Merger adds muscle for Mustang Marine

Mustang Marine, a family run business based at Pembroke Dock in the Welsh port, has been operating since 1984 and has an impressive global sales record. Milford Haven Ship Repairers services the requirements of the port, one of the largest in northern Europe.

The deal involves the substantial investment of new capital to finance growth plans of the enlarged business, with the specific objectives of shortening newbuild delivery times and providing the latest in fabrication facilities at Pembroke Dock.

Speaking of the merger, chief executive of Milford Haven Port, Alec Don said it was their firm belief that marine engineering was an area with significant potential for growth in Pembrokeshire.

“The presence of the energy industry here has created a substantial skills base and our confident expectation is that since the two businesses naturally complement each other, together they will create around 30 new job opportunities over time within the county.”

Kevin Lewis, one of the founders and the managing director of Mustang Marine added, “This is an exciting next step in the future of the company and the Milford Haven Waterway. Last year we announced the expansion of our current site, enabling us to seek new opportunities within the renewables market whilst not disrupting our core business. This merger with MHSR and the investment from Milford Haven Port Authority will enable us to look forward to the development of the repair side of the business and the provision of these services to the renewables industry, as well as the enhancement to our new construction work.”

Together with significant new investment by MHPA to facilitate planned growth over the next three years, the enlarged business will be 50% owned by MHPA the Port and 50% by Mustang’s existing management. It will trade under the name Mustang Marine and will continue to operate across the two existing sites at Pembroke Port and Milford Docks under extended lease agreements.