BOATPro caught up with Pendennis group managing director Toby Allies about the British yard’s refit-led strategy, workforce investment and international growth as the UK navigates a changing superyacht market...
Pendennis is sharpening its focus on refit and lifecycle services while continuing to operate in the new-build sector as the UK’s position in global yacht construction evolves, according to group managing director Toby Allies.
“The UK superyacht sector is much more than new construction,” Allies says, pointing to the country’s strength in service, design and OEM supply. While new-build output has seen some softening, he emphasises that the UK remains a highly capable and competitive market, noting that refit activity remains a significant part of the overall sector, with Pendennis “punching well above our weight”.
That positioning reflects a broader strategic shift. “That has certainly been our goal,” he says of establishing Pendennis as a refit centre of excellence, citing a growing global fleet and the yard’s expanded Mediterranean presence as key drivers of long-term demand. At the same time, Pendennis continues to deliver custom new-build projects, including recent deliveries such as 34.9-metre Fox (2024) and 39.4-metre Halekai (2020).
Founded nearly four decades ago, and guided from its infancy by Henk Wiekens and Mike Carr, the Falmouth-based business has evolved into a multi-site group spanning refit, custom build, restoration and conversion. “It’s been an incredible journey with people firmly at the heart of the business,” Allies says. “We have continually invested in our facilities as well as the team to provide a world-class service to the global superyacht fleet.”
A major inflection point came in 2019 with the launch of Pendennis Vilanova near Barcelona, followed by the acquisitions of Norfolk Interiors in 2021 and Cockwells in 2024. Together, these moves have created what Allies describes as “a diverse yet interconnected network” combining British craftsmanship with international reach.
Refit activity remains the core engine of the business. Current projects in Falmouth range from six- to nine-month winter works on large motor yachts to early-stage restoration of a 38-metre classic. The yard is also preparing for an influx of Caribbean-returning yachts requiring short technical periods.
Growth is increasingly coming from newer segments. Allies highlights “increasing potential in the exploration and support vessel segment” alongside rising demand for lifecycle modernisation, as yachts built 20 to 30 years ago undergo major upgrades to extend operational life and meet modern standards.
Competition in the global refit market remains intense, but Allies is unequivocal on Pendennis’ differentiator: “It can be summed up in two words – our people.” He points to the yard’s track record on complex, award-winning projects and its emphasis on long-term client relationships rather than one-off contracts.
That focus is underpinned by investment in workforce development. The group employs just under 700 people across the UK and Spain, with around a third having come through its apprenticeship programme. “The apprenticeship programme underpins our labour development, growth and succession,” Allies says, as the sector continues to face pressure on pricing, delivery and labour availability.
Infrastructure investment is also ongoing. Pendennis currently handles between eight and 12 projects a year in Falmouth and is encouraging clients to plan refits at least 12 months in advance. Recent upgrades include a digital manufacturing centre, integrating 3D scanning and CNC capability to bring more precision work in-house and reduce reliance on external suppliers.
Location remains a core advantage. “Vital,” Allies says of deep-water access, sea trial conditions and Cornwall’s maritime heritage, describing them as “part of our DNA”.
The group’s heritage credentials continue to play a key role, particularly in complex restoration work. From J-Class yachts such as Shamrock V, Velsheda and Ranger to 20th-century classics including Marala and Malahne, Allies says the team combines technical expertise with an understanding of “respecting heritage” and the practical challenges of working on traditional designs.
Strategically, the 2024 acquisition of Cockwells is already delivering operational benefits. Proximity in Falmouth allows resource sharing and closer collaboration, while also opening up new product lines. The group is now exploring how to extend Cockwells’ tender offering to its Mediterranean base in Vilanova.
Sustainability is also becoming a more prominent driver of refit activity. Pendennis has already delivered multiple efficiency upgrades, including a recent project installing a new main engine, batteries and switchboards on board Jester. “We definitely see this trend continuing,” Allies says.
Looking ahead, the focus is on integration and incremental growth rather than rapid expansion. By 2035, Allies expects the group to be “maximising the full potential of our existing sites”, while increasing collaboration between its different businesses to offer a more comprehensive service to clients.
Leadership, Allies says, is rooted in teamwork. “It’s all about surrounding yourself with a strong team,” he notes, highlighting a senior group structure that shares strategic responsibility across the business. Pendennis’ biggest challenge to date was steering the company through Covid-19. “We had to adapt and overcome,” Allies says, with some changes – including flexible shift patterns – now embedded.
Despite market shifts, Allies remains confident in the long-term outlook for both Pendennis and the UK sector. While new-build volumes may fluctuate, he sees a sustainable future built on a combination of construction, refit and restoration – anchored by skills.
Ultimately, his ambition is clear: for Pendennis to be recognised “as a leader in the development of talent within the superyacht industry”.