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 Businesses for Sale

Phone & Computer Sales & Repair Business
Liverpool, UK Wide

This is a very exciting high end opportunity with many different income streams from phone, computer, tablet sales and repairs. The business has been trading for 8 years and enjoys a substantial turnover which is derived from shop sales selling phone...

Asking Price: £580,000
Turnover: £390,000

LEASEHOLD


Provider of IT Managed Security to SMEs
South East, UK

Provides a range of managed services including consultancy, user and infrastructure assurance, monitoring, analysis and information security. Focuses on delivering IT and Information Security Managed Services to SMEs. Offers invited.

Asking Price: Offers Invited
Turnover: £1,400,000

LEASEHOLD


IT Outsourcing Company
UK Wide

Services cover IT support, communications, cloud services and security. All clients benefit from a dedicated Accounts Manager. Works with circa 120 active clients, all of whom provide reliable, repeat business. Offers invited.

Asking Price: Offers Invited
Turnover: £1,000,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
15
 
Nov
 

Carpetright agrees to shareholder takeover deal | BUSINESS SALE

Carpetright has agreed a deal to be taken over by its larges...

 
14
 
Nov
 

Scale manufacturer taken over in MBO | MBO/MBI

Weighing scale manufacturer Marsden Weighing Group has been ...

 
13
 
Nov
 

Brighton energy firm appoints administrators | ADMINISTRATION

Brighton-based utilities company Toto Energy has gone into a...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources