Infrastructure investor CVC DIF recently completed the acquisition of a major stake in the Cernaval ship repair yard located in the port of Algeciras, Spain. This move allows CVC DIF to have greater influence in one of the busiest maritime locations in Europe.
Transaction Details
The transaction includes the ship repair yard in Campamento at the port of Algeciras, which is strategically located at the Strait of Gibraltar. Financial details and the exact size of the stake purchased have not been publicly disclosed.
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Cernaval's History and Facilities
Cernaval was established over 30 years ago and specializes in the repair, maintenance, and conversion of commercial vessels. The company's facilities include a 400-meter dry dock, a 230-meter floating dock, repair areas, and workshops. Last year, the company worked on 68 vessels and employs about 275 people annually.
CVC DIF's Future Plans
CVC DIF intends to modernize the yard, expand its technical capabilities, and improve business and operational processes. There are also plans for digitalization and energy optimization initiatives.
Fernando Morris, partner at CVC DIF, stated: "We see significant potential for further business development through investment in the yard and its capabilities." Additionally, Mario Lopez, founder of Cernaval, will continue to work with the management team to assist in implementing new investment plans for the majority shareholders.
CVC DIF is headquartered in Amsterdam and manages approximately €25 billion in infrastructure assets across transportation, energy transmission, public services, and digital infrastructure sectors.
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