Drew Marine acquires Chemring Marine
Marine solutions services specialist Drew Marine has confirmed the completion of its acquisition of Chemring Marine.
Chemring Marine is a supplier of marine distress signals and has manufacturing sites in Bremerhaven, Germany and Pamplona, Spain. The business will continue to be headquartered in Hampshire, UK, and will also have offices in Melbourne, Australia.
Drew Marine’s intention to buy Chemring Marine was announced on 6 June, subject to obtaining regulatory approvals, and the £32m transaction was completed on 31 July.
Chemring Marine’s managing director Justine Heeley says, “Chemring Marine is a specialist in the manufacture and worldwide distribution of marine distress signals in the commercial and leisure market sectors. The acquisition by Drew Marine will help the business to focus on enhancing its support to its global maritime safety network and gives the company a ‘marine home’.
“Drew Marine is the global leading provider of technical solutions and services to the marine industry. The acquisition fits in perfectly with Drew Marine’s portfolio of products.”
With the sale complete, Chemring Marine will be renamed Drew Marine Signal and Safety. Its corporate headquarters will remain in Havant, Hampshire, UK, and all Chemring Marine staff at all sites will remain with the company.