Weymouth and Portland marinas will be among those affected by a new merger that plans a £10m investment nationwide.

Dean & Reddyhoff and Quay Marinas signed a merger deal for an undisclosed sum.

The agreement includes a planned £10m investment programme for over the next five years, although it is not yet known how this money will be distributed.

This new business will manage boat yards, boat repair and maintenance, and boat sales.

Dean & Reddyhoff operates marinas in Weymouth inner harbour off Commercial Road and at Osprey Quay, Portland.

Michael Prideaux, Managing Director of Dean & Reddyhoff, said, “Our customers at all our marinas know what they are getting – a friendly, warm, professional experience and a great atmosphere.

“By merging with Quay Marinas, we will be bringing together the strengths of both companies and our joint ambition is to make our marinas the destination of choice for all types of boaters in the UK, across the whole of the UK.”

The deal is expected to be completed in the next three months, and new business would manage 11 marina destinations across the UK.

In addition to providing marina services, the new company will also offer customers the opportunity to learn to sail, buy a boat, eat and drink, have their boats maintained.

It will operate the second largest network of coastal marinas in the country.

The destinations are: Bangor, Conwy Quays, Deacons, East Cowes, Haslar, Penarth, Portishead, Portland, Rhu, Royal Quays, Newcastle and Weymouth.

Simon Haigh, Managing Director of Quay Marinas, said, “We are all looking forward to a busy boating season.

“We are confident that our visitors and berth holders can look forward to us making it even easier for them to spend time out on the water.

“Whether they are cruising, racing, fishing or diving, behind the scenes we’ll be working hard to make sure that our new company puts what our customers want at the heart of our business.”

All marinas owned by the new company are expected to be operating under one brand from autumn 2019.