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
This well-established facilities management business in London, specialising in cleaning, maintenance, and security services, offers a unique opportunity with multi-year service agreements ensuring predictable recurring income. This opportunity prese...
This thriving value added meat company, prominently featured in major retailers like Tesco and Sainsbury's, boasts impressive growth with sales projected to more than double by 2026. The business has shown remarkable growth and we are poised to incre...
This London-based health and beauty dropshipping store presents a remarkable opportunity with its fully responsive website, a strong emphasis on eco-friendly products, and a mission to protect bees, setting it apart in the market. The sale of the bus...
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.