Ferry firm Red Funnel up for sale for £250m

Tue, 14 Mar 2017 | BUSINESS SALE

Isle of Wight ferry operator Red Funnel has been put up for sale for £250 million by owner Infracapital, an infrastructure investment arm of the Prudential.

Infracapital, which bought Red Funnel about a decade ago for £200 million, has appointed Macquarie, the Australian investment bank, to handle the sale.

Red Funnel, established in 1861, operates 30,000 trips a year from Southampton to Cowes on the Isle of Wight, carrying 3.4 million passengers and 860,000 vehicles. The firm employs around 460 people.

Red Funnel this week confirmed the news, first reported by the Sunday Times.

The firm’s chief executive Kevin George said: "Infracapital has been a supportive owner of Red Funnel for nine years during which time there has been significant investment and improvements in the services we provide. It is normal for an infrastructure fund manager such as Infracapital to review its investments from time to time.

“We remain totally committed to offering safe and reliable services, value for money and great customer service now and into the future.”

Red Funnel posted £17.6 million in profit in 2015, 23 per cent up on the previous year.

In 2015 Wightlink, Red Funnel’s rival, was sold by Macquarie to Balfour Beatty’s infrastructure arm.

Find leisure and lifestyle businesses for sale.


Share this article



Latest Businesses for Sale

Private Hire Taxi Company
North of England, UK Wide

Specialises in providing fast, reliable and trustworthy private hire transport services using a modern and maintained fleet for the public, commercial and corporate sectors. Service offering is enhanced through an industry-leading smartphone applicat...

Asking Price: Offers Invited
Turnover: £5,600,000

LEASEHOLD


Home Care Franchise
Mansfield, Nottinghamshire, East Midlands, UK

The franchisor offers a white-collar management franchise focusing in the dynamic multi billion pound care and support market. The role of a franchisee is one of working “on” the business, as opposed to working “in” the business – managing people, st...

Asking Price: £250,000
Turnover: £1,200,000

LEASEHOLD


Security Services Business
London, Buckinghamshire, South East, UK

Established business acquired as going concern in 2013 with excellent reputation for quality, service and reliability. An opportunity exists to purchase the business and assets of well-established security business. Long track record of profitability...

Asking Price: Offers Invited
Turnover: £1,900,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
22
 
Jan
 

Jewellery retailer enters administration | ADMINISTRATION

A Nottingham-based jewellery and watches company has fallen ...

 
19
 
Jan
 

Luxury lodging group enters administration | ADMINISTRATION

An Essex-based company which operates eight luxury lodge par...

 
17
 
Jan
 

Fine paper business enters administration | ADMINISTRATION

Arjowiggins UK, which operates a number of trading companies...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
20
 
Apr
 

Govt’s Green Investment Bank sold in £2.3bn deal | BUSINESS SALE

The government has sold its Green Investment Bank (GIB) to M...

 
22
 
Dec
 

Dong to sell 50% of offshore wind farm in £1.6bn deal | BUSINESS SALE

Clean energy firm Dong Energy is to sell 50 per cent of Race...

 
17
 
Feb
 

Future bright after ferry firm's buy-out | BUSINESS SALE

The future of the ferry firm Wightlink Ferries, which operat...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources