British middle market equity investor RJD Partners has backed a management buyout (MBO) of ship repair company Burgess Marine Ltd (BML) in an £11 million deal.

The money will be used both to fund the immediate MBO and provide capital for future growth within the UK. Dover-based BML was run by David Warren until his retirement in 2008. His son Nicholas took over the reins and is still in charge to this day.

The company provides ship maintenance, repair, new-build construction and refit services for clients including Rolls Royce and BAE Systems.

It currently employs 130 people and has enjoyed a period of growth since 2013 – acquiring fellow marine engineering businesses Meercat Workboats and Testbank Ship Repair. Subsequently the company’s turnover doubled in 2014 – reaching £25 million.

BML MD Nicholas Warren highlighted his company’s reputation for innovation, quality and “foundation of strong customer relationships”.

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“We will build on this over the coming years as the company grows to become the leading independent operator in the UK marine services sector,” he said. “We are very pleased to be in partnership with RJD and look forward to working closely with their team in continuing the success of Burgess.”

He continued: “Our advisers, Kreston Reeves and Brachers, did a fantastic job of pulling together to meet an ambitious timetable and I can’t thank them enough.”

RJD partner Alex Hay added he is hoping to help to “develop Burgess into the national leader in its field”.

“RJD has a successful track record of being the first institutional investor within family businesses and we look forward to leveraging our experience in this area to support the company’s exciting growth prospects,” he said.