SBP Accountants & Business Advisers (SBP), a leading North East accountancy firm with offices across Aberdeen, Peterhead, Fraserburgh and Banff, has successfully delivered a seven figure funding package from the Royal Bank of Scotland for long standing client David Patience, owner of CLS Marine Ltd, enabling the purchase of a new trawler vessel and powering the business into its next phase of growth.
The acquisition of the Cordelia K, recently renamed Sirius PD 70, previously operated by respected local fisherman George Jack, marks a significant milestone for David and his family. More than the purchase of a vessel, it represents a strategic shift that gives David full control of operations, greater earning potential and a secure platform to involve the next generation in the industry.
The project began when David approached SBP with a clear ambition to take ownership of the Cordelia K and operate independently. SBP’s expert team played a central role, working closely with him to craft a robust business case supported by detailed financial forecasting, operational income projections and a long-term, sustainable plan for growth. SBP’s specialist understanding of the marine and fishing sector proved key in shaping a compelling proposal.
Working in partnership with The Royal Bank of Scotland, SBP structured a bespoke seven figure funding solution aligned to CLS Marine Ltd’s cash flow and future plans, ensuring the business could move forward with confidence.
Former owner George Jack added, “I have known David since 2009 and we have worked closely together for years. Our long standing partnership made supporting him in taking full ownership an easy decision. I wish David and Liam every success in this next chapter.”
Jamie Smith, SBP, commented, “This is not just about buying a boat, it is about building a legacy. Securing seven figure funding for CLS Marine Ltd reflects the strength of David’s vision and the power of well-structured financial planning. We are incredibly proud to have helped turn this ambition into reality.”
Gary Summers, Relationship Director Commercial Mid Market, Royal Bank of Scotland, said “We are excited at the potential that this deal delivers for David to operate independently and secure the involvement of the next generation of his family in his business. Fishing businesses, like David’s, are absolutely essential for our coastal communities and as Scotland’s biggest bank for business, we welcome the opportunity to support the sector and businesses across our country to succeed and grow.”
The successful funding package highlights SBP’s commitment to empowering local businesses through hands on guidance, sector specific expertise and strategic financial solutions. SBP looks forward to continuing its partnership with CLS Marine Ltd as the business embarks on this exciting new journey, one set to benefit both the company and the wider coastal community.
