CVC DIF, the infrastructure division of investment fund CVC, has acquired a majority shareholding in Cernaval shipyard, located in the Port of the Bay of Algeciras (Cádiz), with the aim of launching an investment programme to modernise the shipyard, expand its capabilities, strengthen its commercial and operational processes, make progress in its digitalisation and implement energy efficiency measures.

Cernaval shipyard provides repair, maintenance and conversion services for commercial vessels at the port of Algeciras, one of the world’s busiest maritime hubs, through which more than 120,000 vessels pass each year. The company boasts a long-term port concession and specialist facilities that have attracted CVC DIF investment to expand its capabilities and drive operational improvements.

Complex repairs to large vessels
Cernaval’s facilities include a 400-metre dry dock, a 230-metre floating dock, quays and workshops where it carries out both routine maintenance and complex repairs on large vessels. Founded more than thirty years ago, the company serves shipowners and maritime operators who demand high levels of technical capability, safety and responsiveness.

With a workforce of around 275 people, Cernaval carried out work on 68 vessels last year. As this new chapter begins, CVC DIF will work with the existing management team to develop the business further, focusing on modernising the shipyard, expanding its capabilities and strengthening its commercial and operational processes.

The new majority shareholder also aims to drive further digitalisation and implement energy efficiency measures. The investment project’s ultimate aim is to strengthen Cernaval’s position in the Western Mediterranean.

Investment in the shipyard and its capabilities
CVC DIF partner Fernando Moreno believes that Cernaval is “well positioned in a strategically important port, with specialist facilities and an experienced team. We see considerable scope to further develop the business through investment in the shipyard and its capabilities.”

Cernaval’s founder, Mario López, explains how the company has been built “thanks to the hard work of its team, the trust of shipowners and a very close relationship with the Port of the Bay of Algeciras and this region”, adding: “The partnership with CVC DIF marks the start of a new chapter in which we can continue to improve our facilities, our processes and our customer service, while preserving the identity and expertise that have guided us from the outset.”

^{Photo: CVC}