Australian yachtsman and entrepreneur, Syd Fischer, has purchased the assets of Sydney City Marine (SCM), which went into receivership early in April.

SCM opened in 2009 as a dedicated repair and refit facility for yachts and commercial craft up to 55m (180ft). Its facilities include an 800t travel lift for yachts up to 48m (160ft).

“With our long and successful history in boat building and maintenance, my team and I see this as an ideal opportunity to give competitive and competent service to all boat owners,” says Fischer, who has taken part in 40 Sydney to Hobart races and five America’s Cup challenges.

“Sydney City Marine is the best facility in Australia and we understand what owners want