HICL Infrastructure completes acquisition of six education partnerships

Investor HICL Infrastructure Company has completed the acquisition of a portfolio of six education public–private partnerships from Germany’s Hochtief PPP Solutions for £22.7m

The consideration was funded from existing cash resources and the FTSE 250 company now has a funding surplus of about £11m.

The portfolio comprises four new investments, a 20.4% stake in Bangor and Nendrum Schools, 25.5% in Salford Schools, 25.5% in East Ayrshire Schools, and 25.5% in North Ayrshire Schools.

It also included two incremental investments of 25.5% each in both Manchester School and Cork School of Music, which brings the total interests for the company in the two projects to 75.5%.

The company was advised by InfraRed Capital Partners.

Shares in HICL Infrastructure Company were up 0.27% to 166.65p at 0816 GMT.