Two complementary British marine firms targeting superyacht customers are now under the same ownership. Pendennis Shipyard’s parent company, Pendennis Group, has taken majority ownership of Cockwells, the custom tender builder in its same home region of Falmouth, England.
Cockwells got its start 28 years ago, thanks to founder Dave Cockwell. Back then, the company rented space in a local shipyard in Bristol, England. Today, it has three sites in Cornwall and counts upwards of 140 employees. Dave Cockwell remains involved, too, as the sales and technical director. From the start, the company has custom-designed and custom-made tenders of a variety of styles and sizes for global customers. Recently, for instance, the owner of the 367-foot (112-meter) Renaissance, the largest yacht built in Spain, took delivery of four of tenders. Additionally, a Cockwells catamaran limo tender serves the 525-foot (160-meter) Blue, a Lürssen from 2022 (below).
Although its tenders are what megayacht customers know best, Cockwells also offers semi-production motorboats like the Duchy and Hardy series, both growing in popularity. This is one of the reasons why Dean Short, Cockwells’ managing director, says the team has been seeking support. So, too, have more customers been requesting more—and larger—tenders. Pendennis being local plus focused on superyachts makes it “perfectly placed,” he says, “to move the business to the next phase in its business plan.” Additionally, both Cockwells and Pendennis prioritize apprenticeship programs.
The two companies are already familiar with one another. Several Pendennis clients have taken delivery of Cockwells tenders, in fact. They include owners of yachts built at Pendennis and ones refitted there. A good example of the latter is the classic yacht Marala (below), which wrapped up a restoration two years ago.
“Cockwells shares many of the values that are integral to the Pendennis Group and serves many of the same customers and contacts,” notes Toby Allies, Pendennis Group’s managing director. The acquisition will broaden what Pendennis can offer to those customers, he adds.
Cockwells’ management team is remaining in place, and the shipyard will continue operating independently.
The acquisition brings yet another boating brand into the Pendennis Group fold. The Pendennis Group consists specifically of Pendennis Shipyard, its refit yard Pendennis Vilanova (near Barcelona), and interiors manufacturer Norfolk Interiors.
Cockwells cockwells.co.uk
Pendennis pendennis.com
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