British superyacht refit yard Burgess Marine has expanded its operations with the acquisition of Exeter-based Global Services and its sister company Global New Builds for an undisclosed sum.
This buyout is Burgess’ fifth to date and the second since receiving private equity investment from RJD Partners in February 2015.
Nicholas Warren, CEO of Burgess Marine, said: “Whilst on paper this is an acquisition, the operational reality is far, far closer to that of a merger. We’ll be taking the best bits of both the businesses and putting them together to the benefit of our customers.”
The refit specialist added that Global Services' key strengths in procuring marine engineering components will complement its existing skills in providing marine engineering services.
Richard Gardiner, founder and managing director of Global Services, who will be staying within the business, praised the deal, saying: “We fit, we have a plan, and both parties add tremendous value to each other.
“Having taken Global literally from the garden shed to a major trade sale, I am extremely proud of all that we have achieved and I am extremely excited about what the future now holds for the bigger business,” Gardiner added.
The acquisition of Global Services brings the total number of facilities in the Burgess Marine group to nine, with other key premises situated in Lowestoft, Dover, Portsmouth and Palma, Mallorca.