Barings Supports LDC Backed Aquavista on Its Acquisition of Castle Marinas
Dec 08, 2021
Barings, one of the world’s leading investment managers, is delighted to announce it has provided financing to support Aquavista, the premier operator of inland marinas in the UK, on its acquisition of Castle Marinas (“Castle”). Aquavista is backed by LDC, one of the UK’s leading middle market private equity investors. Financial terms were not disclosed.
Matt Carty, Director in Barings’ Global Private Finance Group, said:
“We are delighted to support the bolstering of Aquavista’s position as the premier inland marina operator in the UK with its acquisition of Castle, and look forward to working with the group as it continues to reinforce its leading market position. We focus on investing in the highest quality businesses, which Aquavista certainly represents with its high levels of recurring revenues from contractual mooring fees, and are also pleased to further strengthen our relationship with a top-tier financial sponsor like LDC.”
David Bains, Investment Director at LDC, said:
“Aquavista is one of the most respected operators in its sector thanks to its customer-focus. We are enjoying working alongside Steve and his team to grow the business by investing in its estate, and this acquisition represents a significant milestone in establishing the firm as the market leader.”
Aquavista is the UK’s premier operator of inland marinas. With its acquisition of Castle, the combined group will operate 29 marinas with over five thousand residential and leisure mooring berths.
Barings is a $387+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment. Learn more at www.barings.com.
*Assets under management as of September 30, 2021
As the private equity arm of Lloyds Banking Group, LDC invests in a diverse range of mid-market businesses across every region and sector of the UK economy. Since 1981, LDC has supported over 650 management teams and invested more than £5.5bn in mid-sized businesses.
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