Ship repair sale
The Cardiff-based Bailey Group has taken control of the A&P Group, one of the UK’s leading ship repair and marine services businesses for an undisclosed sum.
Cardiff-based Bailey Group has taken control of the A&P Group, one of the UK’s leading ship repair and marine services businesses, for an undisclosed sum.
Property developer and entrepreneur Paul Bailey, who took a 50 per cent stake in the group in September 2006, has purchased the remaining 50 per cent shareholding held by a number of A&P directors and senior managers.
The deal was concluded at the end of last week after six weeks of detailed negotiations.
Bailey said that the new structure would further strengthen the group, which had returned good profits over the previous three years, with new investment and management.
A&P was founded in 1971 and has become a major force in ship repair, conversion and marine services. Its clients come from more than 70 countries and include government departments and commercial shipping lines.
The company employs 600 staff at four locations across the UK - Hebburn on Tyneside, Middlesbrough in Teesside, Chatham in Kent and Falmouth in Cornwall.
Register now to continue reading
Thanks for visiting The Engineer. You’ve now reached your monthly limit of news stories. Register for free to unlock unlimited access to all of our news coverage, as well as premium content including opinion, in-depth features and special reports.
Benefits of registering
-
In-depth insights and coverage of key emerging trends
-
Unrestricted access to special reports throughout the year
-
Daily technology news delivered straight to your inbox
Fusion inches closer as ITER completes magnet system
The problem with a Tokamak shape for the fusion plasma, is that the magnetic field from the central solenoid reduces from the centre outwards, leading...