Sunday, February 5, 2023

CJR Propulsion In Management Buyout

One of the UK’s most respected marine manufacturers has undergone a management buyout. CJR Propulsion, which designs and manufactures precision engineered propellers and sterngear for leading superyacht, commercial, and leisure brands around the world, has been bought by four former members of the management team for an undisclosed sum. 

Former Technical Sales Manager Alex Stevens, Head of Propeller Design Simon Lewis, Purchasing Manager Hannah Carter, and Operations Manager Oliver Goodley all become directors of the business. Former Managing Director Mark Russell and Belinda Russell will continue in the role of Chairman and Director.

The move ensures stability for staff, partners, and customers as part of a phased retirement plan.

Mark Russell said: “It will very much continue to be business as usual at CJR as our management team take up their new roles as Directors. I will still very much be involved in overseeing CJR.  Having spent many years building an industry-leading business, I’m delighted to see this dedicated, capable team take the helm. Together, they’ve helped get us to where we are now and I know they will continue to drive forward plans to see CJR Propulsion continue to grow.”

CJR Propulsion, which has three premises in Southampton, a division based in the USA, and partners in strategic locations around the world is widely respected for constantly innovating and investing in the latest technology to deliver solutions to its discerning worldwide customers. Since CJR’s formation in 1948, the company has gone from strength-to-strength and today boasts one of the most advanced marine manufacturing facilities in the country. From its multi-million pound ‘true 5-axis’ CNC machining centre, to its advanced computational fluid dynamics programme and in-house ‘supercomputer’, CJR‘s investment has outstripped industry standards by over 400% in recent years.

New Technical Sales Director, Alex Stevens added: “This is an extremely exciting time for us and the future of CJR Propulsion. Together, our team of new directors has over 30 years experience of working at CJR and we have learnt so much from Mark and Belinda in that time.  We’re very proud of CJR’s reputation for delivering technical, innovative marine solutions and being able to say that we are joint owners of the company is very special.

“This move secures the longer term future of the business, so our customers know they can continue to expect the exceptional service they know and depend on.”

Alex Stevens is a Chartered Naval Architect with 25 years experience in the marine industry.

Simon Lewis has an Engineering Doctorate and has worked at CJR for 12 years

Hannah Carter has a BSc and has worked at CJR for 15 years

Oliver Goodley BEng MSt is a qualified engineer with 10 years experience in Operations and Project Management

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