It has been announced this morning that Isle of Wight ferry company, Wightlink, has been sold.
The previous owner, Australian investment bank, Macquarie, has sold Wightlink to Balfour Beatty Infrastructure Partners LLP (BBIP) (read more about BBIP here).
The company was purchased for an undisclosed sum.
Macquarie European Infrastructure Fund bought Wightlink from its previous owner in June 2005 for just over £230m. At the time of the sale, it was reported that the previous owners of Wightlink has £133m of secured loan notes, plus £25m in mezzanine finance.
BBIP LLP Partner Steven Lowry says:
“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.”
Russell Kew says:
“Wightlink has a strong and secure future with its new shareholders, which is good news for the company, our customers and our staff. We look forward to working with BBIP to grow the business in years to come.”
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Image: seattlecamera under CC BY 2.0
