[1][2] On 13 August 1859, the company's first purpose-built vessel, the paddle steamer Enterprise, was launched, although it subsequently sank in the lake.

In the 1930s, the company converted its fleet of two steam powered pleasure cruisers, the Lady of the Lake and the Raven, to operate on diesel engines.

By Easter 2016, services had recommenced and a replacement bridge built; the Lady Wakefield was relaunched in May and docked for repairs.

Both companies form part of the Lake District Estates group, which also owns various tourist oriented properties in the area, and is controlled by Lord Wakefield's descendants.

The vessels of the fleet are maintained on a slipway located at the Waterside Campsite, one of Lake District Estates properties near Pooley Bridge.