CJR Propulsion Acquires the Assets of Oval Stainless Assets

Southampton based propeller manufacturers CJR Propulsion have completed an agreement to purchase all commercial assets and intellectual property from the superyacht stainless steel fabricator, Oval Stainless formerly Oval Three Six One.

The takeover for an undisclosed sum should be completed by the end of February and includes all assets and the transfer of all current employees.
 The continued employment of Oval’s existing, staff will form part of the newly established CJR Fabrication, bolstering the Hampshire based business’ current product line-up, as well as providing new opportunities within the marine sector, as CJR’s managing director Mark Russell explains:
“Oval Stainless’ assets are an excellent strategic fit for CJR and we are delighted to have finalised this significant acquisition in such a short space of time. The integration of their intellectual property and physical assets instantly strengthens our value in the marine sector and enables us to bring the production of high quality deck gear and stainless stern-gear in house for the first time.”

Oval Stainless currently specialises in producing stainless steel products for a wide range of applications within the commercial and domestic arena, including oval and round tube, bespoke furniture, interior and exterior design, as well as marine, tanks and architectural equipment.