On January 27, Navantia UK announced the completion of its acquisition of Harland & Wolff’s facilities in Belfast, Appledore, Methil and Arnish, protecting more than 1,000 jobs across the four sites and strengthening Britain’s defence, maritime and clean energy industrial capabilities.
Under Navantia UK’s management, all four facilities will benefit from extensive expertise in shipbuilding, fabrication and complex programme management, supporting both a highly skilled workforce and robust supply chain.
The transaction ensures the continuation of the Fleet Solid Support (FSS) programme, comprising three ships for the Royal Fleet Auxiliary to support the UK Carrier Strike Group. These vessels will be built at the Belfast and Appledore facilities alongside Navantia’s facilities in Spain. Navantia UK plans significant development of the yards for the defence, maritime and green energy sectors.
Navantia UK is currently leading the UK Fleet Solid Ship (FSS) program to build three supply ships for the Royal Navy Auxiliary Fleet. The project is being carried out at Harland & Wolff’s Belfast and Appledore shipyards, as well as Navantia’s Puerto Real shipyard in Spain.Navantia UK emphasizes that integrating Harland & Wolff’s facilities will help to ensure that the FSS program will be delivered on time.
Navantia is part of Spain’s National Industrial Participation Company (SEPI) and has expertise in shipbuilding and project management. The company also operates in the renewable energy sector, including offshore wind and green hydrogen, through its Navantia Seanergies brand.Navantia UK sees the acquisition as a step towards strengthening its presence in the UK.
With a history of over 150 years, Harland & Wolff is one of the oldest shipyards in the shipbuilding industry and is best known for building the Titanic. Harland & Wolff listed on AIM, due to escalating debt, and failed to get the British government export credit agency (UK Export Finance, UKEF) 200 million pounds of loan support, the shipyard in September re-entered into receivership for the second time in four years.
Ricardo Domínguez, Chairman of Navantia, said: “The completion of this acquisition marks a significant milestone for Navantia UK and demonstrates our long-term commitment to UK industry. By combining Harland & Wolff’s proud heritage and facilities with Navantia’s global expertise in defence, maritime and renewable energy, we are creating an exceptional platform for growth.”
The transaction has received all necessary regulatory approvals. All current employees have transferred to Navantia UK with their existing terms and conditions preserved.
The transaction was supported by independent advisers Alantra, Clifford Chance, TLT and KPMG among others, who assisted Navantia with commercial negotiations and documentation.