Stout Advises AEG on Sale of Uber Boat by Thames Clippers

May 03, 2022

Stout is pleased to announce the sale of Uber Boat by Thames Clippers, London’s leading river boat service, by AEG, the world’s leading sport and live entertainment company, to Northleaf Capital Partners (“Northleaf”). Stout acted as exclusive financial advisor to AEG in connection with the transaction.

Uber Boat by Thames Clippers, London’s fourth mode of transportation, is integrated into the Transport for London (“TfL”) network with a shared ticketing system and a diverse ridership base. It operates a fleet of 21 purpose-built vessels, supported by pier network and dry-dock facilities, and it has a 20-year track record of organic growth through route and fleet expansion.

Northleaf’s acquisition brings new investment to support Uber Boat by Thames Clippers’ ambitious plans to deliver sustainable growth, enhanced infrastructure, and greater economic development on and around the River Thames.

“Adding Uber Boat by Thames Clippers to our infrastructure portfolio provides our investors with additional stable cashflows and sub-sector diversification through a unique transportation business with a long and proven operational track record,” said Roderick Gadsby, Managing Director at Northleaf. “We look forward to partnering with Uber Boat by Thames Clippers to advance on robust and environmentally sustainable growth plans through fleet renewal and route expansion, furthering its leading market position within London’s public transit system.”

Alex Hill, President and CEO at AEG Europe, added, “AEG acquired a majority stake in Uber Boat by Thames Clippers in 2006 and has since supported the growth of the business, during which time the fleet has grown to over 20 vessels and added many new piers and routes. It has been an important part of the AEG family, but when approached by Northleaf, we knew they would be the ideal partner for the next stage in Uber Boat by Thames Clippers’ growth strategy.”

Sean Collins, Co-Founder and CEO of Uber Boat by Thames Clippers, said, “For over 20 years, Uber Boat by Thames Clippers has been at the forefront of innovation in river transport; our new partnership with Northleaf ensures this continues for the long term. I am looking forward to working with Northleaf to achieve our vision for the future.”

“We are delighted to have advised AEG on this important transaction and wish Thames Clippers every success under Northleaf’s ownership. We are pleased to add another successful transaction to Stout’s track record in the maritime infrastructure sector,” said Jon Howells, Head of Stout UK and Nordics.

The Stout team advising AEG involved Jon Howells, William Gamon, and Avi Bauernfreund.

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Stout Park Limited is an appointed representative of Sturgeon Ventures LLP, which is authorised and regulated by the Financial Conduct Authority.