CALMAC FERRIES LIMITED

🌳Matureactive
SC302282 · ltd · incorporated 2006-05-12
Investment thesis
Well-run mature business — low negotiation leverage; premium likely.
Why interesting: Textbook target; clean filings, stable trading.
Why risky: No pressure on seller; any deal likely at full price.
Opportunity decay
hardening · 12-months
Already tight — no obvious softening catalysts on the horizon.
  • · Thesis: well-run, low negotiation leverage
🔒Estimated value
Upgrade to see
Turnover
not disclosed
Net worth
book net assets
Opportunity
77/100
Strong
🔔
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What this business does
Primary activity: SIC 50100
Sector: Transportation & storage
Investor take
Pursue
Active trading company with a 76-year-old founder — textbook succession opportunity.

Opportunity 77/100 (strong), bankability 67/100. Strong seller-intent signal (73/100, director aged 76). Share purchase looks the cleaner deal structure. Biggest value-creation lever: Consolidate lender relationships. 5 distinct lenders creates friction — refinance into single-lender structure for cleaner diligence. Most likely exit: share sale to pe / searcher (65/100).

🏦

Refinance opportunity

6 live charges · 5 lenders · oldest 19.5y

35/100
too messy

Refinance path is blocked by complexity. Rethink structure or expect bespoke, expensive terms.

  • · Oldest live charge is 19.5 years old — likely at or near maturity.
  • · 5 lenders named — inter-creditor friction likely.
  • · Legal-friction score 30/100 — workable, but lender will want more DD.

Data confidence

Overall: medium (60/100)

Adequate coverage. AI outputs are reliable for the sections scored high; verify the rest in diligence.

Company profile
address, 1 SIC codes, incorporation date
100
Financials
No iXBRL financials extracted
0
Lenders & charges
6 charges (6/6 with lender, 6/6 with type)
90
Directors & officers
37 officers (8 active, 37 linked, 36 with DOB)
89
Ownership & PSC
1 active PSC(s) of 1 total, 1 with control declared
90
Director network
10 connected companies via shared directors
75
Filing history
132 filings on record
85
Gazette notices
No matching gazette notices (standard for active companies)
60
Opportunity Score
77/100Strong
PassWatchWorth a lookStrongExceptional 

Solid opportunity signal. Worth a dedicated memo and management meeting.

Business quality
70
Active, clean filings, stable charge profile.
Acquirability
70
Strong succession / seller-readiness signals.
Risk profile
77
Few red flags.
Signal strength
100
Good data coverage for analysis.

Recent activity

Last 30 days
0
filings
Last 90 days
0
filings
Last 180 days
3
filings
  • 2 officers
  • 1 accounts
Counts from Companies House filing history.
Corporate timeline (99 events)Click to expand
  1. 2026-01-06
    📄
    accounts-with-accounts-type-full
    accounts · AA
  2. 2025-11-13
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  3. 2025-11-11
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  4. 2025-11-03
    CONWAY, Lucy appointed
    director
  5. 2025-11-03
    NOLAN, John Simon appointed
    director
  6. 2025-09-30
    📄
    memorandum-articles
    incorporation · MA
  7. 2025-09-30
    📄
    resolution
    resolution · RESOLUTIONS
  8. 2025-02-14
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  9. 2025-02-12
    MACKISON, Duncan John appointed
    director
  10. 2025-01-10
    📄
    accounts-with-accounts-type-full
    accounts · AA
  11. 2024-08-26
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  12. 2024-08-06
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  13. 2024-07-25
    O'CONNOR, Sharon Marie resigned
    director
  14. 2024-07-12
    DRUMMOND, Robert Lindsay resigned
    director
  15. 2024-04-03
    📄
    accounts-with-accounts-type-full
    accounts · AA
  16. 2023-12-14
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  17. 2023-12-01
    RYAN, Karen appointed
    director
  18. 2023-07-07
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  19. 2023-06-19
    BEATON, David Malcolm appointed
    director
  20. 2022-12-29
    📄
    accounts-with-accounts-type-full
    accounts · AA
  21. 2022-12-01
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  22. 2022-12-01
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  23. 2022-11-30
    BROWELL, Susan Margaret resigned
    director
  24. 2022-11-30
    COMERFORD, Michael Brendan resigned
    director
  25. 2022-09-27
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  26. 2022-09-16
    MACKISON, Duncan John resigned
    director
  27. 2022-03-07
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  28. 2022-02-28
    TAIT, Albert Victor resigned
    director
  29. 2022-02-22
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  30. 2022-02-14
    O'CONNOR, Sharon Marie appointed
    director
  31. 2022-02-08
    📄
    termination-director-company-with-name-termination-date
    officers · TM01
  32. 2022-01-31
    MCGIBBON, David Campbell resigned
    director
  33. 2022-01-11
    📄
    appoint-person-director-company-with-name-date
    officers · AP01
  34. 2022-01-03
    OSTERGAARD, Erik Jorgen appointed
    director
  35. 2021-12-20
    📄
    accounts-with-accounts-type-full
    accounts · AA
  36. 2021-11-20
    HAGAN, Stephen resigned
    director
  37. 2021-11-20
    STIRLING, James Martin resigned
    director
  38. 2021-11-16
    MACRAE, John Grant appointed
    director
  39. 2021-11-08
    INGRAM, Timothy John appointed
    director
  40. 2019-10-15
    🔓
    Charge satisfied #5
  41. 2019-10-15
    🔓
    Charge satisfied #4
  42. 2019-04-24
    MACKISON, Duncan John appointed
    director
  43. 2017-12-01
    DORCHESTER, Martin resigned
    director
  44. 2016-12-01
    BROWELL, Susan Margaret appointed
    director
  45. 2016-12-01
    COMERFORD, Michael Brendan appointed
    director
  46. 2016-11-29
    🔓
    Charge satisfied #3
  47. 2016-11-29
    🔓
    Charge satisfied #2
  48. 2016-11-24
    🔒
    Charge registered #6
    Lender: The Royal Bank of Scotland PLC
  49. 2016-10-01
    🔒
    Charge registered #5
    Lender: Maritime Leasing (No. 19) Limited
  50. 2016-10-01
    🔒
    Charge registered #4
    Lender: Caledonian Maritime Assets Limited
Showing most recent 50 of 99 events

