Bass Strait shipping leader Strait Link is set to be acquired by Igneo Infrastructure Partners, ending its tenure under Allegro Funds.
The binding agreement, announced today, sees Igneo take 100% ownership of the critical logistics provider that operates a fleet of two modern vessels and 11 depots across Tasmania and Victoria. Formerly part of the Team Global Express portfolio, the business remains a vital economic artery for the state, employing approximately 1,100 people and managing over 4,500 containers. The sale is expected to complete in 2026, subject to regulatory approvals.
Media release – Team Global Express, 19 December 2025
Strait Link Announces Sale to Igneo Infrastructure Partners
Strait Link today confirmed owner Allegro Funds has signed a binding agreement to sell Strait Link’s end-to-end shipping and logistics business to Igneo Infrastructure Partners (“Igneo”).
Subject to obtaining regulatory approvals and satisfaction of customary conditions precedent, Igneo will acquire 100% of Strait Link, with completion expected in 2026. Strait Link is Australia’s leading Bass Strait shipping and logistics provider.
Allegro Founding Partner and Team Global Express Director, Adrian Loader, said, “When we first acquired Strait Link, our vision was to transform a critical part of Tasmania’s supply chain into an independent, resilient shipping business. Under the Team Global Express portfolio, Strait Link has proven its strength as a leading employer and a vital trade link for Tasmanians.
“This sale reflects confidence in Strait Link’s continued growth and market leadership. We’re proud to preserve its Tasmanian heritage and secure its future as a trusted driver of regional connectivity and trade.”
Geoff Gruebner, Strait Link Chief Executive Officer, said, “Following a robust and competitive sales process, today’s announcement is a positive outcome for Strait Link, delivering value for our shareholders while supporting the business’s continued long-term growth.
“Strait Link is a proven market leader across both the Bass Strait shipping and transport and logistics industries in Tasmania, and remains fundamental to Tasmania’s economic connectivity.”
Strait Link’s shipping assets include two modern vessels, the Tasmanian Achiever II and Victorian Reliance II, supported by secure long-term leases at both Port of Melbourne and Port of Burnie.
The Company’s landside fleet comprises prime movers, trailers, more than 4,500 containers, and 11 depots across Tasmania and Victoria, including Webb Dock, Burnie, Devonport, Hobart and Launceston.
Gruebner said, “Igneo is acquiring a strong business including a key infrastructure asset with demonstrated sustainable growth in the Australian shipping sector, and significant potential for further development.
“This transaction provides certainty for our people, customers, and stakeholders across Tasmania and Victoria, where we remain a major employer and essential service provider.
“As we work toward completion, our focus remains on delivering safe and reliable services to our customers.”
About Strait Link:
Employing approximately 1,100 people, Strait Link is Australia’s leading Bass Strait shipping and logistics provider, delivering integrated end-to-end solutions between Tasmania and mainland Australia. With purpose-built vessels, comprehensive landside operations, and deep local expertise, Strait Link connects Tasmania to national and international markets while supporting the state’s economic growth.
About Igneo:
Igneo is an autonomous investment team in the First Sentier Group. It invests in high-quality, mature, mid-market infrastructure companies in renewables, digital infrastructure, waste management, water utilities and transportation/ logistics sectors in the UK, Europe, North America, Australia and New Zealand.
Background – Who is Team Global Express?
Team Global Express (TGE) is one of Australia’s largest multimodal logistics providers, handling more than 100 million deliveries annually across road, rail, air and sea. The company was born from the 2021 acquisition of Toll Global Express by private equity firm Allegro Funds.
Under the leadership of Group Executive Chair Christine Holgate, TGE rebranded in 2022 and moved to separate its Tasmanian operations into the standalone Strait Link brand earlier in 2025. While TGE continues to operate an expansive national network, this divestment allows the group to focus on its core mainland intermodal business and international expansion.
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Allegro Funds bought the business from Toll in 2021.
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Allegro split the business into Team Global Express (mainland logistics) and Strait Link (Tasmanian shipping).
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Allegro is now selling Strait Link to Igneo Infrastructure Partners.
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Team Global Express will continue to work with Strait Link as a strategic logistics partner to ensure freight keeps moving to and from Tasmania.
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