THE firm behind restaurant chain Yo Sushi is planning a takeover of Wightlink, it has been reported.

Sky News has reported today (Tuesday) that Mayfair Equity Partners is one of a small number of bidders in talks with Wightlink's owners about a deal.

Arcus Infrastructure Partners, another investor, is also thought to have been considering a bid.

As reported, Wightlink could be sold for £300 million — significantly more than the £230 million current owner Basalt Infrastructure Partners paid in 2015, when it bought the Isle of Wight ferry firm from Australian bank Macquarie.

Mayfair has invested in businesses including Ovo, the challenger energy group, and Promise, a gluten-free bread producer.

According to Sky News, the Wightlink sale could be agreed in the coming weeks, although it is more likely the deal will be closed early next year.