Owner dependency

55/100
Moderate — manageable with handover

Some founder dependency, but not acute. A structured handover period should cover most risk.

FACTORS
  • -8 active directors: Broader management team in place — suggests transferable governance.
  • +Founder age: Director aged approximately 76 — succession pressure is live.

Succession & seller-readiness

60/100
Strong succession signal

Multiple signals suggest succession is on the horizon. Candidate for proactive outreach.

SIGNALS
  • primaryFounder aged 70+: Senior director is approximately 76 years old. Natural succession window is now.

Red flags

1 med ·
Charge satisfaction-then-recreation pattern
medium

Multiple instances where a charge was satisfied and a new charge created within 6 months. Suggests active refinancing cycle.

Group structure

David Macbrayne Ltd is the ultimate parent — holding 75%+ shares. This company sits inside their group.

🏛️
David Macbrayne Ltd
Corporate parent · holds 75-100% shares · board control
ultimate parent
CALMAC FERRIES LIMITED
This company · SC302282

Parent relationships inferred from Persons with Significant Control filings. Full subsidiary tree requires reverse-lookup (coming).

Shareholders & ownership

1 active beneficial owner · dominant holder ≥75%
NameSharesVoting rightsNature of controlNotified
David Macbrayne Ltd
Corporate entity
75100%
board control75-100% shares · board control06/04/2016

From Companies House Persons with Significant Control filings. Share ranges are banded per the public PSC regime.

🔒Co-director network graph

Radial SVG graph showing every company connected via shared directors, colour-coded by status.

Available from the Pro tier upwards.

See pricing →

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Peers ranked by estimated value, then turnover, then opportunity score.See all →
🔒Tailored diligence questions

7 specific questions generated from this company's actual signals — liquidity, leverage, director age, charge count, red flags, age-of-company.

Available from the Pro tier upwards.

See pricing →
🔒Advanced scoring suite

Exit-route ranking, improvement thesis, quiet-distress detector, covenant-pressure proxy, extraction monitor, approaching triggers, ownership drift, local cluster, value trap, debt capacity, archetype classification — 48+ scoring modules.

Available from the Pro tier upwards.

