Kreston Reeves advises Falkland Islands-based Fortuna on its acquisition of Holyhead Towing Company Ltd 

Kreston Reeves has advised Fortuna Ltd on its acquisition of Holyhead Towing Company Ltd.

Fortuna Ltd, based in Stanley, is the leading company in the fishing industry in the Falkland Islands with a strong international reputation for wild-caught and sustainably fished seafood.

Holyhead Towing, based on the Isle of Anglesey in North Wales and with strong and historic connections to the Falkland Islands, operates a fleet of 15 modern and versatile vessels used to support energy, marine civil engineering, dredging and renewable energy projects in the Arabian Gulf, Africa, Indian Ocean and throughout Europe.

The Kreston Reeves team was led by Corporate Finance Director Craig Dallender, supported by Partner Tom Wacher, Corporate Tax Senior Manager Mohammed Mujtaba, Corporate Finance Manager Sakshi Gupta, Corporate Finance Assistant Manager Mark Cheung, Private Client Tax Partner Tom Boniface, Corporate Tax Assistant Manager Jieun Shin and VAT Semi Senior Tanraj Bansal.

Overseas tax support was provided by Kreston ITH and Breaking the Mould Accounting Limited. Legal advice was provided by Pinsent Masons.

Craig said: “We are delighted to have assisted the team at Fortuna with this important transaction. The complexities of the deal required input from a range of the experts across the services we offer here at Kreston Reeves; a clear demonstration of our ability to help clients to achieve the best possible outcomes.”

James Wallace, Managing Director, Fortuna Ltd, said: “This is a significant acquisition for Fortuna which builds on our strengths as a company, helps further diversify our business and provides exciting capabilities and opportunities for the Falklands in the future. Holyhead Towing is a strong company that we know well, with a clear plan for growth. We are very excited to be involved in the future of the Company, and I am delighted to welcome them into the Fortuna Group.

“I’d also like to take this opportunity to thank the teams at Pinsent Masons and Kreston Reeves for their invaluable assistance in progressing this acquisition”

James Burns, Managing Director, Holyhead Towing Company Ltd, said: “This is a great step forward for the company, allowing us to chart a course toward an impressive future. Over the coming years, we will focus on strategic investments in our fleet, driven by our commitment to safety, quality, and innovation, all grounded in our extensive experience and deep understanding of our customers’ needs. We extend our gratitude to the board of Fortuna, as well as the crews, management, and customers of HT, for their patience and support throughout this process.”