New Owner Announced for Penzance Dry Dock
Updated: Jul 14, 2021
Isles of Scilly Steamship Group Completes Successful Sale of Penzance Dry Dock to Marine Engineering Consultancy, Linked Solutions
After more than six months of negotiations, the Isles of Scilly Steamship Group has announced the successful completion of the sale of Penzance Dry Dock (2009) Limited to Penzance-based engineering business Linked Solutions SW Limited. It will continue to be business as usual at the Dry Dock as all current employees will remain employed. Further, Linked Solutions has also pledged to maintain the dry docking facility for leisure and commercial vessels.
The dry dock, which is fully equipped for marine engineering and maintenance activities, has been leased and operated by Isles of Scilly Steamship Group since 2009. But in January this year, the Group announced its intention to concentrate on its core transport business and confirmed they would not renew the lease on Penzance Dry Dock.
Linked Solutions SW Ltd, which provides marine engineering, design and fabrications as well as project management and consultancy services has purchased the entire shareholding of the operating company. The Steamship Group is providing financial support to enable the sale to proceed
The news has had a resoundingly positive response from Cornwall’s engineering and business leaders.
“I’m delighted to see Penzance Dry Dock coming back to life. Penzance is an important element of Cornwall’s maritime infrastructure and the Dry Dock will help establish its forward looking ambitions and regain its place as a provider of suitable marine facilities. We wish the new business every success,” said Kim Conchie DL, FRSA, Chairman Cornwall Chamber of Commerce.
Commenting on the sale, Stuart Reid, Chief Executive of the Isles of Scilly Steamship Group, said: “We are pleased the dry dock operation will be continued under new ownership and we wish Linked Solutions every success in their new business venture”.
The sale has taken more than six months, but the Steamship Company is fully supportive of the transaction and expects to continue to work with Linked Solutions for many years to come.