Pendennis acquires majority stake in Cockwells

Pendennis Shipyard has taken a majority interest in Cornish boatbuilder Cockwells Modern & Classic Boatbuilding.

Dave Cockwell, founder of Cockwells Modern & Classic Boatbuilding, and now sales and technical director, has spent 28 years growing the company from its humble beginnings. With Cockwells now building Duchy and Hardy semi-production vessels as well as bespoke, luxurious superyacht tenders, global demand for Cockwells’ boats is increasing along with their size. 

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.

Cockwell comments: “Over the past 28 years, we have grown from renting a tiny space in Underfall Boatyard in Bristol with one apprentice, to operating three sites in Cornwall with more than 140 employees. I am delighted that we are joining forces with the Pendennis Group. With the backing of an established global superyacht brand, Cockwells will grow further and meet the demands of our ever-increasing client base.”

Cockwells will retain its current production facilities at Mylor and at the Southwest Shipyard in Ponsharden, Falmouth.

Jo Cockwell, marketing director at Cockwells, says: “This development is great news for the staff at Cockwells, as it ensures job security for all of our current staff and enables them to be part of our next stage of growth at Cockwells. We are also actively searching for more additional team members to join us in this exciting period of expansion.”

Pendennis Shipyard is one of the world’s leading superyacht refit and custom build facilities and is based in Falmouth, Cornwall. Cockwells and Pendennis have worked together for many years with a number of Pendennis superyachts having commissioned Cockwells’ highly customised tenders.

Short says: “Cockwells has been actively seeking support in the marine sector to move the business to the next phase in its business plan – including the production of this year’s new model, the Duchy 45. Fellow Falmouth-based superyacht builders and refitters, Pendennis, are perfectly placed to provide that support and we are delighted to be moving forward with them.”

Both companies have established a strong reputation for all facets of skilled yacht construction, developing highly skilled teams, apprentice training, and will collaborate to further strengthen and develop their internal teams.

The Pendennis Group consists of Pendennis Shipyard in Falmouth, a Mediterranean marina and technical service centre near Barcelona – Pendennis Vilanova – and a luxury bespoke interior manufacturer, Norfolk Interiors.

Toby Allies, managing director of the Pendennis Group, says: “Cockwells shares many of the values that are integral to the Pendennis Group and serves many of the same customers and contacts. Partnering with Cockwells will expand Pendennis’ offer to our client base within the superyacht sector.” He adds: “Cockwells’ activity complements our core group strategy and with the company’s strong forward order book and ambitious plans for expansion, we are excited to welcome Cockwells to the Pendennis Group.”

Main image courtesy of Stuart Pearce / Yacht Shot.