Yorkshire team advises Mainprize Offshore on partial sale and multi-million pound development investment
Under the terms of the deal, Alcuin has partnered with Scarborough-based Mainprize Offshore, to help expand its fleet. The current directors and founders of the business, Bob and Sharon Mainprize, will continue to operate and grow the business alongside Alcuin and the senior management team.
Mainprize Offshore has also re-financed its fleet with Siemens Financial Services.
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Hide AdThe shareholders of Mainprize Offshore were advised by a team from Andrew Jackson Solicitors LLP comprising Philip Ashworth, Matthew Smith and Nicole Waldron (corporate); Fiona Phillips (tax); Robert Hill (property); Dominic Ward and Rebecca Forder (shipping); and Nick Wilson (employment). Members of the Yorkshire-based corporate finance team from Azets were Stephen Garbett and Martin Miller (corporate finance), Steve Holmes (corporate tax), and Richard Whitelock (employment taxes).
Alcuin were advised by a team from Stephenson Harwood led by Sam Gray and Gerald Seeto.
Bob Mainprize, one of the selling shareholders, said: "We are very grateful to Philip, Stephen and their respective teams at Andrew Jackson and Azets for all the support and hard work they have put in over the last few months and years to facilitate this significant investment in the growth and development of our business."
Philip Ashworth, corporate partner at Andrew Jackson, said he was delighted to have assisted the shareholders of Mainprize Offshore, having supported the company through its rapid expansion over the past 10 years.
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Hide AdStephen Garbett, corporate finance partner at Azets, added: “It has been a pleasure to have negotiated and delivered the Mainprize investment opportunity. This transaction not only underscores its leading position in the crew transfer vessel (CTV) market within the burgeoning offshore renewables sector, but also recognises the family's considerable contributions to date.”
Nick Seaman, partner at Alcuin Capital, said: “Mainprize Offshore is a leader in the European CTV market and we are delighted to have partnered with Bob, Sharon and the wider team.
“The business enjoys strong relationships with several of the largest global wind farm developers and operators, and will play a key role in supporting the rollout of European offshore wind and the transition to net zero.”
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