James Larmour

James has extensive experience of advising key project participants in relation to a number of primary and secondary market PFI/PPP and project finance transactions, both within the UK and overseas. James also has notable experience in healthcare having advised on a number of significant transactions encompassing infrastructure development, PFI/PPP, medical equipment, social care, joint ventures and M&A transactions.

Recent Work

• Leading the team advising Equitix on the £170 million+ refinancing of the Hampshire PFI street lighting project.
• Advising Building Schools for the Future Investments LLP on the consolidation of its BSF portfolio through a series of secondary market acquisitions and equity restructurings.
• Advising Dalmore Capital on the acquisition and restructuring of equity and subordinated debt in a number of BSF projects.
• Advising on the restructuring of a number of Local Education Partnerships prior to their being put into 'hibernation'.
• Advising Amber Infrastructure in relation to INPP’s investment in the £4.2 billion Thames Tideway mega project; perhaps the largest and most complex PPP project to close in 2015.
• Advising Tarmac as O&M Contractor in relation to the £600 million Mersey Gateway Project. The project featured the first wrapped bonds under the UK Infrastructure Guarantee programme and an innovative financing structure including long term commercial banking financing, a construction working capital facility and long term mezzanine finance.

James has many years experience of advising on significant transactions within the healthcare sector both within the UK and overseas. His experience includes complex procurements and outsourcings (such as PFI/PPP, LIFT, IS-TC, decontamination services) joint ventures and M&A transactions.

Cases

• Advising Care UK on a £110 million+ contract for the outsourcing of clinical services by Somerset CCG, via an innovative joint venture with Somerset Partnership NHS Foundation Trust.
• Advising a shortlisted bidder on its tender for the operation of George Eliot Hospital NHS Trust under an NHS ‘franchise’ arrangement.
• Advising investors in NHS PPP schemes on the implications of the Health and Social Care Act 2012 and NHS Trust administration.
• Advising on the terms of a 25 year contract for the provision of residential care services to Suffolk County Council.
• Advising sponsors and senior lenders in relation to a number of PFI/PPP schemes within the healthcare sector.
• Advising on a multi-billion US$ healthcare joint venture and outsourcing in Saudi Arabia.

James advises on greenfield and brownfield project development within the energy sector. He has particular experience of offshore transmission, energy from waste schemes and energy efficiency projects and smart meters.

Cases

• Advising TC Ormonde OFTO Limited on the restructuring of its senior debt facilities to allow for the receipt of Network Innovation Competition funding from Ofgem.
• Advising a leading meter asset provider on a project for financing the procurement of smart meters for a 'big six' energy company.
• Advising a leading infrastructure investor on the structuring of an innovative multi-site energy efficiency project for the installation of LED lighting.
• Advising RBS on secondment in relation to the Cory/Wheelabrator Norfolk B Waste PFI project for the development of a 286,000 tonnes per annum energy from waste facility.
• Advising the King’s Cross Development Partnership in relation to the development and financing of a CHP (Combined Heat & Power) facility to provide heating and hot water to the King’s Cross Central development.
• Advising Cornwall Council on the refinancing of its ‘path finder’ integrated waste management PFI scheme.

Cases

• Advising Amber Infrastructure on the refinancing of the Blackburn 1, Blackburn 2, Durham, Ealing, Luton, South Tyneside and Gateshead 2 and Wolverhampton BSF projects and the Liverpool Library PFI project
• Advising Equitix on the refinancing of the Hampshire, Knowsley, Nottingham, Southampton and West Sussex street lighting PFI projects
• Amber Infrastructure on the consolidation of its BSF portfolio. Transactions include:
  • the acquisition of Skanska and Essex County Council's interests in Essex Woodlands BSF
  • the acquisition of Essex County Council's interest in Essex 1 BSF
  • the acquisition of majority interests in Halton BSF
  • the acquisition of Babcock's interests in all four phases of Lewisham BSF
  • the acquisition of a number of investments from Carillion
  • the restructuring of a number of LEPs
• Advising Dalmore Capital on a number of secondary market transactions, including:
  • the acquisition of InfraRed's interests in the SE London Police PFI project
  • the acquisition of Sewell's interests in Hull BSF
  • the acquisition of Balfour Beatty's interests in Newcastle BSF
  • the acquisition of Sir Robert McAlpine's interests in Newcastle BSF
• Advising EQUANS in relation to its replacement of Carillion as FM Contractor in relation to the Rochdale 1 and 2 BSF projects
• Advising funds managed by Amber Infrastructure on the acquisition of an additional shareholding in Angel Trains from AMP Capital.
• Advising Amber Infrastructure on the joint venture arrangements with Access Capital Partners in respect of the acquisition of a majority stake in Service Terminal Rotterdam.
• Advising a leading infrastructure investor on a project to deliver kerbside EV chargepoint infrastructure for a London Borough, including specific advice on project structuring and procurement law.
• Advising an investor on a framework agreement with a ‘big six’ energy company for the roll out of EV charging infrastructure in private car parks.
• Advising a contractor on funding arrangements to support its obligations under a framework agreement with a number of local authorities to deliver the rollout of EV chargepoint infrastructure across publicly owned sites.
• Advising TC Ormonde OFTO Limited on the restructuring of its senior debt facilities to allow for the receipt of Network Innovation Competition funding from Ofgem.