Aquavista announces its acquisition of Castle Marinas

Clearwater International has advised LDC-backed Aquavista, the UK-based residential and leisure mooring provider, on its strategic acquisition of Castle Marinas.

Headquartered in Nottinghamshire, Aquavista has 18 UK wide locations, with more than 100 crew members and provides residential and leisure berths, boat sales, floating homes and marine services. The transaction will expand its existing portfolio with an additional footprint of 11 high quality marinas, including Crick Marina home of the world-famous Crick Boat Show and the picturesque Birdham Pool Marina at Chichester Harbour.

Following the acquisition, Aquavista’s new offering will provide 29 marinas and over 5,000 marina berths UK-wide, at both inland and coastal locations.

The investment was funded by leading mid-market private equity firm LDC. Debt facilities were provided by Barings. LDC partnered with Aquavista in December 2018 to support targeted capital investment across the marina estate.  Since then, the business has invested more than €3.5m (£3m) to improve its marina facilities and deliver first-class waterside experiences for its customers.

The Clearwater International team consisted of Partners Richard O’Donnell and Joe Dyke, Director Richard Ellis, Associate Director Kieran Virr and Executives Joe Savage and Chetan Malia.

Steve de Polo, CEO, Aquavista, commented: “The Clearwater team worked very closely with us to deliver this transaction. They were integral to helping us get this deal done, and we are very grateful for their support in navigating an asset backed debt financing and in providing a driven M&A team focused on the acquisition of Castle. It has been an intense process and we couldn’t have done it without them.”

Mike Braidley, Operations Director, Castle Marinas commented: “Castle Marinas is very pleased to have reached an agreement with Aquavista. It is clear how closely our mission statements align, and we believe Aquavista is ideally placed to continue to deliver and, indeed, improve on our commitment to be ‘Big enough to cope, small enough to care’. This transaction will support our waterside teams to continue providing a friendly, helpful and professional service at all our locations.”