Isle of Wight ferry company Wightlink has been sold to Balfour Beatty Infrastructure Partners LLP, for an undisclosed sum.
Wightlink said there would be no changes to staffing, pricing, routes or schedules but the Rail, Maritime and Transport union (RMT) said it would seek assurances there would be no redundancies.
The company employs around 500 staff, rising to 600 during the summer months.
In a statement, Red Funnel Isle of Wight Ferries, the Island’s original ferry operator which has been running for 153 years, said it was fully committed to growing its Isle of Wight ferry services between Southampton, and East and West Cowes.
Kevin George, CEO of Red Funnel Isle of Wight Ferries, said the sale “has no bearing on Red Funnel’s strategy of delivering value for money services and an unrivalled cross-Solent travel experience”.
“The company carried record numbers in 2014 as more customers than ever chose Red Funnel over its rivals,” he asserted.
“This trend is set to continue with more sailings confirmed for 2015 to accommodate growth in both freight and private vehicle traffic.”