City’s Oldest Ship Brokers Acquired

10th March 2007

Liverpool’s oldest ship brokers, SC Chambers & Co Ltd has been acquired by Sanderson Maritime Ltd with backing from Merseyside Special Investment Fund, Lloyds TSB and the company’s own investment.

SC Chambers & Co ltd was established in 1887 and has specialised in the sale, purchase and valuations of ships (including bulk carrier and general cargo vessels, small and medium sized tankers as well as specialist tonnage vessels) for the last 50 years.

The Sanderson Marine Group operates globally from the Port of Liverpool Building. The company was set up in 2003 and specialises in a range of maritime services including floating accommodation – used for example to accommodate personnel where the locality might lack the necessary infrastructure- and international barge transportation.

Managing Director Julian Sanderson said: “SC Chambers has an international reputation and a long tradition of trading in Liverpool. The funding from MSIF and Lloyds TSB allowed us to fund the acquisition which enhances our commercial broking and consultancy activities and means we can invest further in the company’s future growth. We are now actively looking to acquire other complimentary marine businesses throughout the UK to strengthen our offering further.”

Alan Birkett, Investment Manager of MSIF said: “We were pleased to support Sanderson Maritime in their bid to ensure that one of our city’s most historic shipping businesses remains on Merseyside. Sanderson Maritime is run by a strong management team and we expect the company to contribute a great deal to the region.”

It is expected that the acquisition will lead to the creation of around 12 new jobs in the medium term.

Sanderson Maritime’s turnover is expected to reach several million over the next three years

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Langtons Corporate Finance and Mace & Jones Solicitors advised the management team on the transaction.

SC Chambers will continue to trade under the same name.

For further information contact Angela White at Merseyside Special Investment Fund on 0151 236 4040 or Angela.White@msif.co.uk

Ends

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Pic shows L to R Alan Birkett (MSIF), Julian Sanderson (Sanderson Marine Group) and Arthur Westhead (Lloyds TSB).

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