Tripartite consortium inks deal for minority stake in Scandinavian ferry heavyweight

A tripartite consortium led by Sweden’s Gotlandsbolaget has agreed to a deal worth €510M (US$598M) for a 30% stake in Nordic Ferry Infrastructure (NFI). Private equity investor EQT Infrastructure V would retain a 70% share in NFI.

Subject to customary approvals, Gotlandsbolaget and its consortium partners, Danish pension fund Lægernes Pension and Swiss investment firm Interogo Infrastructure, will control their minority stake through the newly established company NP HoldCo. 

Under EQT’s ownership, Oslo-based NFI has grown through acquiring ferry companies Molslinjen and Torghatten in 2021-2022 and adding ForSea (now Øresundslinjen) in 2023. Today, the company is one of the largest passenger vessel operators in Scandinavia, operating 101 vessels on 59 routes across a network of over 1,400 km, transporting more than 25M passengers annually in Norway, Denmark, and Sweden.

Over the past few years, NFI has expanded into new routes and geographies while advancing fleet modernisation and decarbonisation efforts, including electrifying operations. These initiatives have contributed to an 11% reduction in total CO2 emissions between 2022 and 2024 and strengthened NFI’s position in lower-emissions ferry infrastructure in the Nordics, according to EQT.

The broadened investor base adds resources to support the next phase of NFI’s development, including future fleet decarbonisation and electrification investments, selective growth, and further operational development across the platform, EQT said in a statement.

The change in the ownership structure is expected to help NFI achieve long- and near-term decarbonisation targets. Aligned with SBTi science-based targets, the company’s central strategy is to reach net-zero emissions across the value chain by 2040, underpinned by vessel upgrades, retrofits, and investments in low and zero-emissions solutions.

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