Founders of Gateshead marine engineering firm Southbay sell to Orange UK Holdings after 25 years

Gordon and Gill Green, who founded Southbay Civil Engineering 25 years ago, have sold the Gateshead-based marine and heavy civil engineering specialist to Orange UK Holdings, owned by entrepreneur Simon Orange.

Founded in 2001, Southbay delivered more than £40m of turnover in its latest financial year, building quay walls, jetties, sea walls and flood defences at ports and marine facilities across the UK, and recently completing its first overseas project in the Falkland Islands.

The business will continue under its existing management team, led by managing director Paul Stephenson and operations director Antony Ballantyne. Gordon Green said the founders were confident the new owners understood what it takes to run the business and would keep the management style that had made it successful.

The shareholders were advised by RG Corporate Finance, with legal advice from Beyond Corporate and accounting support from Grosvenor Accountants. Orange UK Holdings was advised by Mills & Reeve, with Saffery carrying out financial due diligence.