After more than six months of negotiations, the Isles of Scilly Steamship Group has announced the successful completion of the sale of Penzance Dry Dock (2009) Limited.
Under the new ownership of Penzance-based engineering business Linked Solutions SW Limited, it will business as usual at the dry dock as all current employees will remain employed.
Linked Solutions has also pledged to maintain the dry docking facility for leisure and commercial vessels.
The dry dock, which is fully equipped for marine engineering and maintenance activities, has been leased and operated by Isles of Scilly Steamship Group since 2009. But in January this year, the group announced its intention to concentrate on its core transport business and confirmed they would not renew the lease on Penzance Dry Dock.
Linked Solutions SW Ltd, which provides marine engineering, design and fabrications as well as project management and consultancy services has purchased the entire shareholding of the operating company. The Steamship Group is providing financial support to enable the sale to proceed.
Stuart Reid, chief executive of the Isles of Scilly Steamship Group, said: “We are pleased the dry dock operation will be continued under new ownership. The Isles of Scilly Steamship Group is committed to focusing on our core operation of transporting passengers and freight by sea and air.”