InfraRed Capital Partners Acquires Norwegian Ferry and Ambulance Operator GulenSkyss

InfraRed Capital Partners Acquires GulenSkyss

In a strategic move to enhance its infrastructure investment portfolio, InfraRed Capital Partners has successfully completed the acquisition of GulenSkyss, a well-established Norwegian operator specializing in ferry and ambulance services. This acquisition, representing a full purchase of the company from its founder, highlights InfraRed's commitment to supporting significant growth opportunities in vital sectors.

GulenSkyss is known for its extensive range of services, which include operating express ferries, car ferries, pilot boats, and ambulances under long-term contracts with public operators. With a fleet comprising 15 vessels, including one currently under construction, GulenSkyss provides critical emergency services and reliable transport links along Norway’s challenging coastline. The company plays an essential role in connecting various islands, fjords, and mainland communities in a nation where road and rail transport can often be impractical due to geographic constraints.

The acquisition is particularly promising considering Norway's 100,000 km coastline, where ferries serve as a primary mode of transport. In 2023 alone, ferries facilitated the transit of nearly 50 million passengers, underscoring their importance in the national transport infrastructure.

Sven Stubican, a partner at InfraRed, expressed enthusiasm regarding the investment, stating that it is an exciting opportunity to engage with an established business that shows significant potential for future expansion. He added that GulenSkyss’s well-designed vessels meet local needs and provide invaluable services to the communities they serve. Stubican indicated that the firm looks forward to collaborating closely with GulenSkyss's exceptional leadership team, leveraging experience gained from managing similar assets, such as Vancouver Island Ferries in Canada.

Frode Sønstabø, the CEO of GulenSkyss, emphasized the pride his team feels in partnering with InfraRed Capital Partners. He described the acquisition as a unique opportunity to strengthen their market position. With InfraRed's support and expertise, Sønstabø believes GulenSkyss is well-equipped to maximize its growth potential, ensuring better outcomes for both customers and employees.

The founder of GulenSkyss, Per Strand Vold, expressed satisfaction in finding a partner that shares the vision for continued development and success for the company, expressing confidence that InfraRed will collaborate effectively moving forward.

This acquisition marks InfraRed's second investment in the Nordic region within the past year, following its investment in Voltan Energy, a decentralized energy company based in Finland. The transaction was facilitated with financial advisory support from Pareto Securities for InfraRed and Nordea Corporate Finance for GulenSkyss, complemented by legal guidance from Thommessen and AO Shearman for InfraRed and Simonsen Vogt Wiig for GulenSkyss.

With its strong commitment to enhancing vital infrastructure, InfraRed Capital Partners continues to forge ahead in the investment landscape, ensuring it plays a pivotal role in supporting essential services across various sectors.