Red Funnel makes historic Hythe Ferry acquisition

Published by

Tom Kilkelly

Credit: Red Funnel

Cross-Solent ferry operator Red Funnel has acquired the entire issued share capital of Blue Funnel Ferries Limited (Blue Funnel Ferries) from Blue Funnel Limited.

The deal was conducted and overseen by BDB Pitmans. Figures for the deal are as of yet undisclosed.

Red Funnel has operated between Southampton and Cowes on the Isle of Wight for over 162 years, providing lifeline services for foot, vehicles, and freight.

Blue Funnel Ferries has operated the Hythe Ferry, which links Southampton to the Hampshire town of Hythe, since 2017. A ferry has been operated on the route since the Middle Ages and it is now relied on by commuters as well as being a tourist attraction.

Members of the Red Funnel executive leadership, including CEO Fran Collins and CFO Graham Barnetson will take over direction of Blue Funnel Ferries, which will be renamed the Hythe and Southampton Ferry Company Limited.

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The Southampton team at BDB Pitmans has assisted Red Funnel on several strategic corporate and property transactions and has extensive experience in the marine industry within the local market.

For this transaction, the team was led by Corporate Partner Oliver Kelly, with assistance from Leah Houghton, Marc Shevlin, Fin McKenzie, John Newton and David Crease.

BDB Pitmans Partner, Oliver Kelly, said: “This acquisition will preserve a well-loved part of our nation’s heritage and a vital service for people of the Solent region. We look forward to continuing to work with our long-standing client, Red Funnel, as they provide vital ferry services for commuters and tourists alike.”

Tom Kilkelly

Tom Kilkelly started working as a freelance journalist for The Business Magazine following his graduation from UCL in 2022. During his studies Tom became very interested in the works of Irish authors including Samuel Beckett and Flann O'Brien (Brian O'Nolan). His current role as a freelance business reporter is his first exposure to the world of business journalism. Working at TBM has given Tom the chance to really get to grips with the goings-on in the business hive that is the South East.