Who makes the decisions on how Wightlink is managed?
A review of Wightlink’s publicly available accounts for the 52-week period ended 26 March 2022 reveals that Wightlink is jointly owned by Basalt Infrastructure Partners in the UK and Fiera Infrastructure in Canada, following the sale of a 50% stake to them by Basalt for an undisclosed sum in 2019.
The ferry operator, Wightlink, is one of a Group of 5 subsidiary companies in a holding company structure, headed up by the ultimate parent company, Arca Topco.
The companies in the Group are: Wightlink, Arca Shipping, Arca Bidco, Arca Midco, Arca Holdco, and Arca Topco.
The subsidiaries are all set up as separate legal entities giving the ultimate parent company, Arca Topco, protection from any operational or financial liabilities arising in any of the subsidiary companies.
Fiera and Basalt’s representatives are Directors of every subsidiary in the Group, giving them the power to affect decisions at every level of the business. They are:
- Daniel Anderson – Director at Fiera Infrastructure
- Jason Cogley – Managing Director at Fiera Infrastructure
- Steven Lowry – Partner, Chief Investment Officer at Basalt
- Neil O’Hara – Partner, Head of Asset Management at Basalt
- Marcus Berg – Principal at Basalt
These are the people controlling so much of our lives. The WUG extends an open invitation to all of them to discuss how we can work together for the benefit of all Islanders.