Latest news with #TerraFirma
Yahoo
18-07-2025
- Business
- Yahoo
Private equity baron Hands eyes voyage with Boatfolk marinas
The private equity firm founded by Guy Hands is plotting a takeover of Boatfolk, one of the UK's biggest independent marina owners. Sky News has learnt that Terra Firma Capital Partners, the buyout shop now run by Mr Hands' son, Richard, is among the remaining suitors for Boatfolk, which has been exploring a sale for several months. The elder Mr Hands retired from his full-time roles at Terra Firma two years ago, having built it over several decades into one of Britain's most prominent private equity groups. Money latest: Among its investments - some of which turned out to be financially and reputationally notorious - were the music company EMI, the care homes operator Four Seasons Health Care and Annington Homes, the former owner of thousands of Ministry of Defence homes. More recently, it has focused on managing Mr Hands' family's money, although it does still have some external investors. Its interest in Boatfolk is unsurprising, given the company's underlying property portfolio. Owned by Mansford, a prolific investor in real estate assets, Boatfolk owns marinas at East Cowes on the Isle of Wight, Weymouth in Dorset and Royal Quays in North Shields. Its portfolio comprises 11 sites in total. The identities of other bidders for Boatfolk was unclear on Friday, although industry sources speculated that Crestline, an investment firm, could be among them. The Boatfolk auction is being handled by CBRE, the property agent. A spokesman for Terra Firma declined to comment.
Sky News
18-07-2025
- Business
- Sky News
Private equity baron Hands eyes voyage with Boatfolk marinas
The private equity firm founded by Guy Hands is plotting a takeover of Boatfolk, one of the UK's biggest independent marina owners. Sky News has learnt that Terra Firma Capital Partners, the buyout shop now run by Mr Hands' son, Richard, is among the remaining suitors for Boatfolk, which has been exploring a sale for several months. The elder Mr Hands retired from his full-time roles at Terra Firma two years ago, having built it over several decades into one of Britain's most prominent private equity groups. Among its investments - some of which turned out to be financially and reputationally notorious - were the music company EMI, the care homes operator Four Seasons Health Care and Annington Homes, the former owner of thousands of Ministry of Defence homes. More recently, it has focused on managing Mr Hands' family's money, although it does still have some external investors. Its interest in Boatfolk is unsurprising, given the company's underlying property portfolio. Owned by Mansford, a prolific investor in real estate assets, Boatfolk owns marinas at East Cowes on the Isle of Wight, Weymouth in Dorset and Royal Quays in North Shields. Its portfolio comprises 11 sites in total. The identities of other bidders for Boatfolk was unclear on Friday, although industry sources speculated that Crestline, an investment firm, could be among them. The Boatfolk auction is being handled by CBRE, the property agent.
Yahoo
19-05-2025
- General
- Yahoo
Investigation work set to begin on Gorey Pier
"Intrusive" investigation work is set to get under way at a listed pier after cracks were discovered. Ports of Jersey said work would begin at Gorey Pier, St Martin, on Tuesday 27 May, subject to planning permission being granted by the Government of Jersey. A report showed parts of the historic pier were cracked due to a combination of age and the effects of Storm Ciarán in November 2023, with specialist company Terra Firma set to be on site for between four and six weeks. "Every effort will be made to minimise disruption and complete the work before the peak summer season," a Ports of Jersey spokesperson said. "These investigations are essential to gather detailed information on the condition of the pier, which will inform the best method for its stabilisation." A series of trial pits and boreholes would be opened on the pier arm, pier head and the base of the wall on the harbour side but no work would be undertaken along the bulwarks where the restaurants and residences were located, they said. Following this work, planned repairs include replacing the concrete landing deck, reinforcing the western wall, repairing a stress crack in the pier road and demolishing the terminal building. The initial investigations work has been timed to coincide with the upcoming spring tides, when low tide will go down to 1.35m (4.4ft). "The challenges of working in a tidal zone mean we are scheduling the digs at low tide to reduce the risk of sea water filling the holes through the pier," the spokesperson said. They said as the tide comes in, water might need to be pumped out through a filter basket into the harbour. The work is due to involve intermittent access restrictions for vehicles, parking bays and the public. More news stories for Jersey Listen to the latest news for Jersey Follow BBC Jersey on X and Facebook. Send your story ideas to Permission sought for 'intrusive' work on pier
BBC News
19-05-2025
- General
- BBC News
Investigation work set to begin on Jersey's Gorey Pier
"Intrusive" investigation work is set to get under way at a listed pier after cracks were of Jersey said work would begin at Gorey Pier, St Martin, on Tuesday 27 May, subject to planning permission being granted by the Government of Jersey.A report showed parts of the historic pier were cracked due to a combination of age and the effects of Storm Ciarán in November 2023, with specialist company Terra Firma set to be on site for between four and six weeks."Every effort will be made to minimise disruption and complete the work before the peak summer season," a Ports of Jersey spokesperson said. "These investigations are essential to gather detailed information on the condition of the pier, which will inform the best method for its stabilisation."A series of trial pits and boreholes would be opened on the pier arm, pier head and the base of the wall on the harbour side but no work would be undertaken along the bulwarks where the restaurants and residences were located, they this work, planned repairs include replacing the concrete landing deck, reinforcing the western wall, repairing a stress crack in the pier road and demolishing the terminal initial investigations work has been timed to coincide with the upcoming spring tides, when low tide will go down to 1.35m (4.4ft)."The challenges of working in a tidal zone mean we are scheduling the digs at low tide to reduce the risk of sea water filling the holes through the pier," the spokesperson said. They said as the tide comes in, water might need to be pumped out through a filter basket into the work is due to involve intermittent access restrictions for vehicles, parking bays and the public.
Yahoo
29-04-2025
- Business
- Yahoo
Financier Hands checks into holiday parks operator Lovat
The investment firm founded by financier Guy Hands has struck a deal to buy a portfolio of British holiday parks. Sky News has learnt that Terra Firma, which Mr Hands ran for decades, is buying Lovat Parks, a privately owned leisure group, in partnership with Angelo Gordon, a specialist backer of real estate assets. Lovat Parks operates premium holiday homes and luxury lodges at nine sites across the UK, including locations in Cornwall, Norfolk and the New Forest. Money latest: Raoul Fraser, the company's founder, will continue to run the business. The deal is one of Terra Firma's first acquisitions since it announced in 2023 that Mr Hands would step back from day-to-day involvement with the firm. He set up Terra Firma in 2002, and through it acquired companies including the record label EMI and the care homes operator Four Seasons Health Care. Last December, it struck a near-£6bn deal to sell 36,000 military homes to the UK's Ministry of Defence, bringing an end to a long-running battle between Mr Hands' firm and the government. The price it and Angelo Gordon were paying for Lovat Parks was unclear on Tuesday. Read more from Sky News:Food inflation highest for more than a year - more to come, industry warnsMandate solar panels on all new homes to cut bills, councils argue In a statement issued following an enquiry from Sky News, Terra Firma managing director Richard Hands - the son of Guy - said: "Lovat Parks operates some of the highest quality holiday parks in attractive destinations around the UK, in a sector that has proven resilient and durable. "Through our partnership with TPG Angelo Gordon, we are excited to bring our operational and strategic expertise in multi-site asset-backed businesses to deliver on the company's ambitious growth plans."
