New Chapter for Isle of Wight's Historic Ferry Operator
Njord Partners, a leading investment manager with a strong track record in revitalising UK businesses, is pleased to announce the acquisition of Red Funnel. This marks an exciting new chapter for Red Funnel, the iconic ferry operator serving the Isle of Wight for over 164 years.
Over the past five years, Red Funnel has faced challenges. Significant indebtedness has severely limited Red Funnel's ability to invest, but today's milestone transaction creates a strong foundation for enhancing the service and delivering an outstanding experience for Red Funnel passengers.
Njord Partners brings a strong track record investing in, and supporting, growth at UK businesses, helping companies excel by strengthening their operations, improving products and services, and delivering for customers and communities. It has been nominated for, and won, numerous awards for successful business turnarounds and has particular expertise in the hospitality and maritime sectors, with portfolio companies including Valiant Pub Company, Ambassador Cruise Line, and Geoquip Marine.
Fran Collins, CEO at Red Funnel, said: "Our priority is to ensure Red Funnel operates sustainably and responsibly for decades to come, delivering high-quality, reliable, and friendly services across the Solent.
"We are delighted to partner with Njord Partners as Red Funnel enters this new chapter. Their milestone commitment gives us the confidence and platform to support our ambitious future plans.
"As a lifeline service provider, it is essential that our partners deeply understand our business and share our values. Njord Partners has a strong track record of building enduring relationships with owners, management teams, customers, and stakeholders-particularly in transport and maritime-supporting growth and long-term success."
Jakob Kjellberg, Founding Partner at Njord Partners, commented: "Red Funnel is a vital part of the Isle of Wight's economy and community-a true backbone of the Solent and South UK region. This is a great company with a proud history and a dedicated management team at its core.
"We are excited to support Red Funnel's next chapter, restoring its financial health and empowering its people to deliver the reliable, efficient service that islanders and visitors deserve."
About Njord Partners:
Njord Partners is a UK-based investment firm that helps businesses grow and succeed, especially during times of change. The company specialises in providing long-term, flexible capital to family-owned businesses. Founded in 2013, Njord Partners manages over €1 billion of assets and has supported close to 30 mid-sized companies across Europe, of which seven are in the UK. With a strong track record of long-term partnerships, Njord Partners is committed to helping businesses thrive for the benefit of all stakeholders.
About Red Funnel:
Red Funnel is the original Isle of Wight ferry company with roots tracing back to 1820. Based in the UK port of Southampton, Red Funnel carries 2.3m passengers and over 800,000 vehicles on its ferry route between the UK port of Southampton and East Cowes and 1.1m passengers between Southampton and West Cowes on its Red Jet Hi-Speed service.
In addition to ferry travel, Red Funnel is the only cross-Solent operator to offer ferry inclusive bonded holiday accommodation, attraction tickets, festival and event tickets and activity packages. Sub-brands include 'Red Jet' (the Hi-Speed passenger only ferry service serving West Cowes) and its on board café, 'ReFuel'.
The Company is a founding member of Visit Isle of Wight Ltd, the Island's not for profit destination management organisation. Red Funnel is also proud to sponsor and support most of the Island's premier events including the IW Festival, Cowes Week, Wight Proms, and Walk the Wight alongside a wide range of other community and niche interest events.
Red Funnel's Charity of the Year, 2025, is Hampshire and Isle of Wight Air Ambulance
For more information, visit www.redfunnel.co.uk.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250929475341/en/
Contacts:
For further information, please contact:
Red Funnel
Holly Barber/ Hannah Keddie redfunnel@grayling.com
Njord Partners via APCO
Jennifer Renwick Letaba Rimell Njord@apcoworldwide.com
