Three marine construction and infrastructure companies have been acquired by a single private equity firm in London for an undisclosed sum.
TMS Limited, Hesselberg-Hydro, and Marine Plant Hire UK, have been bought by Sullivan Street Partners and integrated under the Ancora Group.
TMS and Hesselberg-Hydro specialise in marine infrastructure services, while Marine Plant Hire supports marine construction activities.
Private equity firm Sullivan Street said it intends to expand the services of all three companies across the UK, which will include repairs, construction and redevelopment across waterways and tidal environments.
Founded in 2010, Sullivan Street is a London-headquartered buyout firm that focuses on complex situations in the lower mid-market.
Operating throughout the UK and Europe, TMS has more than 30 years of expertise as a marine contractor within the civil engineering sector.
Hesselberg-Hydro’s services encompass feasibility studies, inspections as well as design, installation, and maintenance of various waterways and tidal environments.
Marine Plant Hire is a newly rebranded division of Teignmouth Maritime Services, with more than 30 years of maritime industry expertise.
“These are brilliant businesses, with a high-calibre workforce, motivated to solve problems and make good the challenges our coastline and inland waterways are facing,” said Richard Sanders, founder and MD at Sullivan Street.
“We’re excited to be working closely with founders Peter Stenner, Roger Smith and the senior executives to develop a robust national marine infrastructure group, supported by a skilled team of marine engineers.”
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