Lowestoft-based SLP, which will be renamed Sembmarine SLP, will be 70% owned by Sembcorp Marine subsidiary SMOE, with the remaining 30% held by SLP’s existing eight-strong management team, led by managing director Paul Thomson.

Thomson said the £2.5 million ($4 million) deal, which includes the settlement of SLP’s inter­company loans from Smulders, would be mutually beneficial for both parties and had given the company confidence for the future.

The