CVC DIF acquires majority stake in Spanish shipyard Cernaval

CVC DIF, the infrastructure division of global investment manager CVC, announced the completion of the acquisition of a majority stake in Cernaval, a Spanish shipyard dedicated to the repair, maintenance and conversion of commercial vessels. The company operates a long-term concession at the Port of Algeciras, on the Strait of Gibraltar, through which more than 120,000 vessels transit each year.

Founded more than 30 years ago, Cernaval operates in Campamento, San Roque, within the Bay of Algeciras, and combines a 400-metre dry dock with a 230-metre floating dock, in addition to quays and workshops. According to Info Puertos, corporate documentation specifies that the dry dock is 50 metres wide and the floating dock 39 metres wide, and that the offering is rounded out by repair berths of 510 and 240 metres. The shipyard employs around 275 people annually and worked on 68 vessels in 2025, figures drawn both from CVC's statement and from data provided by Info Puertos. The latter source also noted that the announcement does not disclose the amount of the transaction or the percentage acquired.

Fernando Moreno, Partner at CVC DIF, highlighted that Cernaval holds a strong position at a strategic port, with specialized facilities and a team of proven experience, and pointed to considerable room to grow the company through investment. Mario López, founder of Cernaval, stated that the company was built on the efforts of its workforce, the trust of shipowners and its ties to the Bay of Algeciras, and said he will continue working with the company to ensure the project's success in this new stage alongside CVC DIF.

Gerardo Landaluce, President of the Port Authority of the Bay of Algeciras, stated that the deal confirms the appeal of the location for private investment and adds to the investment drive planned for the coming years, under an APBA Business Plan that envisages €677 million in own investment through 2030, alongside a further €711 million in private investment in projects linked to port activity. Landaluce also underscored Algeciras' strategic position on the Strait of Gibraltar, the world's second-busiest maritime highway, for the development of ship services.

Info Puertos clarified that those figures from the APBA plan correspond to overall port development and not to the purchase price of Cernaval or to its future modernization program, which both CVC DIF and the Port Authority itself link to expanding capacity, digitalization and the shipyard's energy efficiency, without yet specifying a budget or implementation timeline.