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News Corporate Deals 11th Jan 2022

Freeths advises International Public Partnerships on acquisition of UK PPP Portfolio

Leading national law firm Freeths has advised long standing client International Public Partnerships (the ‘Company’), the FTSE 250 listed infrastructure investment company on the acquisition of a small portfolio of UK PPP investments comprising interests in Townlands Community Hospital in Henley (‘Townlands’), Eltham Community Hospital (‘Eltham’) and minority interests in the Building Schools for the Future (‘BSF’) projects STaG 1 and 2 (‘STaG’).

Details of the portfolio being acquired include:

  • Eltham is a community hospital project located in the London Borough of Greenwich that has been developed under the NHS LIFT framework with an availability-based revenue stream. The Company will acquire a 49.8% interest in the subordinated debt of the project.
  • Townlands is a community hospital scheme based in Henley-on-Thames which provides sub-acute care and comprises an ambulatory care centre and a palliative care centre. The Company will acquire a 100% interest in the equity and subordinated debt of Townlands.
  • STAG comprises education facilities in South Shields and Jarrow in the UK. The Company will acquire a 8.00% interest in the project’s subordinated debt and a 4.36% interest in the equity.

The Freeths team was led by Projects and Infrastructure Partner James Larmour, supported by Jackie Heeds (Projects) and Nicole Hendy (Corporate).

James Larmour commented “Over the course of 2021 we have worked on a number of significant PPP secondaries and infrastructure M&A transactions for our investor client base.  We were delighted to round out the year by closing another secondary market acquisition for INPP and are looking forward to a busy start to 2022.

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