Guernsey civil engineering contractor, Geomarine Guernsey, has completed its management buy-out.
The existing executive team of Geomarine in Guernsey: Tom Whitmore, Managing Director, Gary Stevenson, Operations Director and Matt Brooks, Commercial Director, have purchased a majority stake in the company.
Succession planning and negotiations on the management buy-out (MBO) have been ongoing since early 2022 and were completed in November.
Commenting on the MBO, Managing Director of Geomarine in Guernsey, Tom Whitmore, said: “Gary, Matt and I are grateful for the opportunity to invest in the future of a company that gives us an immense sense of pride. Feedback from clients and our staff has been universally positive and we thank them wholeheartedly for making Geomarine what it is today.
“The management buyout is the next phase in the evolution of Geomarine. Our services and team remain the same, we are committed to providing continuity for our clients and we look forward to delivering high quality and varied civil engineering projects across the Bailiwick for many years to come.”
Like Geomarine in Guernsey, Geomarine in Jersey is now an independent company. The two companies remain fully committed to a collaborative approach to pan-island clients.
Pictured: Left to right – Operations Director, Gary Stevenson; Managing Director, Tom Whitmore; Commercial Director, Matt Brooks.
