MONTREAL, Jan. 29, 2019 /CNW Telbec/ – Fiera Infrastructure Inc. (“Fiera Infrastructure”), a leading global mid-market direct infrastructure investor and an affiliate of Fiera Capital Corporation (the “Firm”) (TSX: FSZ), announced today that it has entered into a long-term partnership (the “Partnership”) with EllisDon Capital (“EllisDon”), an affiliate of EllisDon Inc., Canada’s premier Public-Private Partnership (“PPP”) developer, constructor, and facilities service provider. The newly formed Partnership will acquire EllisDon’s interest in its existing portfolio of PPP projects and have the right of first offer over EllisDon’s future PPP projects for a pre-agreed period. Fiera Infrastructure’s investment in the projects will be added to its global infrastructure fund.

“Partnering with EllisDon, one of North America’s most successful and experienced construction capital groups, enables Fiera Infrastructure to further access the highly competitive Public-Private Partnership market with a strategic long-term partner,” said Alina Osorio, President of Fiera Infrastructure. “This marquee transaction should provide our investors with ongoing access to essential Canadian infrastructure assets with low-risk, reliable, and stable cash flows throughout the lives of the projects’ concessions.”

“This partnership demonstrates EllisDon’s ongoing commitment to proactive asset management on our PPP investments while at the same time meeting the company’s strategic business objectives,” said Joey Comeau, Senior Vice President, EllisDon Capital. “EllisDon remains focused on exceeding our client’s expectations on each of the projects in our investment portfolio and are excited to have established a partnership with Fiera Infrastructure to accomplish those goals.”

EllisDon’s existing portfolio contains interests in ten PPP projects that represent a uniquely diverse asset base of Canadian PPP projects geographically dispersed across four provinces and three subsectors – social, healthcare and transportation.

In addition to the ten-project portfolio, EllisDon was awarded two additional projects in 2018, each with a 100% equity interest, which will be subject to the Partnership right of first offer following completion of construction and stabilisation of operations. EllisDon has completed over $4 billion worth of contracts annually, and has completed, led and been awarded more than 30 PPP contracts, and brings a robust pipeline of PPP projects for the new Partnership.

The Partnership was formed in October 2018 and the acquisition of the first three projects is expected to close in Q1 2019.

Advisors

Torys LLP is acting as counsel to Fiera Infrastructure and McCarthy Tétrault LLP is acting as counsel to EllisDon in their establishment of the Partnership.

About EllisDon

EllisDon, an employee-owned, $4 billion-a-year construction services company, has grown exponentially beyond its modest origins in London, Ontario. With over 5,000 salaried and hourly employees across fifteen national and international offices, EllisDon has become a leader in every sector and nearly every facet of the construction industry.

EllisDon has positioned itself as a ‘Cradle To Grave’ Services Provider with guaranteed performance outcomes through its Capital Services, Facilities Management, and Sustainable Buildings Divisions. EllisDon is determined to lead the coming disruption in the construction sector, having recently created pioneering initiatives in Energy Management, Smart Buildings Software and Data Analytics.

About Fiera Infrastructure

Fiera Infrastructure is a leading global mid-market direct infrastructure investor operating across all subsectors of the infrastructure asset class. Led by a team of highly experienced and specialized professionals, the firm leverages strong global relationships, with a local presence in both Toronto and London. Its rigorous approach to investment and asset management aligns with its long-term approach. Fiera Infrastructure has assets under management and commitments of C$1.6 billion, including an active interest in 24 infrastructure assets as of December 31, 2018. 
www.fierainfrastructure.com

About Fiera Capital Corporation

Fiera Capital Corporation is a global independent asset management firm with approximately C$136.7 billion in AUM as at December 31, 2018 delivering customized multi-asset solutions across traditional and alternative asset classes to institutional, retail and private wealth clients across North America, Europe and key markets in Asia. Fiera Capital strives to be at the forefront of investment-management science and is passionate about creating sustainable wealth for clients. Fiera Capital trades under the ticker FSZ on the Toronto Stock Exchange. 
www.fieracapital.com

 

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