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
Offers permanent and temporary placements to candidates operating within the accountancy and financial sectors. Maintains long-term relationships with its clients, acting as a trusted advisor to provide impartial and effective support throughout the...
LEASEHOLD
Provides a comprehensive consultancy service within the building industry. Works with major BEMS systems manufacturers and suppliers and has extensive in-house knowledge. Offers invited.
LEASEHOLD
Strong second-tier management team in place, able to manage the day-today operations of the business. Serves 200 active clients in the healthcare, veterinary and life science sectors - with some long-standing client relationships in place since incep...
LEASEHOLD
|
13
|
|
Dec
|
Gateley acquires T-three | BUSINESS SALE
Commercial law and professional services firm Gateley has ac...
|
12
|
|
Dec
|
Appello acquires Mevivo Careline | BUSINESS SALE
Living solutions provider Appello has acquired telecare and ...
|
11
|
|
Dec
|
PiggyBank owner enters administration | ADMINISTRATION
DJS Limited, the parent company of payday lender PiggyBank, ...
Sign up to receive our acquisition alert emails to get your FREE guide
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