being disclosed, but the trust’s chief investment officer, Stuart Mills, said the proceeds would be reinvested in other ‘incomegenerating assets to support our core work of caring for the nation’s canals and rivers.’
“BWML is performing well and we believe its prospects for future growth are good. Coupled with the expertise of LDC we believe the business will benefit and, by extension, its boating customers will too,” he added.