InfraRed acquires Norwegian ferry and ambulance vessel operator GulenSkyss

InfraRed Capital Partners has acquired GulenSkyss, a Norwegian ferry and ambulance vessel owner and operator.

The infrastructure asset manager said it had purchased 100% of the business from its founder for an InfraRed-managed value-add fund.

GulenSkyss owns and operates express and car ferries, pilot boats, and ambulance vessels, under long-term concessions with public counterparties. The operator has a fleet of 15 vessels, including one under construction.

InfraRed said that the operator’s “longstanding presence, reputation for reliability, and experienced management team, means GulenSkyss is well-positioned for further expansion”.

In recent years, the business has been building out its fleet and moving into new regions and different parts of the ferry market. In December 2024, GulenSkyss won a “significant tender” for the operation of the car ferry connection between Breistein and Valestrand. The company also recently secured the Solfjellsjøen – Vandve car ferry route in Nordland County, in Northern Norway.

The company’s long-term development is supported by strong secular trends such as rising demand for healthcare services and increasing domestic travel, InfraRed said.

Sven Stubican, partner, InfraRed, said: “This is an exciting investment in an established business with significant potential for expansion, underpinned by the infrastructure characteristics that we look for.

“GulenSkyss’s carefully designed vessels meet local needs, providing invaluable services for residents and communities. We look forward to working with the exceptional management team, leveraging our experience with other portfolio companies, such as Vancouver Island Ferries in Canada.”

Frode Sønstabø, CEO, GulenSkyss, said: “We are incredibly proud to partner with InfraRed Capital Partners. This acquisition gives us a unique opportunity to strengthen our position within our market segments.

“With the support and expertise of InfraRed Capital Partners we are well equipped to unlock the full potential of GulenSkyss. We look forward to working closely with InfraRed Capital Partners to deliver even better results for our customers and employees. This is the beginning of an exciting journey for GulenSkyss.”

GulenSkyss founder Per Strand Vold added: “We are happy to have found a new partner for GulenSkyss with ambitions to further develop the company, and we are confident that InfraRed Capital Partners will be a strong fit for GulenSkyss in the future.”

This is the second investment made by InfraRed in the Nordics in the past 12 months, following an investment in Voltan Energy, a decentralised energy company based in Finland. In total the manager has $13bn (€11bn) of capital under managerment both in listed and private funds across core and value-add strategies.

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