Equitix, supported by Community Solutions Investment Partners, announced the successful acquisition from the John Laing Group and Uberior ( Bank of Scotland), of Primary Plus (Holdings) Limited, the private sector partner in six Public Private Health and Social Care Partnerships (LIFTCos).
Primary Plus has been one of the leading investor, development and asset management companies in the LIFT (Local Improvement Finance Trust) market since its inception in 2002. They have developed and now manage an impressive community infrastructure portfolio of 45 buildings with an estimated capital value of £370m.
Equitix is an investment company designed to deliver and manage Public Private Partnership (PPP) projects from bidding and closing through to construction and service provision. Their reputation has been built upon strong relationships with their clients and partners, as well as a committed approach to every project with which they are involved. Their investment in Primary Plus furthers this commitment.
Community Solutions was similarly created to invest, develop and maintain public sector infrastructure and before this acquisition developed and maintains a portfolio of 65 community facilities. With this acquisition they will now be responsible for providing management services across large areas of the Midlands, Greater Manchester, Yorkshire, London and the South of England.
Hugh Crossley, Chief Investment Officer at Equitix commented: 'This acquisition places Equitix as a significant Private Sector Partner in this specialist sector which fits very well into the wider PPP portfolio we have built up over recent years. '
Community Solutions' Managing Director, Alastair Gourlay, also commented, 'We are looking forward to bringing together the Community Solutions and Primary Plus teams into one family that will deliver management services across the largest community estate portfolio in England valued at over £700m.'
This is the second acquisition Equitix and Community Solutions have made in the LIFT market having completed on the acquisition the Accent Group's portfolio in Bradford & Airedale and Durham and Tees (with Community Ventures) last year.
Notes to Editor
The Local Improvement Finance Trust (LIFT) Programme was conceived in 2000. The programme has resulted in the most concentrated joint investment by the private and public sectors in new, locally run primary health and social care facilities since the advent of the National Health Service. This has been achieved through the formation of partnerships, combining the expertise and investment of the private sector with the skills, experience and drive of Primary Care Trusts, General Practice and Local Authorities.
Should you have any queries then please contact Peter Cox - Peter.Cox@community-solutions.co.uk