Northleaf Capital Partners acquires majority interest in Uber Boat by Thames Clippers

Supports sustainable innovation for London’s only commuter and leisure river boat service

TORONTO, CANADA and LONDON, UK (April 25, 2022) - Global private markets investment firm Northleaf Capital Partners (“Northleaf”) has acquired a majority interest in Uber Boat by Thames Clippers, London’s leading river boat service, from AEG, the world’s leading sport and live entertainment company.

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 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 & CEO at AEG Europe added, “AEG acquired a majority interest 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.”

The news follows the recent announcement that Uber Boat by Thames Clippers is building the UK’s first hybrid high speed passenger ferries, set to launch in autumn 2022. Leading the way in passenger boat design, the new vessels make strides in improving the sustainability features of the business, as well as propelling innovation in the wider marine sector.

The hybrid design will allow the new vessels to operate solely on battery power while transporting commuters and sightseers along its route on the River Thames. The vessels will recharge outside of central London using biofuelled power.

Sean Collins, Co-Founder and CEO Uber Boat by Thames Clippers added, “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.”

About Northleaf Capital Partners

Northleaf Capital Partners is a global private markets investment firm with more than US$19 billion in private equity, private credit and infrastructure commitments under management on behalf of public, corporate and multi-employer pension plans, endowments, foundations, financial institutions and family offices. Northleaf’s team of more than 175 professionals, located in Toronto, Chicago, London, Los Angeles, Melbourne, Menlo Park, Montreal and New York, is focused exclusively on sourcing, evaluating and managing private markets investments globally. Its portfolio includes over 500 active investments in more than 40 countries, with a focus on mid-market companies and assets. For more information on Northleaf, please visit www.northleafcapital.com.

Northleaf’s infrastructure program targets direct, long-term investments in mid-market assets that deliver essential services in select OECD countries. The program’s flexibility allows Northleaf to execute on transactions that are well-diversified by geography, revenue type and sub-sector in core regions of the OECD infrastructure market.

About AEG Europe

Headquartered in London, AEG Europe is a subsidiary of AEG, the world’s leading sports and live entertainment company.  In Europe, AEG owns and operates landmark sports and music facilities and entertainment districts across the continent including The O2, indigo at The O2 and Eventim Apollo in London; Barclays Arena in Hamburg; Mercedes-Benz Arena, Verti Music Hall and Mercedes Platz in Berlin; and Accor Arena in Paris. AEG’s promoting division, AEG Presents, is a global leader in concert promotion and venue management, running European music festivals including American Express presents BST Hyde Park and All Points East in London, and Rock en Seine in Paris. Through its Global Partnerships division, AEG Europe delivers to corporate brands the largest sports and live music marketing network in the world.

About Uber Boat by Thames Clippers 

Uber Boat by Thames Clippers is London’s River Bus service. Services run at 10–20-minute intervals between key London piers including North Greenwich for The O2, Greenwich, Canary Wharf, Tower, London Bridge City, Westminster, and London Eye (Waterloo), as well as several residential piers, including Battersea Power Station Pier.

Passengers are able to use contactless payment, Oyster to pay as you go and pre-book via the Uber app as well as the existing Thames Clippers Tickets app to travel with Uber Boat by Thames Clippers, making river travel even easier.

Uber Boat by Thames Clippers operates a modern and fuel-efficient fleet of high-speed catamarans. The business continues to break new ground in exploring sustainability options and is investing in trials and the development of technology, including seeking and winning Department for Transport funding to drive for a greener marine future, particularly focused on the development of hybrid and hydrogen-powered vessels.

A ticketing partnership with Uber launched in 2020 and encourages more people to enjoy travel by boat around the city, helping to link travel by river and road, all through the Uber app.

For more information visit the website www.uberboatbythamesclippers.com or follow @ThamesClippers on Twitter, Instagram, or Facebook.

Contact:

Northleaf Capital Partners
Nadine Cannata
+1.416.477.6623
nadine.cannata@northleafcapital.com 

AEG Europe
Stephanie Moses
+44 7912 930139
stephanie.moses@theo2.co.uk