Waterford's Passage East Ferry Company is to be sold as its founding shareholder retires from the business.

The company, which operates the car ferry between Passage East in Waterford and Ballyhack in Wexford, is jointly owned by founder David Donnelly and insurer FBD.

Its ferry can carry up to 28 vehicles and 130 passengers and averages 106 sailings a day between the two towns.

Accounting firm Crowe Horwath, which is managing the sale, said it expects both domestic and interational interest in the business.

Its ferry can carry up to 28 vehicles and 130 passengers and averages 106 sailings a day between the two towns.

Accounting firm Crowe Horwath, which is managing the sale, said it expects both domestic and interational interest in the business.

Passage East Ferry Company, according to Crowe Horwath, has turnover of around €1.6m and produced earnings before interest, tax, depreciation and amortisation of its assets of €587,000 last year.