1st July 2016
Rubicon Infrastructure Advisors (“Rubicon”) is pleased to announce that financial close has been reached on the acquisition by John Laing Infrastructure Fund (“JLIF”) of a 100% interest in Project Service LLC, which holds the concession to operate and maintain 23 service plazas in the State of Connecticut. JLIF purchased the interest from a consortium of shareholders spearheaded by The Carlyle Group.
JLIF was exclusively advised by Rubicon through a global team from both its Dublin and New York offices. Rubicon provided a full suite of investment banking advisory services, including comprehensive asset valuation and thorough due diligence. Rubicon also advised JLIF on the procurement of senior debt from a syndicate of international lenders to replace Project Service’s existing lending facilities.
Commenting on the transaction, Aeneas Griffin, Managing Director of Rubicon said:
“As an independent advisory firm, Rubicon is keenly focused on providing our clients with customised advice and unwavering commitment. We are delighted to have assisted JLIF in the acquisition of its inaugural U.S. asset, utilizing our substantial experience and demonstrating the full strength and depth of our global team in both M&A and debt procurement advisory services”.
This transaction marks Rubicon’s fifth successful M&A deal in 2016 and its twelfth transaction in the past 12 months, representing 26 individual assets with a combined enterprise value in excess of $7.5 billion. This proven track record led to Rubicon being recognized as one of the top 10 global financial advisory firms in 2015.
Below, please find a link to JLIF’s official announcement which was distributed to the London Stock Exchange:
About Rubicon Infrastructure Advisors
With representation in Dublin, New York, Madrid and Sydney, Rubicon is a specialist investment banking firm focused solely on the global infrastructure market. The firm’s team comprises industry experts with extensive experience and who have advised or structured over €200 billion worth of infrastructure transactions across multiple sectors and jurisdictions.