CVC DIF has finalised the acquisition of a majority stake in Cernaval, a Spanish shipyard specialising in the repair, maintenance and conversion of commercial vessels. The transaction brings the shipyard under the ownership of the infrastructure investment arm of CVC Capital Partners, with plans to support its further development.
Located at the Port of Algeciras Bay, Cernaval operates under a long-term concession in one of the Mediterranean’s strategically positioned maritime hubs. Established more than 30 years ago, the shipyard serves shipowners and maritime operators operating in the Algeciras Bay area.
Its infrastructure includes a 400-metre dry dock, a 230-metre floating dock, quays and workshops. These facilities enable the company to handle a wide range of work, from routine vessel maintenance to complex repairs involving large ships. In 2025, Cernaval carried out work on 68 vessels.
Fernando Moreno, Partner at CVC DIF, highlighted the shipyard’s strategic location, specialised infrastructure and experienced workforce as key assets underpinning the investment. He said the company sees significant opportunities to expand the business through investment in the shipyard and the development of its capabilities.
Following the acquisition, CVC DIF plans to work alongside Cernaval’s management team to support the company’s next phase of growth. Priorities include modernising the facilities, extending the range of services offered and improving commercial and operational processes. The objective is to reinforce the shipyard’s competitive position in the western Mediterranean.
For Cernaval’s founder, Mario Lopez, the partnership represents an opportunity to build on the company’s established foundations while preparing for future development. He noted that the shipyard’s progress has been driven by the efforts of its team, the confidence of shipowners and its close relationship with the Port of Algeciras Bay and the surrounding region.
Lopez said the agreement with CVC DIF would open a new chapter focused on improving facilities, processes and customer service, while preserving the identity and expertise developed since the company’s establishment. He also confirmed that he would continue supporting the business to help ensure the success of the project.
The investment has also been welcomed by the Port of Algeciras Bay Authority. Its president, Gerardo Landaluce, stressed the importance of the port’s location on the Strait of Gibraltar, described as the world’s second-busiest maritime highway, for the development of vessel services, repairs, maintenance and conversions.
According to Landaluce, investments of this kind strengthen the overall service offering and commercial appeal of the Port of Algeciras, reinforcing its role as a strategic hub for maritime operations.
