New private equity firm acquires marine and renewables company
Thu, 24 Oct 2019 | MBO/MBI
CastleMill Equity Partners, a new private equity firm, has acquired marine and energy company Manor Energy Group in a deal supported by Shawbrook Bank. The deal represents the first major investment by CastleMill Equity Partners, led by Rob Asplin and Conrad Lee.
Dorset-based Manor Energy provides temporary power and engineering services for offshore wind farms through its subsidiary Manor Renewable Energy and vessel construction and maintenance services through Manor Marine.
As part of the deal, a founder shareholder will leave. However, the acquisition will also see CastleMill provide continued support for Manor Energy’s high-growth plan, offering strategic and commercial expertise as Manor Energy looks to grow its operations and maintenance division.
Ian Moody, relationship director at Shawbrook Bank, commented: "Manor Energy Group is a very impressive business and we’re delighted to become their funding partner through this acquisition.”
Moody added: "We’re also working with a number of sponsors and it’s great to see what Rob and Conrad are building in CastleMill, particularly how they’re focused on supporting expert management teams to an extent that goes way beyond the provision of capital.”
CastleMill Equity Partners co-founder and managing director Rob Asplin said: "We’re clearly thrilled to now be a part of the Manor Energy Group story. We came up with the idea for CastleMill because we believe the role of private equity goes beyond the provision of capital.
"The experienced team at Manor are impressive and know their market and the business they’ve created better than anyone else. It’s a pleasure to now work with them and we can add our broad commercial experience, strategic support and our investment partners’ wealth of expertise and contacts to help continue the Manor success story.”
Share this article
Latest Technology Businesses for Sale
Structured Cabling, Wifi and Network Installation
North of England, UK
The company provides tailored cabling and network solutions, including design, implementation, and maintenance. The business offers its services across the UK to a wide range of market sectors, such as finance, retail, hospitality, and commercial in...
Managed Service Provider/IT Solutions
UK Wide
Fantastic opportunity to acquire a majority or part-shareholding in a managed service provider/IT support solutions business, servicing a broad range of B2B clients with exponential growth opportunities.
Development, Hosting & Optimisation
UK Wide
An opportunity exists to purchase the business and assets of a UK based provider of website design and development, web hosting and web optimisation business operating two separate entities covering the north and south regions of England.