International law firm Womble Bond Dickinson (WBD) has advised on a transaction to enable a new marina company to acquire a number of marinas in Wales and the South West.

Western Marinas Limited (Western Marinas) will acquire Cardiff Marina, the operating lease for Watchet Marina, and take on a management contract for Aberystwyth Marina, all of which were previously under the management of The Marine & Property Group which fell into administration last year. 

Western Marinas is a new company set up by a new management team and their funders, Trevally Capital Ltd in conjunction with Harwood Private Capital and funding arranged by Trevally Capital Advisers Ltd.

The group will work to realise the potential of Cardiff, Aberystwyth and Watchet marinas, as well as Cardiff Marine Village and the associated Dredging Division.

A WBD team led by partner Will Fraser from WBD's finance and investment team advised on the deal, with significant support from partners Charlie Reid, Amy Gallimore, Andy Stirk, and Carl Powlson from the firm's banking, restructuring, and corporate teams.

In addition, managing associate David Ridley, associates Jake Unsworth and Holly Ransley, and solicitors Omar Sammakia and Bede Finnigan provided corporate, finance and restructuring support on the transaction, while managing associate Heidi Allen and members of the firm's property team provided due diligence on the marinas involved in the deal.

Partners Ronan Lowney and managing associate Chris Bowen also provided additional support on tax and commercial elements respectively.

Will Fraser said: 

"It is fantastic to have been able to support Trevally and their partners again on another transaction, especially given this deal's importance in helping shore up the long-term sustainability of a number of marinas in Wales and England.

This was a deal which required significant expertise across a wide range of practice areas as well as a strong consideration of the current market and conditions the business faced, and we are thrilled to have been able to provide assistance on this and help them turn around the organisation with a view to develop it further."

The board of Trevally said: 

"Western Marinas has a clear mission to put these marinas back to where they belong as some of the leading facilities in Wales and the South West, and we would like to thank the WBD team for their relentless effort, brilliant counsel and superb teamwork to help get this investment finalised and over the line, especially given the wide-reaching nature of the deal."