Holyhead Boatyard on course for growth
The Holyhead Boatyard Group has set a course for new offshore
business opportunities after securing £2.7 million investment in
the largest debt investment to date from Finance Wales.
Holyhead Boatyard has expanded rapidly in recent years after
securing a number of new offshore energy industry contracts in the
growing renewables market, as well as the oil and gas sector.
The Anglesey-based group has used the investment to purchase two
specialist marine vessels. One vessel is currently servicing the
West African oil industry, and the other, European offshore wind
The Group has invested in a number of new
vessels to meet increased demand for its extensive range of marine
services, increasing its total fleet to 33. This includes
specialist support and crew transfer vessels used to transport crew
and equipment to and from wind turbine towers during construction
and maintenance. It also undertakes boat building and
“With thousands of further turbines planned
for construction off the European coast alone, the Group is well
placed to support companies working on offshore power generation
projects,” explains James Burns, Commercial and Operations
Director, Holyhead Towing Company. Finance Wales’ investment will
help the Group to satisfy its growing order book. We have
been able to recruit more staff and will continue to do so as the
demand from the offshore energy industry grows.”
Nick Colin York, Managing Director of
Holyhead Marine Services added: “As a result of Turbine Transfers
recent success in the renewables market, we need additional shed
space so we can start building our own wind farm vessels.”
Heather Abrahams, Investment Executive at
Finance Wales said: “The Holyhead Boatyard Group has successfully
diversified into a number of new sectors and geographic markets in
recent years including defence, aerospace and energy. The Group has
now established an excellent track record operating in global
markets which provides a solid foundation for further growth.
Finance Wales’ investment will enable it to expand its range of
services even further.”
The Holyhead Boatyard Group has been owned and
managed by two generations of the Meade family since they
established it in 1962 and now employs over 200 staff worldwide.
The Group comprises Holyhead Towing Company Ltd, Holyhead Marine
Services Ltd and Turbine Transfers Ltd. In 2004 the Group won the
tender to design, build and operate a barge for Airbus to transport
the Airbus A380’s wings to the Port of Mostyn.
Holyhead Marine Services has previously
built 67 vessels for a range of customers including the Ministry of
Defence, harbour authorities, and also undertakes maintenance work
for marine companies and the RNLI.
Advisors to Finance Wales on the deal were
DWF Solicitors of Manchester.