Image: Wightlink
An international investment firm has bought a 50% share in Isle of Wight ferry operator Wightlink.
Fiera Infrastructure has acquired the stake for an undisclosed sum from Basalt Infrastructure Partners, which will continue as co-owner.
The Toronto-based buyer said it was "committed to investing" in the firm.
Wightlink, which introduced a new £30m hybrid-power ferry - Victoria of Wight - in August said it was "very much business as usual" for staff.
Chief executive Keith Greenfield said: "Fiera coming on board at this time is an endorsement of our current strategy and the changes we have made such as the successful introduction of Victoria of Wight.
"We will continue to focus on safety, service performance and customer experience for our Isle of Wight customers and visitors alike."
The Marine Accident Investigations Bureau (MAIB) is continuing investigations into four breakdowns on Wightlink vessels last year, including an engine fire.
Wight Sky suffered "catastrophic failures" in August and December, investigators said in an interim report.
Another ship, Wight Light, suffered less serious engine failures in February and August.
Fiera describes Wightlink to investors as "one of the leading domestic ferry operators in the UK, serving 4.5 million passengers and running more than 45,000 crossings annually".
Fiera Infrastructure president Alina Osorio said the firm was "excited to work with the Wightlink management team to continue to deliver a best-in-class transportation service in the UK".
Wightlink was bought by Basalt Infrastructure Partners, formerly known as Balfour Beatty Infrastructure Partners, from Macquarie European Infrastructure Fund in 2015.
The company has provided ferry services to and from the island for 160 years and operates six ferries and two catamarans on three routes.
The Marine Accident Investigations Bureau (MAIB) is continuing investigations into four breakdowns on Wightlink vessels last year, including an engine fire.
Wight Sky suffered "catastrophic failures" in August and December, investigators said in an interim report.
Another ship, Wight Light, suffered less serious engine failures in February and August.
Fiera describes Wightlink to investors as "one of the leading domestic ferry operators in the UK, serving 4.5 million passengers and running more than 45,000 crossings annually".
Fiera Infrastructure president Alina Osorio said the firm was "excited to work with the Wightlink management team to continue to deliver a best-in-class transportation service in the UK".
Wightlink was bought by Basalt Infrastructure Partners, formerly known as Balfour Beatty Infrastructure Partners, from Macquarie European Infrastructure Fund in 2015.
The company has provided ferry services to and from the island for 160 years and operates six ferries and two catamarans on three routes.
source: BBC News