Future bright after ferry firm's buy-out

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


Share this article



Latest Businesses for Sale

Fibre Optic & IT Cabling Solutions
South East, UK

Designs, supplies and installs fibre optic and IT cabling solutions for clients throughout the UK and Europe. Offers electrical, structured cabling and network/Wi-Fi solutions, AV equipment and LAN/ethernet, in addition to project management, consult...

Asking Price: Offers Invited
Turnover: £2,247,561

LEASEHOLD


Importer of Toys & Gifts for the Leisure Industry
UK Wide

Imports an extensive selection of toys and gifts, which are sold to trade customers throughout the UK and internationally. Has established a strong reputation within its sector for its innovative product range, competitive prices and exceptional serv...

Asking Price: Offers Invited
Turnover: £6,135,933

FREEHOLD


Mental Health Recovery Programmes
UK Wide

Provides psycho-educational mental health recovery and well-being programmes and professional recovery practitioner accreditation, delivering support from BACP and BPS accredited professionals to individuals throughout the UK and internationally. Has...

Asking Price: Offers Invited
Turnover: £1,500,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
14
 
Jul
 

Directors of distressed companies get more breathing space | BUSINESS NEWS

The temporary suspension of wrongful trading provisions intr...

 
13
 
Jul
 

Yorkshire retailer Peter Jones enters administration | ADMINISTRATION

Well-known Wakefield-based retailer Peter Jones has entered ...

 
10
 
Jul
 

Mobile phone supplier and recycler goes into administration | ADMINISTRATION

Mobile phone refurbishment company Redeem UK has gone into a...

Free guide: 10 Biggest Buyer Mistakes

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

Email


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