PROPERTY group Peel and senior directors of Birkenhead shipyard Cammell Laird have taken over shipbuilder A&P Group.

The move sees Cammell Laird boss John Syvret become managing director of A&P Group’s new owners, Atlantic & Peninsula Marine Services.

The takeover will be savoured by Mr Syvret, whose Northwest Shiprepairers’ bid to buy Cammell Laird was beaten by A&P Group a decade ago.

The new owners see huge potential in expanding A&P Group into the offshore renewable and civil nuclear energy markets. Shipyards, with their huge erecting areas and heavy engineering facilities, lend themselves to this diversified use.

A&P Group gives its new owners a prime foothold for these energy opportunities on the south and east coasts.

Atlantic & Peninsula Marine Services is 50% owned by Peel Ports Holdings (No.2) (IOM), a new company set up for the purpose by Peel Group.

The other 50% is owned by a group of private investors, including existing investors and directors of Cammell Laird Shiprepairers and Shipbuilders.

A&P Group operates shipyards on the Rivers Fal, Tyne and Tees.

These primarily comprise A&P Falmouth, A&P Tyne, A&P Tees, Falmouth Docks and Engineering Co, and Marine Designs.