New Owner for Wightlink Ferries
Wightlink Ferries has a new owner. Balfour Beatty Infrastructure Partners LP (BBIP) has purchased the company from Macquarie European Infrastructure Fund (MEIF) for an undisclosed sum.
Chief Executive Russell Kew, Chief Operating Officer John Burrows, and their management team remain in charge of the company. Similarly, there will be no changes to staffing, pricing, routes or schedules as a result of the change of ownership.
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.”
Notes to Editors
Under MEIF’s ownership Wightlink invested £70million in five new ships and improved facilities, and the company reached peak levels of reliability and punctuality.
Balfour Beatty Infrastructure Partners LLP (BBIP) was set up in 2011 and completed its first investment in March 2013. The BBIP LP Fund predominantly invests in operational assets into its key target sectors of transport, energy and utilities across the UK, Europe, and North America. BBIP operates independently of its sponsor, Balfour Beatty plc.
BBIP is an infrastructure investment manager providing investment advisory services to investors in mid-market infrastructure assets in the energy, transport and utilities sectors in Western Europe and North America.