Columbus Infrastructure (“Columbus”) announced today the successful acquisition by TIIC 2 SCA SICAR (“TIIC 2”) and 3i European Operational Projects SCSp (“3i”) of a 75% equity interest in DirectRoute (Fermoy) Holdings Limited and a 50% equity interest in DirectRoute (Limerick) Holdings Limited.
Columbus acted as exclusive financial advisor to 3i and TIIC.
DirectRoute (Fermoy) is responsible for the design, build, finance, operation and maintenance of the 17.5 km toll motorway between Fermoy and Watergrasshill, on the M8 Cork-Dublin route. The project was opened to traffic in October 2006 and the concession contract, granted by Transport Infrastructure Ireland, will run until 2034.
DirectRoute (Limerick) is responsible for the design, build, finance, operation and maintenance of an immersed tube tunnel under the River Shannon on the M18 Limerick Southern Ring Road and ancillary roadway. The project was opened to traffic in August 2010 and the concession contract, granted by Transport Infrastructure Ireland, will run until 2041.
3i Group plc is a member of the FTSE 100 and manages over £13 billion of assets across infrastructure and private equity, with a strong focus on the UK and Europe. 3i’s infrastructure business manages / advises approximately £4.2 billion of assets across five funds. 3i’s portfolio companies are present in over 80 countries.
TIIC is a pan-European infrastructure firm investing into mid-market infrastructure projects in both the transportation and social sectors. TIIC invests in greenfield and early brownfield assets, i.e. projects that are in an early stage of operation or projects requiring additional investment to improve the performance of the asset. TIIC was established in 2008 by the management team, together with Brisa and the Edmond de Rothschild Group. Currently, TIIC manages two infrastructure funds pursuing a high absolute return investment strategy.
Columbus provides Origination / Transaction M&A services and Asset Management services in the PPP Transport Infrastructure, Energy and Utilities markets.
We emphasize value creation and risk mitigation, optimizing key business drivers throughout the whole project lifecycle (origination- investment phase, asset management phase and divestment).
With a focus in Iberia and LATAM, our Team comes from leading international infrastructure investors and has extensive experience in Spain, Ireland, Portugal, UK, Mexico, Chile, Colombia, Costa Rica and the USA.