GLOBAL infrastructure investor Igneo Infrastructure Partners (Igneo IP) has completed its acquisition of Bass Strait- and Tasmania-focused Strait Link, first announced on 18 December 2025.
Vendors Allegro Funds accepted the Igneo bid over that of rival Morgan Stanley Infrastructure Partners, after Strait Link was put up for sale in August with reported price expectations of up to $500 million. The eventual price paid has not been disclosed.
Strait Link owns and operates the Melbourne-Burnie ro-ros Tasmanian Achiever II and Victorian Reliance II and 164 prime movers, 570 trailers, 4,500 containers and 11 depots across Tasmania and Victoria, plus long-term terminal leases at 1 East Webb Dock, Melbourne and No.4 berth, Burnie, according to information provided to bidders.
Strait Link is the former Toll Shipping bought as part of the acquisition of (now) Team Global Express in September 2021 and was originally Brambles Shipping, which debuted on the Melbourne-Burnie route in 1984 with the small ro-ro Challenger B.
It was separated as an entity by Allegro and earlier last year Team Global Express sold its Tasmanian logistics interests into Strait Link in a move widely seen as ‘fattening’ the latter for sale.
Strait Link CEO Geoff Gruebner said the new ownership provided strong backing for a business that is central to Tasmania’s supply chain.
“Strait Link keeps Tasmanian businesses connected to mainland and global markets and supports the industries that rely on that link,” Mr Gruebner said.
“Our vessels, terminals and logistics teams work together to deliver an integrated service that helps Tasmanian enterprise operate with confidence.
“Igneo has an international track record of investing in critical community infrastructure, aligning closely with the role Strait Link plays in Tasmania’s freight network and its future opportunities.”
Igneo IP is part of the First Sentier Group which holds $215 billion of global assets under management, and has its origins in 1988 when founded by the then State Bank of NSW before being sold in 2019 by the Commonwealth Bank of Australia to Japan’s Mitsubishi.
According to its website Igneo IP has invested in in high-quality, mature, mid-market infrastructure companies in renewables, digital infrastructure, waste management, water utilities, transportation and logistics sectors in Europe, the UK, Australia, New Zealand and North America. Amongst several transport-related entities, Igneo owns Swedish ferry company Scandilines.
Danny Latham, partner and head of Igneo Infrastructure Partners Australia & New Zealand, said Strait Link represents an infrastructure business that is fundamental to Tasmania’s economy.
“Our investment in Strait Link reflects a commitment to supporting resilient, high-quality infrastructure assets,” Mr Latham said.
“Strait Link is essential to Tasmania’s supply chains and economy. We look forward to partnering with the team to strengthen the services that industries, communities and customers rely on every day.”
Mr Gruebner added that Strait Link remains focused on the continued growth of the business and its good corporate citizenship in Tasmania.
“With the competency and commitment of our people and operations, we are well positioned to continue delivering for the businesses and communities that we are privileged to serve.”