Montagu led the Management Buyout in July 2003 from Sea Containers.
The Steam Packet Company had a dominant position in the transportation of passengers and freight to the Isle of Man from ports in the UK underpinned by a long-standing user agreement with the Isle of Man government.
The Steam Packet represented a very high quality, secure and cash generative business growing in line with a robust Manx economy. These features made it ideal for a leveraged buyout and as such our success in buying this business was at the end of a fiercely fought private equity auction.
In October 2005 Montagu sold the Isle of Man Steam Packet Company to Macquarie Bank.
