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

Electrical Product Specialists
Hampshire, UK Wide

A great opportunity to take on a respectable electrical control panel manufacturer in Hampshire is now available to the market. High end technology. Registered ECA member. Commercial client base. Skilled team of staff. Excellent reputation. Offers in...

Asking Price: £900,000
Turnover: £578,207

LEASEHOLD


IT, ERP & CRM Solutions & Software Support Provider
UK Wide

Specialises in the provision of Sage 200 and Sage CRM systems, as well as Office 365 and other solutions. The company has developed its own Sage-based solution for a niche sector, which contributes over £1 million to turnover per annum. Established o...

Asking Price: Offers Invited
Turnover: £3,200,000

LEASEHOLD


Smart Meter Installer
North of England, UK Wide

Offers a first-class service in smart meter installations. Has completed over 500,000 meter installations at a completion rate of 85%, higher than the national average. Has the experience required to manage complex projects for clients and boasts a s...

Asking Price: Offers Invited
Turnover: £1,600,000

RELOCATABLE



View more businesses for sale

News Search

Latest News

 
11
 
Aug
 

PPL Corp. seeks sale of Western Power Distribution | BUSINESS SALE

PPL Corporation has announced that it has put its UK utility...

 
10
 
Aug
 

Adelie Foods’ Urban Eat brand acquired by Samworth Brothers | BUSINESS SALE

Samworth Brothers has completed the £6.4 million acqui...

 
07
 
Aug
 

Wrexham-based wire firm falls into administration | ADMINISTRATION

Wire manufacturer Wrexham Wire has fallen into administratio...

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