Alicat in buoyant mood following funding boost

6th April 2012

Gardline Shipping Ltd, the global science and technology group with headquarters in Great Yarmouth, has secured a multimillion pound funding package from Clydesdale Bank for its specialist boat building subsidiary, Alicat Workboats Ltd.

The funding, provided by Clydesdale Bank’s Corporate and Structured Finance team, will be used to assist Alicat Workboats with the construction of new vessels to serve the offshore windfarm industry.

Alicat operates ships designed for the transportation of personnel and equipment used to construct and maintain the growing number of offshore wind farms in the UK.

The first Alicat boat was launched in July 2010, with a further eight vessels launched since then and four more currently under construction. The expanding fleet is experiencing strong demand from substantial growth in the number of offshore wind farms since the 2004 establishment of Scroby Sands, one of the first UK offshore sites to become operational, just off the Great Yarmouth coastline.

Nigel Darling, Director of both Gardline Shipping and Alicat workboats, said:

“We are delighted to be working with Clydesdale Bank on this project .The funding will allow us to expand the production to meet the ever-growing demand for our vessels, particularly as the Alicat workboat is fast becoming the vessel of choice for safe and effective crew transfer in the windfarm sector.”

Andrew Pike, Managing Partner at Clydesdale Bank’s Financial Solution Centre in Norwich said:

“Gardline Shipping is a global company and also one of the region’s most prominent businesses, and it is a privilege for Clydesdale Bank to be part of Gardline’s growth strategies. Alicat Workboats is an essential part of that growth and the entire group is well-positioned to take advantage of the strong demand within the offshore windfarm sector, providing a boost to the local economy and employment market.”