Tue, 17 Feb 2015 | BUSINESS SALE
The future of the ferry firm Wightlink Ferries, which operates cross-Solent services between Portsmouth and the Isle of Wight, is bright after news of its buy-out.
The ferry company was purchased for an undisclosed sum from previous owners Macquarie European Infrastructure Fund (MEIF) by Balfour Beatty Infrastructure Partners LP (BBIP). The sale has ensured that no changes will be made to the current workforce, pricing, schedules or routes.
The takeover will see chief executive Russell Kew, chief operating officer John Burrows, and their management team remain in their positions at the firm. Employee numbers total around 500, but rise to 600 during the busy summer months.
BBIP LLP partner Steven Lowry said of the acquisition: “Wightlink is a strong and stable company with the opportunity to grow and develop in the years to come.
“We are delighted to be the new owners of the largest cross-Solent ferry operator and are committed to investing in the business, and supporting the management team’s focus on safety and improving customer service.”
Kew added that the purchase will secure the company's future, which is not only good for their shareholders, but also staff and customers who work on and use their catamarans and car ferry services will see no changes as a result.
______________________________________________________________________
Related information:
New business for sale listings
Dedicated acquisition search service
An established, award-winning care home with nursing, that is located in a popular East Midlands town and has come to market for the first time so that our client can retire.
For sale a lucrative portfolio of residential care homes conveniently clustered in the Northwest of England, offering residential and dementia care.
A profitable care home with nursing located in an East Midlands town. Well-presented and extended accommodation with 57% of the ground floor bedrooms being ensuite.
03
|
May
|
Three Aberdeen legal firms merge to form all-service provider | MERGER
Three prominent Aberdeen legal businesses have merged to for...
03
|
May
|
BGF-backed asbestos services firm makes third acquisition | BUSINESS SALE
Environmental Essentials, a specialist asbestos services fir...
03
|
May
|
Logistics firm acquires pair of Derbyshire businesses | BUSINESS SALE
A logistics firm headquartered in Preston has acquired a pai...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.