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
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...
LEASEHOLD
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...
FREEHOLD
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...
LEASEHOLD
|
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...
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