News

HICL Acquisition of South Ayrshire Schools Project

4 April 2019 Investments
InfraRed Capital Partners Limited (InfraRed) is pleased to announce the acquisition by HICL Infrastructure Company Limited (HICL) of a 100% interest in the South Ayrshire Schools PPP Project (the Project) from subsidiaries of Carillion plc, Lloyds Banking Group plc and Cyril Sweett Group plc. The total consideration paid by the Group for the interest was £15.75m.

The consideration paid for these investments is in line with the current valuation of similar U.K. PFI projects in the Group’s portfolio, and was funded from the Group’s existing resources. The acquisition takes the number of infrastructure investments in the Group’s portfolio to 42.

James O’Halloran, Investment Director of InfraRed Capital Partners Limited, HICL’s Investment Adviser, said: “We are pleased to have secured this new investment for the HICL Group, which compliments the Group’s existing portfolio of Schools projects and we look forward to working with the Local Authority and the other stakeholders to make sure this investment is well-managed and successful”.

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