Superyacht management firm Dominion Marine has announced the completion of a full management buy-out from its previous owner.

Dominion Marine, based in Douglas with offices in Jersey and Malta, has been providing professional services to superyacht owners since 1984 and currently provides bespoke management solutions to more than 100 of the world’s superyachts employing more than 1,500 crew members worldwide.

The management buy-out was led by managing director Simon Roberts, who was joined by client relationship director Catherine Connolly; crew services director, Paul Fleming, and finance director Tim Cox.

Mr Roberts said: ‘We are thrilled to have completed this deal to usher in a new era for Dominion Marine and we look forward to taking our long operational history and success forward under a new leadership team, which includes Manx advocate Tess Bates who has recently joined in the position of non-executive director.

‘This strong, new board is diverse, dynamic and forward-thinking. Between us we have over 70 years of maritime experience which puts the business on a firm course to future and continued success.’

Mr Roberts joined Dominion Marine in 2010 as head of crew solutions and Ms Connolly has been with the business since 2000 joining first as a marine administrator and working her way up. Mr Cox and Mr Fleming, who both joined in 2017.

Mr Roberts said: ‘We have been able to make some strong appointments in each of our offices in the last six months as we have ambitious plans to diversify our services.

‘We regard this management buy out as a fantastic opportunity for the renewal of the business. We are excited for the future and our team of high calibre individuals will confidently and successfully take us forward.’