The European Ferries Group was incorporated in 1935 as Monument Securities Ltd, becoming a Public limited company in 1949.
In 1957, Monument Securities bought a 51% stake in Townsend Car Ferries Ltd and in 1959 acquired the rest in a full takeover. The same year Monument Securities changed its name to George Nott Industries Ltd.[1]
In 1968, George Nott Industries purchased the Otto Thoresen Shipping Company and its subsidiary Thoresen Car Ferries Ltd. As a result of this acquisition it changed its name to European Ferries Ltd. In 1971 the Atlantic Steam Navigation Company Ltd (Trading as Transport Ferry Service) was acquired from the National Freight Corporation. All three of the companies under European Ferries Ltd used the name Townsend Thoresen to market their ferry services.
In 1973, European Ferries purchased Larne Harbour Ltd and a 50% stake in the former naval dockyard at Harwich. This was followed in 1976 with the acquisition of The Felixstowe Dock and Railway Company.[2]
In 1979, European Ferries Ltd entered the property industry in a joint venture for property development in Denver, it expanded this in Atlanta and in 1980 began buying further land in Houston. It had acquired around 5,000 acres (20 km2) of land.[1]
In May 1984, European Ferries Ltd transferred its assets to European Ferries Group Plc[1] and in January 1985 European Ferries made a further acquisition, when P&O decided to divest its ferry business and sold its operations between Dover and Boulogne and Southampton and Le Havre. These services were rebranded as Normandy Ferries Ltd.
On 6 March 1987, the Townsend-Thoresen branded car ferry Herald of Free Enterprise capsized just outside Zeebrugge's harbour about 25 minutes after departure. A subsequent inquiry determined that the ship's bow doors had been left open allowing water to get onto the car deck. 193 people died as a result of the sinking.
Following the sinking, later in 1987, European Ferries Group Plc was acquired by the Peninsular and Oriental Steam Navigation Company and renamed P&O European Ferries.[3] The Townsend Thoresen branded ships were rebranded with P&O Ferries due to the bad publicity that the disaster had caused for the brand. (Wikipedia)