Cammell Laird Shiprepairers & Shipbuilders Limited is joining forces with another shipyard owner A&P Group Limited to create a maritime powerhouse with a combined turnover of £188m.
With its shipyard based in Birkenhead, Cammell Laird’s most recent financial results showed annual revenues of £94m. A&P operates two shipyards in the North East of England and one in Falmouth in the South West. Its current turnover is also £94m.
Now both businesses will come under the umbrella of a new entity, APCL Group. The group will also include project management specialist A&P Australia and UK based Neway Industrial Services.
Cammell Laird and A&P already have a close working relationship and David Mc Ginley is chief executive of both companies. He will be CEO of the new entity.
This deal will not see a change of ownership of either business which will retain their individual identities. The ultimate parent company of Cammell Laird is Isle of Man-based Tokenhouse which is the parent company of ports and property giant The Peel Group.
This latest move means APCL will “stand before the market” as a much larger company. It will develop an “all of one” company approach to certain major contracts and will further the group’s ambition of becoming a tier one contractor.