Yesterday morning, Forth Ports Limited (Forth Ports), one of the UK’s largest port groups, announced that Arcus European Infrastructure Fund 1 LP (Arcus) has agreed to sell its shares in the company to the Public Sector Pension Investment Board (PSP Investments). After financial completion, PSP Investments will partner with other long-term investors who are well aligned to support the future growth of Forth Ports.
“This is a landmark transaction for PSP to increase our stake in a strategically located, top-tier infrastructure asset in the UK,” said Patrick Samson, Managing Director and Head of Infrastructure Investments, PSP Investments.
“Since PSP’s original investment seven years ago, Forth Ports’ world-class management team has led the company through consistent high performance and growth. We are now entering the next phase of our journey together, which includes a specific plan to enhance our asset management responsibilities. This plan is being headed by our London-based team under the leadership of Patrick Charbonneau, Managing Director, Infrastructure Investments (Europe).”
“This is an exciting time for Forth Ports as we continue to deliver our ambitious expansion and investment programme around the UK,” said Charles Hammond, Group Chief Executive of Forth Ports.
“Our colleagues at PSP are already long-term, committed shareholders and this new investment ensures continuity for the business as we evolve to meet the customer demands of the future. I want to personally thank Stuart Gray, Simon Gray and all the team at Arcus for their constant support, insight and strategic guidance over the past seven years. Forth Ports is in a strong position with a clear vision for the future.”
“The Arcus team have been a long-term shareholder in Forth Ports and we leave the business in an excellent position, with a strong platform for continued growth,” said Stuart Gray, Arcus Partner. “We have enjoyed working in partnership with the management team, growing the business substantially during our period of ownership, and we will continue to monitor how the business evolves over the years with the new shareholding structure in place. We wish the management team every success for the future.”
Read the article online at: https://www.drybulkmagazine.com/ports-terminals/04102018/psp-investments-to-increase-shareholding-in-forth-ports/