See pricing →

Company details

Statusactive
Typeltd
Incorporated2006-05-12
Jurisdictionscotland
Primary SIC50100 — SIC 50100

Registered office

The Ferry Terminal
Gourock
PA19 1QP

Filing status

Accounts
Next due: 2026-12-31
Last made up to: 2025-03-31
Confirmation statement
Next due: 2026-05-26
Last: 2025-05-12

Officers (8 active · 29 resigned)

BEATON, David Malcolm
director · ~59y · appointed 2023-06-19
View their other companies + combined net worth →
Active
CONWAY, Lucy
director · ~65y · appointed 2025-11-03
View their other companies + combined net worth →
Active
INGRAM, Timothy John
director · ~69y · appointed 2021-11-08
View their other companies + combined net worth →
Active
MACKISON, Duncan John
director · ~59y · appointed 2025-02-12
View their other companies + combined net worth →
Active
MACRAE, John Grant
director · ~76y · appointed 2021-11-16
View their other companies + combined net worth →
Active
NOLAN, John Simon
director · ~58y · appointed 2025-11-03
View their other companies + combined net worth →
Active
OSTERGAARD, Erik Jorgen
director · ~67y · appointed 2022-01-03
View their other companies + combined net worth →
Active
RYAN, Karen
director · ~67y · appointed 2023-12-01
View their other companies + combined net worth →
Active
MCKENZIE, Gordon White
secretary · appointed 2006-05-12 · resigned 2011-04-30
Resigned
BROWELL, Susan Margaret
director · ~67y · appointed 2016-12-01 · resigned 2022-11-30
Resigned
COMERFORD, Michael Brendan
director · ~65y · appointed 2016-12-01 · resigned 2022-11-30
Resigned
DORCHESTER, Martin
director · ~62y · appointed 2012-05-11 · resigned 2017-12-01
Resigned
DRUMMOND, Robert Lindsay
director · ~57y · appointed 2012-04-18 · resigned 2024-07-12
Resigned
EASTON, Murray Simpson
director · ~75y · appointed 2014-02-21 · resigned 2016-01-01
Resigned
GILLIES, Ian
director · ~79y · appointed 2006-10-01 · resigned 2011-05-27
Resigned
HAGAN, Stephen
director · ~72y · appointed 2013-01-28 · resigned 2021-11-20
Resigned
KERR, John
director · ~68y · appointed 2006-10-01 · resigned 2007-12-14
Resigned
LYNCH, Alexander Mckay
director · ~77y · appointed 2006-07-26 · resigned 2012-04-18
Resigned
MACDONALD, Alexander Allan
director · ~84y · appointed 2006-10-01 · resigned 2009-03-31
Resigned
MACKISON, Duncan John
director · ~59y · appointed 2019-04-24 · resigned 2022-09-16
Resigned

Click a director name to see their full track record across all companies.

Mortgages & charges

6
Total charges
1
Outstanding
1
Active lenders
Status:Lender:6 of 6 shown
TypeProperties
outstanding
Lloyds Banking Group
The Royal Bank of Scotland PLC
A registered charge24/11/2016
satisfied
Maritime Leasing (No. 19)
Maritime Leasing (No. 19) Limited
A registered charge01/10/201615/10/2019
satisfied
Caledonian Maritime Assets
Caledonian Maritime Assets Limited
A registered charge01/10/201615/10/2019
satisfied
Caledonian Maritime Assets
Caledonian Maritime Assets Limited
A registered charge29/08/201429/11/2016
satisfied
Maritime Leasing (No.19)
Maritime Leasing (No.19) Limited
A registered charge29/08/201429/11/2016
satisfied
Royal Bank Leasing
Royal Bank Leasing Limited
Managers undertaking1 property23/10/200621/07/2014
Click column headers to sort. Use filters above to narrow by status and lender.

Recent filings (132 total)

accounts-with-accounts-type-full
accounts · AA
2026-01-06
appoint-person-director-company-with-name-date
officers · AP01
2025-11-13
appoint-person-director-company-with-name-date
officers · AP01
2025-11-11
memorandum-articles
incorporation · MA
2025-09-30
resolution
resolution · RESOLUTIONS
2025-09-30
confirmation-statement-with-no-updates
confirmation-statement · CS01
2025-05-13
appoint-person-director-company-with-name-date
officers · AP01
2025-02-14
accounts-with-accounts-type-full
accounts · AA
2025-01-10
termination-director-company-with-name-termination-date
officers · TM01
2024-08-26
termination-director-company-with-name-termination-date
officers · TM01
2024-08-06
confirmation-statement-with-updates
confirmation-statement · CS01
2024-05-15
accounts-with-accounts-type-full
accounts · AA
2024-04-03
appoint-person-director-company-with-name-date
officers · AP01
2023-12-14
appoint-person-director-company-with-name-date
officers · AP01
2023-07-07
confirmation-statement-with-no-updates
confirmation-statement · CS01
2023-05-15