Fiera Infrastructure and EllisDon Capital have joined forces to create a Canadian public-private partnerships (PPP) venture.
The newly formed partnership will acquire EllisDon’s interest in its existing portfolio of PPP projects and have the right of first offer over EllisDon’s future PPP projects for a pre-agreed period.
“Partnering with EllisDon, one of North America’s most successful and experienced construction capital groups, enables Fiera Infrastructure to further access the highly competitive Public-Private Partnership market with a strategic long-term partner,” said Alina Osorio, president of Fiera Infrastructure.
EllisDon’s existing portfolio contains interests in 10 PPP projects that represent a uniquely diverse asset base of Canadian PPP projects geographically dispersed across four provinces and three subsectors – social, healthcare and transportation.
The partnership was formed in October 2018 and the acquisition of the first three projects is expected to close in first quarter of 2019.
In addition to the ten-project portfolio, EllisDon was awarded two additional projects in 2018, each with a 100% equity interest, which will be subject to the Partnership right of first offer following completion of construction and stabilisation of operations.
EllisDon has completed over $4 billion worth of contracts annually, and has completed, led and been awarded more than 30 PPP contracts, and brings a robust pipeline of PPP projects for the new partnership.
Joey Comeau, the senior vice president at EllisDon Capital, said: “This partnership demonstrates EllisDon’s ongoing commitment to proactive asset management on our PPP investments while at the same time meeting the company’s strategic business objectives.”