Marine and Towage Services Group Ltd

Marine and Towage Services Group Ltd is an independently owned company based in Brixham, Devon, established in the 1920s. The company provides a wide range of marine services from towage, salvage and civil engineering support to ships agency and pilotage and operates vessels in the UK as well as Europe and Worldwide. Murrell Associates were approached by Marine and Towage Services to assist them with significant refinancing of two of their vessels.

Joe Gorman, Finance & Operations Director  at Marine and Towage Services Group Ltd said “ We chose to work with Murrell Associates because we were looking for a company with experience of our sector and were also attracted by the fact that they have a more of a personal approach than some of the bigger firms around. They took time to understand our business needs to ensure that that the service they provided was tailored to us.
Henry Maples, Partner at Murrell Associates, worked with Marine and Towage Services on this case. Henry said “The work with Marine and Towage Services was reasonably complicated from a legal perspective, so the experience and specialist knowledge that we have as a firm ensured things went smoothly. We managed the repayment of existing debt on one vessel and changed the status of another vessel from charter to ownership. There were currency conversion issues to be considered, as well as the need to comply with the lender’s LTV covenants in the drawdown process.
Joe Gorman said “We have been extremely happy with our decision to instruct Murrell Associates. It has been great to work with Henry and I feel that he quickly understood our business and what we needed to achieve. He also took the time to explain things to us and was always easy to contact. I can’t recommend Murrell Associates highly enough.
Get in touch
If you work in the marine sector and your business needs some specialist legal advice, we would be delighted to help. You can contact Henry Maples either by email or you can call 01872 226990