New owners for Norfolk boat-builders and engineers

By | July 9, 2018

Birketts advises on management buy out at Richards Dry Dock and Engineering Ltd, Great Yarmouth. Photo – from left to right: Ed Savory (Birketts), Simon Coote, Steve Thacker and William Kemp (Birketts)

Management buy-out at Richards Dry Dock Engineering Ltd and Alicat Workboats at Great Yarmouth.

The management at a marine engineering group have completed a management buyout, in a deal advised upon by regional law firm Birketts and accountants Lovewell Blake.

Steve Thacker and Simon Coote have taken on Richards Dry Dock and Engineering and its subsidiaries, including Alicat Workboats, from the Gardline Group.

The financial value of the deal was undisclosed.

Ed Savory led the legal team which included Andrew Ridout, Laura Jones, Lottie Fletcher, William Kemp and Karl Pocock. Matt Crawley led the Lovewell Blake team.

Alicat managing director Mr Thacker said: “Ed and Matt provided us with excellent advice from the outset and throughout the process we were impressed by their quality and professionalism. As Simon and I enter a new chapter as business owners we feel confident and excited.

“We are very thankful for the combined expertise of the Birketts and Lovewell Blake teams who have worked tirelessly to secure the completion of this transaction. We are also grateful to Gardline for affording us this opportunity and we look forward to retaining a good working relationship with them.”