Welsh property development firm The Bailey Group has acquired the remaining 50% stake in ship repair and marine services company A&P Group for an undisclosed sum.

The acquisition covers four sites across the UK, including Middlesbrough, Falmouth, Chatham and Hebburn.

The property developer purchased a 50% stake in the company in September 2006.

Founded in 1971, A&P has clients in over more than 70 countries, including government departments and commercial shipping lines.