Setting Sail: Finance for Multifaceted Marine Business

The Marine Group, a fully owned subsidiary of COS Investments Sàrl, is a multifaceted marine business spanning marina equity investments, harbour management, dredging, consulting, acquisitions, waterside properties and a host of other services. After a period of difficulty resulting from the pandemic and the demise of banking partners, the company was able to restructure and get back on track, but they required different levels of funding to have the right working capital to roll out effectively.

Seed Capital Loans

In the initial instance, having been introduced by Halo Corporate Finance, Rivers arranged seed capital which enabled them to complete the restructuring process as well as access larger funding opportunities and investment.

Working Capital Loans

Once the seed capital was repaid, the company came to Rivers for the next stage of their development, seeking working capital for their marine services arm at Cardiff Marine Village. By delivering the business loan, they have been able to hit the ground running, recruiting staff and covering initial operating costs.

Asset Finance

Once the marine services aspect of the business began to make progress, Rivers was also able to support the team with a third round of funding, this time through asset finance. In partnership with another specialist lender, we worked together to arrange funds for the acquisition of new dredging equipment, enabling this element of the business to get underway.

Director of The Marine Group, Chris Odling-Smee, said: "The Marine Group is a complex business, and Rivers was willing to take the time to understand how it worked and what we were looking for. We needed to work with people who were sophisticated in their understanding, and they delivered that. I think it's also important to note that behind the business transactions there's a human reality - families who depend on the jobs, and communities seeking business growth. Most lenders want two years of trading accounts and as a restart we couldn't provide that. Of course we have provided security for the finance, but they have really learned about what we're doing and as a result given us the ability to recruit and grow again."