Mon, 19 Aug 2024 | COMMERCIAL PROPERTY
A civil engineering firm has acquired a marina in the West Midlands for an undisclosed sum. Specialist waterways contractor The Rothen Group has said that the acquisition of Fazeley Mill Marina, located near Tamworth, will provide it with a base to continue its growth plans.
Fazeley Mill Marina is located at the junction of the Birmingham and Fazeley Canal and Coventry Canal and is currently used for moorings. The Rothen Group has acquired the marina from ABC Leisure Group and plans to use it as a new foothold in close proximity to the Birmingham waterways.
The acquisition will enable the group to continue its work in servicing and maintaining the UK’s network of canals and waterways. The deal comes amid a period of growth for the group, which announced record turnover of £7 million earlier this year and revealed plans to build new headquarters at Atherton's Mancetter Wharf.
Birmingham has 35 miles of canals, while the Birmingham Canal Navigations consist of more than 100 miles of canals that provide a connection to several major waterways, including the Grand Union Canal and the Worcester and Birmingham Canal. Following the acquisition, the Rothen Group has said it will invest in the marina, replacing and repairing its mooring facilities.
Ian Rothen, Managing Director of The Rothen Group, commented: "Fazeley Mill Marina marks a significant new chapter for The Rothen Group. It is already a popular spot for mooring, given its central location and local amenities, and we are excited to start work on bringing improved facilities to its users.”
"As a company, we are very passionate about protecting the UK's historic canals and waterways. We will therefore be using the marina as a new strategic base to enhance our operations, bringing us closer to Birmingham and hundreds of miles of critical canals."
ABC Leisure Group Managing Director Carl Onens added: "As part of our strategy to focus on inland waterway marinas for holiday lettings, we believe The Rothen Group's plans for Fazeley align with the best interests of both the marina and the wider UK waterways network."
Companies are increasingly using M&A to keep pace with changes in their industry
An exceptional chance to acquire a distinguished CNC machine tools supplier located in the South of England, known for its exclusive UK agency agreements and proprietary brand offerings. This opportunity is particularly well-suited to individuals or...
This is a rare chance to acquire a UK-based company specialising in high-voltage electrical jointing and terminating services, with a presence across the UK, Europe, and Ireland.
This is an exciting prospect to acquire a well-established heavy and precision engineering business serving both UK and European markets.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.