UK boatbuilder secures £1.9m funding to double capacity

British boatbuilder Cockwells Modern & Classic Boatbuilding has received £1.88m from the Cornwall and Isles of Scilly Good Growth Programme, managed by Cornwall Council. The funding will support the company’s £2.9m expansion of its South West Shipyard operation located at Ponsharden, between Falmouth and Penryn, on the UK’s south coast.

Cockwells says this investment will enable it to double its manufacturing capacity and create 38 new jobs. The company specialises in building high-end custom yachts, superyacht tenders and motor launches, including the Duchy and Hardy brands, for a global clientele. Cockwells currently employs more than 140 people, with orders extending into 2025.

In September 2024, Pendennis Shipyard acquired a majority stake in Cockwells. Cockwells will continue to operate independently with the existing management team headed by managing director Dean Short, with Dave Cockwell retaining his role of sales and technical director.

The expansion at Ponsharden, supported by this investment, will allow Cockwells to modernise its two fit-out halls, doubling production capacity and reducing customer delivery times to under 12 months. The project includes manufacturing the new Duchy 45 motor launch at Ponsharden, which will create 25 of the 38 new jobs.

“The addition of 38 new jobs at Cockwells will create a range of roles focused on expanding the production team’s capabilities,” Dave Cockwell tells MIN. “Currently, we have several positions available, all advertised on the Cockwells careers page. We are actively seeking skilled boatbuilders and laminators to join our growing team.

“We have already onboarded some of these new roles through our intake of apprentices and are committed to fostering the next generation of talent. Our apprenticeship programme is ongoing, with another intake planned for September 2025.  

“This expansion provides career opportunities for seasoned professionals as well as for individuals who are looking to start and develop their careers in the marine industry.”

Additional features of the upgraded Cockwells facility will include new workspaces, offices and a large-scale paint booth. Investments in solar power, geothermal heating and the planting of 80 trees on site are expected to reduce carbon dioxide emissions by approximately 26,000 tonnes.

“The planned improvements for the fit-out halls at our Ponsharden facility are set to significantly enhance both our working environment and the efficiency of production processes,” Cockwell continues.

“Key upgrades include a new deck-level mezzanine, which will enable boats to be docked in dedicated work areas, providing easy access to the vessels and improving workflow.

“Upgraded systems will also allow production to be monitored more closely, driving continuous improvements in efficiency and waste reduction.

“The design and production offices will directly connect to the build floor allowing for quicker decision-making and enhanced collaboration between design and production teams. New staff welfare facilities will boost morale and productivity, and be easily accessible. We are also installing solar power and a geothermal heating system to both reduce our environmental footprint and provide a comfortable working environment for our employees year-round.

“These changes are designed to modernise our Ponsharden facility, improve the comfort of our team and optimise production processes, leading to a more efficient and sustainable employee-friendly operation.”

Cockwells has also expanded its boatbuilding apprenticeship scheme in collaboration with the Cornwall Marine Network, to increase skills training in the marine sector for Cornwall and the Isles of Scilly.

“This Good Growth investment means that we can build more boats simultaneously and with a faster delivery time, which will open up new markets for our Duchy and Hardy brands both in the UK and across the globe,” says Cockwell. “It will also enable us to cut our carbon footprint significantly and create a more attractive working environment for our fast-growing team while continuing to invest in teaching new skills, nurturing talent in the marine sector, and supporting Cornish suppliers.”

Councillor Louis Gardner, Cornwall Council portfolio holder for the economy, adds: “This is the latest direct investment by the Good Growth programme in a high-quality Cornish business that will boost productivity and create skilled jobs in an important sector for Cornwall and the wider UK. It will also generate considerable additional spending in the local supply chain return the Good Growth investment many times over and contribute significantly to the local economy.”

The Cornwall and Isles of Scilly Good Growth Programme is a £137m local investment fund managed by Cornwall Council and financed by the UK Shared Prosperity Fund. The programme focuses on supporting local businesses and encouraging sustainable, socially responsible growth.