Rubicon Advises on Sale of Equity Stakes in Two Irish Motorways; 3i and TIIC Invest in Fermoy & Limerick PPP Projects
Rubicon Advises on Sale of Equity Stakes in Two Irish Motorways; 3i and TIIC Invest in Fermoy & Limerick PPP Projects
DUBLIN, IRELAND, June 12, 2019 – Rubicon Capital Advisors (“Rubicon”) is pleased to announce the sale of a 75% equity interest in DirectRoute (Fermoy) Holdings Limited and a 50% equity interest in DirectRoute (Limerick) Holdings Limited to 3i European Operational Projects SCSp (“3i”) and TIIC 2 SCA SICAR (“TIIC 2”). Rubicon acted as financial advisor to the sellers, which for Fermoy are affiliated entities of STRABAG SE (“STRABAG”), SISK Group (“Sisk”), Lagan Specialist Contracting Group (“Lagan”), Roadbridge, KBR, Inc. (“KBR”) and Allied Irish Banks, p.l.c. (“AIB”) and for Limerick are affiliated entities of STRABAG, Sisk, Lagan and Roadbridge.
DirectRoute (Fermoy) is responsible for the design, build, finance, operation and maintenance of the 17.5 km toll motorway between Fermoy and Watergrasshill, on the M8 Cork-Dublin route. The project was opened to traffic in October 2006 and the concession contract, granted by Transport Infrastructure Ireland, will run until 2034.
DirectRoute (Limerick) is responsible for the design, build, finance, operation and maintenance of an immersed tube tunnel under the River Shannon on the M18 Limerick Southern Ring Road and ancillary roadway. The project was opened to traffic in August 2010 and the concession contract, granted by Transport Infrastructure Ireland, will run until 2041.
“We were delighted to work closely with STRABAG, Sisk, Lagan, Roadbridge, KBR and AIB on these transactions,” noted Rubicon Senior Director Arlynejane Divilly. “These transport assets provide a unique and strategic opportunity for 3i and TIIC to invest in the growing Irish infrastructure sector.”
This transaction continues Rubicon’s strong record in the transport sector around the world. In the last 18 months alone, the firm has acted as advisor to global strategic sponsors and major financial investors in the sale, acquisition or financing of over 20 different core transportation assets, across 5 different countries, with an enterprise value in excess of €10 billion.
About Rubicon Capital Advisors
Rubicon is one of the world’s leading investment banking firms focused solely on the infrastructure, energy & utilities sectors. With offices in Europe, the Americas and Asia, along with further expansion plans in 2019, the firm has a truly global reach. Since inception in 2011, Rubicon has closed on the sale, acquisition or refinancing of over 100 essential infrastructure, energy & utilities assets located across Europe, North America, Latin America and Asia with a combined enterprise value in excess of USD $50 billion. The firm is regulated by the Central Bank of Ireland and its U.S. affiliate is a member of FINRA and SIPC and registered as a broker-dealer with the SEC. Learn more about the firm at: www.rubiconcapitaladvisors.com and by following Rubicon Capital Advisors on LinkedIn.
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Tom Weirich
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E: tom.weirich@rubiconcapitalusa.com