Idwal Marine

Our Corporate Finance team successfully advised Idwal Marine on its investment from LDC.

Based in Cardiff, Idwal provides vessel condition and integrity inspection services, fleet monitoring and data services for customers across the marine industry. Its services are used by ship owners, brokers, ship operators, flag states, investors and other financial stakeholders when evaluating investments or divestments in marine assets and when assessing the condition of vessels and fleets. The business was formerly a division of Graig Shipping PLC.

The business, a certified carbon neutral organisation, was the first in the industry to include both decarbonisation metrics and crew welfare and working condition data in their reports. It is also focused on the provision of advanced ESG reporting to ensure that its customers are meeting increasingly stringent sector wide environmental reporting requirements.

Our Corporate Finance team led by Director Tom Coombes guided the Idwal management team throughout the sale process providing guidance, input and support on the negotiation and tactics of the discussions with the private equity interested parties regarding management terms.

Tom Coombes, FRP Corporate Finance Director said: “The Idwal team have developed a true market leading offering from their base in Cardiff and they should be truly proud of what they have achieved to date. The transaction is a landmark deal for Wales with the team finding an ideal partner in LDC. The team is absolutely thrilled to have advised Nick, Dai, George on how to navigate and structure this private equity transaction.”

Nick Owens, CEO of Idwal, said: “We cannot speak highly enough of the professionalism, knowledge and support offered by the Cardiff team. The advice, patience and counsel throughout this important milestone for the Idwal management team, has been invaluable.”

Legal advice to the management team was advised by Tom Kelleher, Gareth Williams-Davies and Cath Golledge of Capital Law and transaction tax advice was provided by Ses Memhi and Adam Keates of Claritas Tax.