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PRINT THIS PAGE Montagu to sell The Isle of Man Steam Packet Company to Macquarie in £225m deal19/10/2005. Source: AltAssets. 
 Montagu Private Equity, the UK-based pan-European buy-out firm, has agreed to sell The Isle of Man Steam Packet Company to Macquarie Bank for £225m.
The Isle of Man Steam Packet is the sole provider of regular passenger, vehicle and freight services to the Isle of Man. The company celebrated its 175th anniversary this year.
Montagu Private Equity bought The Isle of Man Steam Packet from Sea Containers in July 2003.
Simon Pooler, director at Montagu, said, 'This has been another solid investment for Montagu; backing a top quality business and first rate management team. The Steam Packet management has significantly developed and improved the business over the last two years, establishing the ferry operator as a strong stand alone business and enhancing the service to islanders through dedicating its fleet to servicing the Isle of Man. This has delivered better quality vessels and greater capacity for passengers and vehicles at sailing times to meet peak demand from residents.'
Montagu focuses on investing in management buy-outs in partnership with the incumbent management team. The firm currently has more than €3bn under management. Montagu's offices are located in London, Manchester, Paris, Düsseldorf and Stockholm.
Members of the Macquarie Bank Group manage over €19bn in infrastructure equity around the world through a range of listed and unlisted funds.
Copyright © 2005 AltAssets
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