Former business managers of South Boats IOW have set up a new company called Diverse Marine and acquired of all the former company's assets.
The purchase includes plant, equipment and employees.
Diverse Marine, which is headed by Ben Colman and Matt Floyd, said it will continue to “offer commercial vessel repair and refit, supporting previous, existing and new clients with any requirements”.
The company will continue to be based at the Medina Yard at Cowes on the Isle of Wight in England, having secured a three-year lease.
Diverse Marine director Ben Colman said: “We are delighted to announce the completion of the purchase and formation of Diverse Marine – we are overwhelmed by the support from clients, suppliers and the wider marine industry as we take the company into the future.
“We have a strong vision for the future and have started to map how we may get there. The support and integration of our team as the company steps on this path is very important to us.”
Image: South Boats IOW