Macquarie Bank, the Australian financial group building a portfolio of infrastructure investments in Europe, has acquired the Isle of Man Steam Packet Company, a ferry operator, from Montagu Private Equity for £225m (€332m). Montagu paid £142m in 2003.

The acquisition includes Steam Packet's vessels, buildings, land holdings and other assets. The 175-year-old firm is the only provider of roll-on/roll-off freight transportation, vehicle and passenger ferry services to the UK's Isle of Man.