Brittany Ferries, in consortium with the Columbia Threadneedle European Sustainable Infrastructure Fund (ESIF), has reached an agreement to acquire 100 percent of Condor Ferries from Macquarie Infrastructure and Real Assets (MIRA), the company said in its release. Contracts have been signed and the deal is expected to be executed following scrutiny by relevant regulatory authorities.
Brittany Ferries will hold a minority stake.
Condor Ferries is an operator of lifeline freight and passenger ferry services. Each year, Condor Ferries carries approximately 1 million passengers, 200,000 passenger vehicles, and over 900,000 freight lane meters between Guernsey, Jersey, the United Kingdom, and the Port of St. Malo in France.
Brittany Ferries began operations in 1973. Today its fleet includes twelve ships connecting France, the United Kingdom, Ireland and Spain. It operates from three ports in the UK, Portsmouth, Poole and Plymouth and carries around 2.5 million passengers every year, as well as 210,000 freight units.
ESIF is a new open-ended, evergreen fund that invests in European mid-market equity assets, managed by leading global asset management group Columbia Threadneedle Investments.
About Brittany Ferries
Brittany Ferries has established itself as the national leader in French maritime transport: an atypical leader, under private ownership, still owned by a Breton agricultural cooperative. Eighty five percent of the company’s passengers are British. Around 210,000 freight units are carried each year.
About Columbia Threadneedle Investments
Columbia Threadneedle Investments is a leading global asset manager that provides a broad range of actively managed investment strategies and solutions for individual, institutional and corporate clients around the world.
About Condor Ferries
Condor Ferries operates the high-speed ferries, Condor Liberation and Condor Rapide. In 1999 Commodore Clipper, a conventional car, passenger and freight carrying vessel was introduced to the fleet to offer an all-weather, year round service. Each year, Condor Ferries carries just under one million passengers and 200,000 passenger vehicles.
Condor Ferries also operates Commodore Goodwill, as a freight only vessel. The Condor Ferries’ fleet carries 100,000 freight vehicles into the Channel Islands each year as well as exporting tonnes of local produce.
About Macquarie Infrastructure and Real Assets
Macquarie Infrastructure and Real Assets (MIRA) is one of the world’s leading alternative asset managers.