A HAMPSHIRE marine firm has completed the purchase of a neighbouring marine engineering company.

Hamble-based Deacons has inked a deal to buy out Marine Power.

Marine Power is one of the oldest established dealers of Yanmar diesel engines.

Deacons and Marine Power share the same site on the Hamble River.

Bosses say the takeover will allow the firm to expand its repair and maintenance services.

Marine Power has traded for more than 40 years.

It was founded by Peter Meanwell at the Cabin Boatyard site on the opposite bank of the river to Deacons.

It then moved over to the Deacons site in the mid-1970s and has been owned and run by Pete and Christine Stevens, the daughter of Mr Meanwell, for 27 years.

During that time the firm has been dealers for Yanmar and Mercury Mercruiser marine diesel engines and sterndrives, which are distributed by Barrus.

The firm also stocks other engine-related equipment including fuel filters, engine cooling and exhaust systems and propeller shaft seals.

Deacons Marina and Boatyard was first established in 1922 by Francis Deacon and has been owned by the Fuller Group since the early 1960’s.

It was traditionally a boatbuilding and repair yard with river moorings.

As well as the base at Deacons Marina on the Hamble River it also has an outlet at Haslar Marina in Gosport.

The firm offers repair and maintenance services as well as a deep sea marina with 135 berths.

After the purchase Marine Power will still exist separately to Deacons.

Mr Stevens is retiring but taking on a consultancy role for the next few months.

A new general manager, Sean Frow, has been appointed to work alongside Deacons’ managing director Lucas Shotts.

Mr Shotts said: “We have worked very closely with Marine Power for many years.

“Having the advantage of being on the same site, we think it’s a perfect fit for our expanding repair and maintenance services and we look forward to growing the business.”