A controlling stake in Emsworth Yacht Harbour has been sold to an Employee Owned Trust.
The marina was established in 1965 and has been owned by the Wakelin family since the 1990s.
Now the family has sold 80% of the company’s shares to the Trust on behalf of the employees with the Wakelins retaining 20%.
The business is believed to be the first employee-owned marina in the UK.
“As a family we wanted to find a succession plan that would allow EYH to stay as an independent marina for the foreseeable future,” said MD Alison Wakelin, who has been in post since 2006. “Becoming an employee-owned business presented a perfect opportunity to safeguard the future of our community and allow us to continue to deliver a fantastic experience to our many loyal customers.”
As part of the sale, Tom Marfleet will be appointed MD with Alison moving to a non-executive director role.
Under the Wakelin family the marina has grown and now offers a range of facilities including boat berthing, handling and storage plus ancillary services provided by tenant businesses including a restaurant, shipwrights, engine repair and rigging services.
Alison added: “Our business has been built on the foundations of our incredible employee team and it feels amazing to recognise and reward them all by making this move into employee ownership and being the first marina to do so.”
