Private Equity News & Analysis

Bidders still circling around Cammell Laird

Now Eric Welsh, a former Managing Director of the shipyard, is considering mounting a new offer for the company that went into receivership last month.

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Eric Welsh may make a further attempt to buy Cammell Laird shipyard after the receivers, PwC, turned down his first offer.

Welsh, who was Managing Director of the yard until 1998, has the support of the unions who see him as someone who will run the yards as a going concern rather than, as one union spokesperson put it, “asset strip” the business.

However, there is still some competition for the yards as PwC has been in discussions with at least eight other parties including two private equity companies, Alchemy and Patron.