Global private markets investment firm Northleaf Capital Partners (“Northleaf”) has acquired a majority interest in Uber Boat by Thames Clippers, London’s leading river boat service, from AEG, the world’s leading sport and live entertainment company.
Uber Boat by Thames Clippers, London’s fourth mode of transportation, is integrated into the Transport for London (“TfL”) network with a shared ticketing system and a diverse ridership base. It operates a fleet of 21 purpose-built vessels, supported by pier network and dry-dock facilities and has a 20-year track record of organic growth through route and fleet expansion.
Northleaf’s acquisition brings new investment to support Uber Boat by Thames Clippers’ ambitious plans to deliver sustainable growth, enhanced infrastructure and greater economic development on and around the River Thames.
“Adding Uber Boat by Thames Clippers to our infrastructure portfolio provides our investors with additional stable cashflows and sub-sector diversification through a unique transportation business with a long and proven operational track record,” said Roderick Gadsby, Managing Director at Northleaf.
“We look forward to partnering with Uber Boat by Thames Clippers to advance on robust and environmentally sustainable growth plans through fleet renewal and route expansion, furthering its leading market position within London’s public transit system.”
Alex Hill, President & CEO at AEG Europe added, “AEG acquired a majority interest in Uber Boat by Thames Clippers in 2006 and has since supported the growth of the business, during which time the fleet has grown to over 20 vessels and added many new piers and routes. It has been an important part of the AEG family but when approached by Northleaf, we knew they would be the ideal partner for the next stage in Uber Boat by Thames Clippers’ growth strategy.”
The news follows the recent announcement that Uber Boat by Thames Clippers is building the UK’s first hybrid high speed passenger ferries, set to launch in autumn 2022. Leading the way in passenger boat design, the new vessels make strides in improving the sustainability features of the business, as well as propelling innovation in the wider marine sector.
The hybrid design will allow the new vessels to operate solely on battery power while transporting commuters and sightseers along its route on the River Thames. The vessels will recharge outside of central London using biofuelled power.
Sean Collins, Co-Founder and CEO Uber Boat by Thames Clippers added, “For over 20 years Uber Boat by Thames Clippers has been at the forefront of innovation in river transport; our new partnership with Northleaf ensures this continues for the long-term. I am looking forward to working with Northleaf to achieve our vision for the future.”
About Northleaf Capital Partners
Northleaf Capital Partners is a global private markets investment firm with more than US$19 billion in private equity, private credit and infrastructure commitments under management on behalf of public, corporate and multi-employer pension plans, endowments, foundations, financial institutions and family offices. Northleaf’s team of more than 175 professionals, located in Toronto, Chicago, London, Los Angeles, Melbourne, Menlo Park, Montreal and New York, is focused exclusively on sourcing, evaluating and managing private markets investments globally. Its portfolio includes over 500 active investments in more than 40 countries, with a focus on mid-market companies and assets. For more information on Northleaf, please visit www.northleafcapital.com.
Northleaf’s infrastructure program targets direct, long-term investments in mid-market assets that deliver essential services in select OECD countries. The program’s flexibility allows Northleaf to execute on transactions that are well-diversified by geography, revenue type and sub-sector in core regions of the OECD infrastructure market.