CVC DIF Acquires Majority Stake in Spanish Repair Yard Cernaval

CVC DIF has completed the acquisition of a majority stake in Cernaval, a Spanish shipyard specialising in the repair, maintenance and conversion of commercial vessels. The infrastructure arm of private equity firm CVC Capital Partners made the investment in the yard, which holds a long-term concession at the Port of Algeciras Bay. Established more than 30 years ago, Cernaval serves shipowners and maritime operators in the Algeciras Bay area. Its facilities include a 400 metre drydock, a 230 metre floating dock, quays and workshops, allowing it to handle both routine maintenance and complex repairs on large vessels. In 2025, the yard worked on 68 vessels. Fernando Moreno, Partner at CVC DIF, said Cernaval is well-positioned in a strategically important port with specialist facilities and an experienced team, adding that there is considerable scope to develop the business through further investment. CVC DIF said it would work with Cernaval's management team to modernise the shipyard, broaden its capabilities and strengthen commercial and operational processes, with the aim of reinforcing Cernaval's position in the western Mediterranean. Mario Lopez, founder of Cernaval, said the partnership opens a new chapter for improving facilities, processes and customer service while preserving the company's identity. Gerardo Landaluce, President of the Bay of Algeciras Port Authority, noted the port's position on the Strait of Gibraltar, describing the investment as enhancing the value proposition of the Port of Algeciras for ship repair, maintenance and conversion services.