Why it matters: The sale is designed to secure the long-term future of one of the UK's most extensive yacht refit facilities, with the formation of Morgans Group providing investment and stability as Fox's approaches its centenary with more than 1,500 repeat customers and a 50-strong workforce.
The details: Sir Richard Matthews, who has owned Fox's for more than 40 years, has sold the River Orwell marina and boatyard to Brightlingsea-based Morgan Marine, with both businesses forming the new Morgans Group. The combined operation brings together two non-competing marine businesses, with Fox's specialising in yacht refit and repair alongside its chandlery, while Morgan Marine provides boat sales, engineering and boatyard services.
Morgan Marine, an established marine leisure business, partners with brands including Jeanneau, Nimbus, Highfield, Yamaha, Honda, Suzuki and Mercury. The management of Fox's remains unchanged, with Will Taylor-Jones continuing as managing director and financial management overseen by Mark Underwood.
Ipswich law firm Ellisons advised Morgan Marine on the acquisition, with the transaction led by Petra Sharp and Susan Ryan, supported by Paul Forsyth, Adam Kanharn, Nathan Howe and Jonathan Insley.
The bigger picture: Established in 1927, Fox's operates from a 15-acre site on The Strand, near Wherstead Road, with extensive yacht refit and repair facilities. The boatyard is a key supplier to major British yacht builders, including Oyster Yachts, Spirit Yachts, Southampton Yacht Services and Hardy Motorboats, and regularly carries out repair work for major insurance companies.
Fox's provides 100 pontoon berths and storage for more than 200 vessels, with in-house teams of engineers, craftsmen, boat handlers, riggers, electricians and fabricators providing a complete refit and repair service. The business has built a loyal customer base over its 97-year history.
What they're saying: Sir Richard Matthews, who will remain involved as non-executive chairman, said: "As the owner of Fox's for over 40 years, I am delighted to pass the business to new, committed owners who have made such a success of their Morgan Marine business. The acquisition secures Fox's future as the premier yacht service yard on the East Coast and one of the finest facilities of its kind in the UK."
Oli Miller, chief operating officer of Morgans Group, said: "We're incredibly proud to welcome Fox's into the Morgan Marine group. With its outstanding reputation, first-class facilities, and a loyal, highly skilled team, Fox's is a natural fit for us."
Graham Miller, managing director of Morgan Marine Holdings, said: "This acquisition was an important step in bringing two well-established marine businesses together, and it required careful handling across a number of disciplines. Ellisons worked closely with us throughout, providing clear, commercially focused advice and a collaborative approach that helped keep the transaction on track."
Petra Sharp, partner in Ellisons' corporate and commercial team, said: "We were thrilled to work with Graham Miller and the Morgan Marine team on this exciting transaction. The acquisition of Fox's Holdings strengthens Morgan Marine's presence both locally and nationally and reflects the firm's continued growth strategy."
The bottom line: After more than 40 years under Sir Richard Matthews's ownership, Fox's Marina & Boatyard has been sold to a buyer the owners say will keep the business running ahead of its 2027 centenary.
