The BDO Southampton M&A team acted as lead adviser to the Canal & River Trust on its sale of British Waterways Marinas Limited (BWML) to Lloyds Development Capital (LDC).
Originally formed as part of the governmental British Waterways Board, BWML is the largest operator of inland marinas in the UK providing over 2,500 berths across 18 mainly inland marinas to all types of waterborne craft. The 18 marinas are located across the UK, including several around London and two close to Canary Wharf.
The acquisition of BWML allows LDC to acquire a market-leading operator in the sector at the same time as strengthening their presence in the UK leisure sector.
“I was delighted to have the support of the BDO Southampton M&A team to ensure the successful sale of our subsidiary company, BWML. In a complex transaction with a number of challenges during the process, BDO’s leadership and tenacity helped to secure a successful outcome for us. I appreciated their focus, hard work and dedication and would have no hesitation in recommending this BDO team.”
Sandra Kelly, Finance Director, Canal & River Trust
“It was great to work with the BDO M&A team. They showed real drive and determination to understand our business and produced a first class marketing document for potential buyers to absorb. There were a few twists and turns along the route and each time BDO helped to steer everything back on course - their leadership and guidance were superb. I would be delighted to work with them again and can thoroughly recommend them.”
Jeff Whyatt, Managing Director, BWML