Basalt Infrastructure Partners II LP acquires 30% interest in Caronte & Tourist
Basalt Infrastructure Partners II LP (“Basalt”) announces it has closed the acquisition of a 30% interest in Caronte & Tourist (the “Company”). The terms of the transaction are not being disclosed.
The Company owns and operates 26 Roll-on/Roll-off ferries (“Ro-Ro”), providing lifeline ferry services between Sicily and the Italian mainland (“Stretto di Messina”) and between Sicily and the Sicilian minor islands (“Isole Minori”).
Rob Gregor, Managing Partner of Basalt Infrastructure Partners LLP, advisor to Basalt, said, “We are excited by the opportunity to invest in Caronte & Tourist through a bilateral acquisition process and along side experienced local operational investors. Caronte & Tourist is a highly attractive investment opportunity in a diversified ferry business with core infrastructure characteristics. The Company has a proven and well established management team responsible for a strong core business with additional growth potential”.
Mr Antonino Repaci, Chairman of Caronte & Tourist said, “We are very excited to welcome Basalt as a long term partner in our business. Basalt is an experienced international investor including in the ferry sector. Their investment coupled with our market-leading position and knowledge help deliver the industrial plan of the Company, growing the business to meet the needs of the Island and pursue further growth opportunities”.
For media inquiries
John Hanna, Principal +4420 7766 3366 email@example.com
Basalt is an infrastructure equity investment fund focusing on investments in utilities, energy and transport infrastructure in Europe and North America. The acquisition of Caronte & Tourist is the fifth transaction entered into by Basalt. Other Basalt investments include Detroit Renewable Energy, North Star, Mareccio Energia and DB Energy Assets.
For more information on Basalt please visit www.basaltinfra.com
About Caronte & Tourist
C&T is a shipping group with over 50 years of history, a leader in the ferry segment (operating mainly in the Strait of Messina and linking all the Sicilian minor islands). Today it has around 1,000 employees and a turnover of just under € 220 million. It has recently launched the “Elio”, the first ferry operating in the Mediterranean using LNG propulsion. The group also plans to build from 3 to 5 new ships in the next five years with an investment plan topping €200 million.