Private equity investor LDC is exiting its seven-year partnership with Aquavista Watersides & Marinas, the UK’s largest marina infrastructure provider, which is being acquired by Antin Infrastructure Partners.
Antin’s mid-market infrastructure fund Mid Cap Fund I, is investing an unspecified sum to buy Aquavista alongside the firm’s CEO, Steve de Polo, and other members of the management team.
Founded in 2003, Aquavista is a marina owner and operator with 32 inland and coastal marinas offering over 5,300 berths and marine services across the UK.
Simon Soder and Assia Belkahia, senior partner and partner, respectively, at Antin Infrastructure Partners, said: “Aquavista has all the characteristics we look for in our mid-cap strategy, notably high barriers to entry and strong resiliency, and benefits from supportive long-term tailwinds.
“The company has a clear and ambitious plan to scale up its already leading presence in an attractive market segment, and we look forward to working with Aquavista’s management and team to support the company’s continued growth in marina infrastructure.”
De Polo said: “LDC has been an invaluable partner and the scale we’ve achieved together has enabled us to significantly enhance our services putting us in an incredibly strong position for future growth. We are delighted to partner with Antin to build on the strong foundations developed with LDC’s support and accelerate our growth.
“We see many expansion opportunities ahead, and Antin is the right partner to help us consolidate our leadership and deliver our proposition of quality facilities and services to an ever-greater number of customers who share our vision of Freedom and Togetherness.”
David Bains, partner and head of the East Midlands and East of England at LDC, said: “Our seven-year partnership has established Aquavista as a market leader through organic and acquisitive growth, including the strategic acquisition of Castle Marinas, which we supported with significant follow-on funding.
“It has been a privilege to support this locally headquartered business to become a national success story, and we wish the very best to Steve and his team on the next stage of their journey.”
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