HICL invests in two local improvement companies
Infrastructure investment firm HICL has acquired a 50 per cent equity and 75 per cent loan note interest in Prime LIFT Investments (PLI), a 60 per cent private-sector partner in two LIFT (Local Improvement Finance Trusts) companies, the Birmingham & Solihull LIFTCo and the Staffordshire LIFTCo.
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Infrastructure investment firm HICL has acquired a 50 per cent equity and 75 per cent loan note interest in Prime LIFT Investments (PLI), a 60 per cent private-sector partner in two LIFT (Local Improvement Finance Trusts) companies, the Birmingham & Solihull LIFTCo and the Staffordshire LIFTCo.
These two companies have developed 25 new health and social care facilities with a total development cost of approximately £170m over the last eight years.
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The group has also acquired a further 9% equity and loan note interest in the Connect Project, which is focused on upgrading and operating London Underground's radio and telecommunications systems, giving it a 28.5% interest overall.
The total consideration for the two acquisitions was £33.75m, which was funded from the group's existing cash and debt resources. The acquisitions bring the total number of infrastructure investments within the group's portfolio to 75.
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