The UK-based Alicat Workboats Limited has concluded a management buyout of Richards Dry Dock and Engineering from parent company Gardline Group.
Alicat said that the buyout will see all the group’s operations consolidated back to its main small vessel build and repair facility in Great Yarmouth, UK.
The crew transfer vessels (CTV) constructed by Alicat and its sister company South Boats IOW Ltd will retain their current branded design range and are still available to be built at the Great Yarmouth facility or under an approved license agreement.
According to the company, the business will remain as usual with multiple projects in progress, while continuing the support and work with existing and new clients.
“As the business enters a new chapter we feel confident and excited, and are very thankful of all the companies past and present employees that have all helped to establish Alicat as one off the UK leading boat builders, repairers and suppliers of electrical services throughout the marine industry,” the company stated.
“The management team are also grateful for the combined expertise of the Birketts, Norwich and Lovewell Blake, Great Yarmouth teams who have worked tirelessly to secure the completion of this transaction.”