Ship repair business bought out

A ship repair and marine services company has been bought by a Welsh firm for an undisclosed sum.

The Bailey Group, based in Cardiff, has taken control of the A&P Group, which employs 600 staff at four sites.

They include: Hebburn on Tyneside, Middlesbrough in Teesside, Chatham in Kent and Falmouth in Cornwall.

Property developer and entrepreneur Paul Bailey, had taken a 50% stake in the group in September 2006. He has now purchased the remaining 50%.

'Management control'

The deal was concluded at the end of last week after six weeks of detailed negotiation, the group said.

The former managing director of the Tyneside operation, David Skentelbery, has been appointed group managing director and a new finance director, Ian Carey, joins from the construction industry.

Peter Child continues as managing director of the Falmouth yard.

Mr Bailey said the new structure would further strengthen the group, which had returned good profits over the past three years, with new investment and dynamic management.

"Now that we have secured clear management control we can set about developing the future of a very successful company."

A&P was founded in 1971 and has become a major force in ship repair, conversion and marine services.

Its clients come from more than 70 countries and include government departments and commercial shipping lines.

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