Peel Group and Cammell Laird's boss buy A&P Group

Mar 2 2011 by Peter Elson, Liverpool Echo

A CONSORTIUM of Merseyside businessmen has bought a top UK shipbuilding company.

Peel Group with senior directors and investors of Cammell Laird, including chief executive John Syvret, have jointly acquired A&P Group.

The company operates shipyards in Falmouth, Tyneside and Teesside.

Peel Group, which is a major shareholder in Cammell Laird and Mr Syvret are keen to diversify the work at the Birkenhead shipyard.

They plan to go into new markets for offshore renewable energy such as wind farms and civil nuclear energy in the Irish Sea area.

The purchase of A&G Group, for an undisclosed sum, also gives their first prime locations in these new energy markets on the south and east coast.

In spite of the recession there are lucrative private and Government contracts for renewable energy.

Shipyards with their huge erecting areas, heavy engineering facilities and sea access are ideal for this new use.

The move sees Mr Syvret become managing director of A&P Group’s new owners, Atlantic & Peninsula Marine Services.

Mr Syvret will remain as Cammell Laird CEO.

The takeover will be savoured by him as his Northwest Shiprepairers’ initial bid to buy Cammell Laird was beaten by A&P Group a decade ago.

Atlantic & Peninsula Marine Services is 50% owned by Peel Ports Holdings (No.2) (IOM), a new company set up for the purpose by Peel Group.