Allegro agrees sale of Team Global Express’s Strait Link with Igneo
News
5.1.2026
Allegro Funds has signed a binding agreement to sell Team Global Express's Strait Link 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, the sale 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.
Allegro acquired Strait Link through its corporate carveout of Team Global Express in August 2021. This acquisition returned the company to Australian ownership. Under Allegro’s stewardship, and in line with the Firm's investment plan for Team Global Express, the business was separated from Team Global Express and successfully rebranded to Strait Link, operating as an independent and stand-alone Trans-Tasman shipping provider.
The sale of Strait Link represents another realisation event for Allegro Fund III following the successful exit of Questas in April 2025 as well as the sale of Ngahuia and the IPO of Best & Less in 2021.
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