Sullivan Street Partners has acquired three UK-based marine infrastructure companies with combined revenues of more than £50m.
The private investment firm has acquired Teignmouth Maritime Services (TMS), Hesselberg-Hydro, and Marine Plant Hire (UK) Ltd (MPH) a marine plant charter and hire company, primarily supporting marine construction activities.
The companies, based in Devon, specialise in repairs, construction, and redevelopment projects across waterways and tidal coastal environments.
Following the deal, the businesses have been integrated under the Ancora Group, with the aim of expanding their presence across the UK.
Hesselberg-Hydro, TMS and MPH work with a range of bodies including the Environment Agency, harbour authorities and private owners.
These are brilliant businesses, with a high-calibre workforce.
Richard Sanders
Founders Peter Stenner, Roger Smith and companies senior executives will continue to work with Sullivan Street Partners to develop a national marine infrastructure group, supported by a team of marine engineers.
“These are brilliant businesses, with a high-calibre workforce, motivated to solve problems and make good the challenges our coastline and inland waterways are facing,” said Richard Sanders, founder and managing partner at Sullivan Street Partners.
“Together with Peter and Roger we will create a national marine infrastructure group with its own equipment and self-taught engineering staff, to get the UK to where we need to be.”
Peter Stenner, founder and CEO of TMS, added: “Over the past 30 or more years, we’ve built the group with the support of dedicated friends and colleagues who have helped us attain the position that we are in today.
“With the partnership between Sullivan Street and ourselves, I’m confident that we are now in a strong position to tackle new challenges and take the group to even greater heights.”
