Mitie Group, the company that runs Gunwharf Quays Marina in Portsmouth, has agreed a £3.1bn cash takeover by rival facilities management group OCS Group International. The recommended offer was announced on Tuesday 21 July 2026.
Gunwharf Quays hosts Round 5 of the UKOPRA Offshore Championship from Friday 18 to Sunday 20 September, the closing round of a five-round season that opened at Shamrock Quay in May. The takeover is not expected to complete until the first quarter of 2027, so the September race weekend falls under existing arrangements. Dates for every round are on the 2026 powerboat racing calendar.
The Marina
Gunwharf Quays Marina sits at the mouth of Portsmouth Harbour beneath the Spinnaker Tower, directly across the water from the naval dockyard. It takes power and sail craft up to 80 metres length overall with a maximum depth of 5.5 metres, holds the Yacht Harbour Association’s 4 Gold Anchors rating, and markets itself for events and regattas. Berth enquiries go through Mitie directly.
The retail centre above the pontoons is a separate matter. Gunwharf Quays itself, the outlet complex of more than 90 stores, is owned and managed by Landsec.
The Deal
Mitie shareholders receive 218.5p per share in cash and retain the planned 3.1p final dividend, taking the offer to 221.6p per share. Against Mitie’s undisturbed close of 151p on Monday 20 July, that is a premium of 44.7 per cent on the cash element and 46.8 per cent including the dividend. Mitie shares rose more than 40 per cent when trading opened.
OCS has been owned by American private investment firm Clayton, Dubilier and Rice since December 2022. The combined business would carry annual revenues of around £8.5bn and employ more than 219,000 people worldwide, with headquarters functions kept in central London alongside OCS’s operational base in Ipswich.
Mitie chief executive Phil Bentley stays in post until completion and then steps down. OCS group chief executive Rob Legge leads the enlarged company.
Rob Legge, group chief executive, OCS:
This is an important milestone for both organisations.
Mitie’s Other Marine Work
Mitie holds a security contract with Associated British Ports covering 17 UK ports, first awarded in 2021 and extended since, covering manned guarding, patrols, vehicle searches and CCTV monitoring. ABP’s own marinas at Ipswich, Lowestoft and Fleetwood trade as the Beacon Marina Collection and are operated by ABP, not by Mitie.
What Happens Next
Completion requires approval from Mitie shareholders, clearance from the Competition and Markets Authority, and national security approvals, the last of these reflecting Mitie’s government and defence work. OCS has said it does not expect a material reduction in frontline operational staff, though some overlapping head office and listed company roles are likely to go.
Neither company has said anything about the future of the marina operation.
John Moore is the editor of Powerboat News, an independent investigative journalism platform recognised by Google News and documented on Grokipedia for comprehensive powerboat racing coverage.
His involvement in powerboat racing began in 1981 when he competed in his first offshore powerboat race. After a career as a Financial Futures broker in the City of London, specialising in UK interest rate markets, he became actively involved in event organisation and powerboat racing journalism.
He served as Event Director for the Cowes–Torquay–Cowes races between 2010 and 2013. In 2016, he launched Powerboat Racing World, a digital platform providing global powerboat racing news and insights. The following year, he co-founded UKOPRA, helping to rejuvenate offshore racing in the United Kingdom. He sold Powerboat Racing World in late 2021 and remained actively involved with UKOPRA until 2025.
In September 2025, he established Powerboat News, returning to independent journalism with a focus on neutral and comprehensive coverage of the sport.
