Njord Partners, a UK-based investment firm, has made its acquisition of an Isle of Wight ferry passenger and freight operator, Red Funnel, which is to use a Belfast-built electric fast craft, writes Jehan Ashmore.
The development marks an exciting new chapter for Red Funnel, the iconic ferry operator that has served the Isle of Wight for over 164 years.
Over the past five years, Red Funnel has faced challenges. According to the ferry firm, which includes the 2019 Mersey (Cammell Laird)-built freight-only ro-ro ferry, Red Kestrel, its significant indebtedness has severely limited the company's ability to invest.
However, last month’s acquisition milestone transaction creates a strong foundation for enhancing services between Southampton-West/East Cowes and delivering services for Red Funnel passengers. Among them, Afloat also adds, will be the Belfast-built zero-emission electric e-foiling Artemis EF-24 passenger-only craft, which is under construction by Artemis Technologies for the Southampton-West Cowes route.
Red Funnel is the original Isle of Wight ferry company, with its roots tracing back to 1820. It carries 2.3m passengers and over 800,000 vehicles on its main Southampton-East Cowes run by a trio of Raptor-class ferries. In addition to 1.1m passengers on the Southampton-West Cowes using a pair of Red Jet hi-speed passenger-only craft. It competes with Wightlink, whose services are based out of neighbouring Portsmouth and Lymington.
Njord Partners brings a strong track record of investing in and supporting growth at UK businesses. It has particular expertise in the hospitality and maritime sectors, with portfolio companies including the Irish ports of call visiting Ambassador Cruise Line, Geoquip Marine, and the Valiant Pub Company.

















































