The company that runs a North East marina has announced a merger with another coastal business.
Somerset’s Quay Marinas, which owns the Royal Quays Marina at North Shields, has said it will merge with Dorset-based Dean & Reddyhoff to create one of the UK’s largest marina firms.
The merger is expected to complete in the next three months, with the combined firm having 11 marinas around the UK - the second largest number of sites of any UK company and the widest network, with locations in England, Northern Ireland, Scotland and Wales.
As part of the deal, the companies said they would be investing £10m in their sites over the next five years to improve facilities.
The Royal Quays Marina is based around the historic Albert Edward Dock at North Shields and is regarded as one of the premier boating facilities in the north of England.
Michael Prideaux, managing director of Dean & Reddyhoff, said: “Our customers at all our marinas know what they are getting – a friendly, warm, professional experience and a great atmosphere.
“By merging with Quay Marinas, we will be bringing together the strengths of both companies and our joint ambition is to make our marinas the destination of choice for all types of boaters in the UK, across the whole of the UK.”
Simon Haigh, managing director of Quay Marinas, said: “We are all looking forward to a busy boating season. We are confident that our visitors and berth holders can look forward to us making it even easier for them to spend time out on the water.
“Whether they are cruising, racing, fishing or diving, behind the scenes we’ll be working hard to make sure that our new company puts what our customers want at the heart of our business.”
Both companies said they had “significant history of developing and operating marinas with first rate facilities that are part of the community”.
The new company will have around 150 staff with sites in Northern Ireland, North and South Wales, the South Coast, western Scotland and Royal Quays.
The value of the deal has not been disclosed.
