Entrepreneur reels in North Shields fishery with plans to scale up workforce

A North East fishery has announced that it is planning to create new jobs as it is purchased by a former shareholder.

Caley Fisheries’ North Shields operation has been acquired by 55 Fisheries, a company owned by former shareholder Andy Dixon.

All members of staff will be retained, with hopes for “a number of new jobs” next year as the business targets £5m turnover.

Andy sold his shares in the fishing business in 2017, but continued to run the business, now buying it back through his own company.

He commented: “Having worked for the business for the past 34 years and managed it since 1995, it obviously means a lot to me personally, and getting the chance to take it over was an opportunity I couldn’t turn down.

“Being able to make local decisions was a big part of the appeal of this acquisition.

“There are very few operations of our type along the English east coast, and as similar ones in other parts of the country have diminished, we’ve been able to bring in more business from elsewhere, a trend that we want to see continue.

“The response we’ve had from the businesses working on the Fish Quay and the offshore fleet has been really positive and we’ve got an excellent team in place that knows the industry inside out.

“Without the support and expert advice we’ve had from Hay & Kilner and Read Milburn, there’s no way this deal would have happened.

“Paul Marshall’s knowledge and understanding of our industry has also proved vital, and we’re excited about the prospects for developing the business next year and beyond.”

Mark Adams of the specialist corporate and commercial team at Hay & Kilner Law Firm in Newcastle acted on behalf of 55 Fisheries in the acquisition, with colleagues Sarah Hall, Nicola Tiffen and Ricky Handa covering the employment and commercial property aspects.

David Hodgson of North Shields-based accountants Read Milburn provided financial advice on the deal, while Paul Marshall of NatWest Bank is providing banking service to 55 Fisheries.

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