Red Funnel Ferries Limited, the historic operator linking Southampton and the Isle of Wight for 164 years, has been acquired by Njord Partners, a London-based special situations investment firm [according to their website]. The ferry company recently experienced headwinds.
Njord Partners sees the acquisition as a compelling opportunity to unlock value through targeted capital deployment and operational improvements. The investment aligns with their wider strategy of revitalising core UK infrastructure assets while delivering sustainable returns for stakeholders.
Njord Partners also have Ambassador Cruise Line and Geoquip Marine in their portfolio.
Red Funnel CEO Fran Collins welcomed the deal, noting it marks the beginning of a new chapter in which Red Funnel can strengthen its services with the support of Njord Partners.
Isle of Wight East MP Joe Robertson calls it “a bad day for the island” [Facebook]. He, and others, are worried about ticket prices. “The Government must step in,” he says.
Vectis Ferries, a consortium with local maritime experts and former Red Funnel executives, had earlier submitted a £100 million bid to take over Red Funnel. It was rejected.
