Cheshire narrowboat manufacturer undergoes six-figure buyout

Narrowboat manufacturer Braidbar Boats has undergone a management buyout.

The deal was backed with a six-figure funding package, provided by the Royal Bank of Scotland (RBS), that will also support the ongoing growth of the Cheshire-based business.

Braidbar Boats has been owned since 2007 by husband-and-wife team Peter and Susan Mason. The firm has been building narrowboats for over 30 years and is today based on the Macclesfield Canal near Poynton.

Last year, Peter and Susan brought boat designer James Attwood on board along with his partner, Donna, to help them manage the day-to-day running of the firm.

With the RBS funding, James acquired Susan’s stake in the company is now responsible for the overall operation of Braidbar Boats. Donna, meanwhile, has taken on the day-to-day running of the office.

The business is expecting to increase its annual production. At present, it can build up to seven boats per year.

Peter said: “I am very pleased that James has joined the business. He brings with him many years of expertise and new thinking to the design of our boats.”

Image clockwise L-R: Susan Mason, Peter Mason, James Attwood, David Wright, Stephen Lee, Donna Hitchen

Commenting on the deal, James said: “I am excited about the future for Braidbar Boats having had this opportunity, as we are building on an already well-established and well-respected boat building business.

“The wealth of knowledge and experience has become even stronger with this partnership, and this will take the company even further.”

A team from accountancy and advisory firm CLB Coopers, part of Baldwins Group, advised Peter and Susan on the transaction.

David Wright, director of banking and finance at CLB Coopers, commented: “I am delighted to have assisted the management team at Braidbar Boats in securing a well-structured and competitive funding package.”

The deal’s funding was arranged by RBS relationship director Stephen Lee, who said: “Braidbar Boats has established an excellent reputation for delivering innovative designs and this deal strengthens the management team who aim to drive forward the business even further.”