A CANADIAN infrastructure investment company has bought a 50 per cent stake in Wightlink.

Fiera Infrastructure Inc, a multinational mid-market direct infrastructure investor has acquired a 50 per cent equity interest in Wightlink from Basalt Infrastructure Partners LLP.

President of Fiera Infrastructure, Alina Osorio, said: “Fiera Infrastructure is very pleased with this addition to its diversified global portfolio.

“We believe that Wightlink is uniquely positioned within its market and has a long history of operating on the Solent.

"We are delighted to be the new owners of the largest cross-Solent ferry operator and remain committed to investing in the business.

"We believe our investors will benefit from the increased diversification of our portfolio through exposure to the transportation subsector.

"We are also excited to work with the Wightlink management team to continue to deliver a best-in-class transportation service in the UK.”

Wightlink staff have been informed of the deal.

Basalt will continue to have a 50 per cent equity position in Wightlink.

The transacton closed in May 2019.

In an internal announcement, Keith Greenfield, chief executive of Wightlink, said: "A new investor, Fiera Infrastructure, has joined our existing owners Basalt Infrastructure Partners as shareholders of Wightlink, with both funds owning 50 per cent each.

"Fiera Infrastructure are a long term infrastructure fund headquartered in Toronto with offices in London and New York.

"Fiera are long term investors and an excellent match for Wightlink, which also has a long term horizon.

"For everyone working at Wightlink, it is very much business as usual.

"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 management team and I are very much looking forward to working with our new and existing shareholders as we plan an exciting future for Wightlink and for our customers."

Don't forget to like us on Facebook and follow us on Twitter.