The Isle of Man Steam Packet is the main provider of passenger, vehicle and freight services to the Isle of Man and is the oldest continuously operating passenger shipping company in the world. Its services include passenger and freight services between Douglas and Heysham Port with a number of fast ferry sailings between Douglas, Liverpool, Belfast and Dublin. The acquisition also includes the only city centre to city centre service to Ireland with a fast ferry service between Liverpool and Dublin.

Juan Kelly, Chairman commented: "The Steam Packet is much encouraged by the assurance of Montagu's active support for the Company in our aim to provide a first class ferry service to and from the Isle of Man, and to take full advantage of the growth opportunities which exist."
Hamish Ross, Managing Director commented: "We are delighted that Montagu have chosen to acquire the Steam Packet under its existing management team. Our long term strategy continues to focus on providing a high quality of service to Isle of Man residents, the Isle of Man Government and the port authorities with whom we do business daily, involving the deployment of fast craft and freight/passenger (ropax) ships." 

Simon Pooler from Montagu Private Equity said: '"This is exactly the kind of high quality business that we like to invest in with stable revenues and predictable earnings streams. Steam Packet has an exceptional management team and good growth prospects as the economy of the Isle of Man develops."

Montagu was advised by Ernst & Young and DLA. Debt funding for the deal was from Bank of Scotland Corporate Banking in Manchester

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