Burgess Marine has completed the acquisition of the Superyacht centric procurement specialist Global Services and its sister co. Global New Builds.
The acquisition is Burgess Marine’s fifth to date and it’s second since RJD Partners private equity investment in February of last year.
Nicholas Warren, the CEO of Burgess Marine comments: “whilst on paper this is an acquisition the operational reality is far, far closer to that of a merger. We’ll be taking the best bits of both the businesses and putting them together to the benefit of our customers. It’s very much business as usual for the Global team - branding, market positon, strategy and personnel won’t change; that said, over a period of time we’ll definitely be pulling the two companies closer together and moving our own existing procurement business together with Global’s”.
Burgess Marine already handles circa £2.2m per annum of procurement purchasing for the commercial marine and cruise ship sectors, which will eventually sit within the Global Services business. The combined business will also benefit from further synergies due to the fact that Global’s principle procurement channel is that of marine engineering components and Burgess Marine’s core skill is the provision of marine engineering services, thereby providing an enhanced service offering to customers.
Nicholas goes on to say: “there are a phenomenal amount of opportunities to not only increase the portfolio of the individual businesses but to also benefit the whole. Our intent is three-fold; we’d like to deliver both internal efficiencies to our category managers and external savings to our customers by adopting the state-of-the-art software forming Global’s purchasing backbone, we’d like to promote more Superyacht refits to both our Portchester and Palma footprints, and we’d like to offer customers that buy engineering components from Global a full turn-key service including onsite support and installation”.
He concludes by adding: “we’ll also be using this merger to expand both our agency network and our offering within the Superyacht sector. We’ve completed some pretty big yacht projects in recent years to include works on-board the likes of MY Bystander, MY Shemara, MY Amaryllis, MY Alamshar, MY iDynasty and MY Lady A and I am genuinely looking forward to building our name, reputation and service offering further within the Superyacht space”. Richard Gardiner, the Founder and Managing Director of Global will be staying within the newly expanded broader business for the foreseeable future.
Richard comments: “The Burgess Marine Global tie up is great news for so many reasons; we fit, we have a plan, and both parties add tremendous value to each other - the synergies are clear and genuine with the obvious benefits being achievable. Having taken Global literally from the Garden Shed to a major trade sale I am extremely proud of all that we have achieved and I am extremely excited about what the future now holds for the bigger business”.
Financial details of the transaction are undisclosed.
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