Developing and investing in a shared future



Equitix Close North Tyne Extra Care

The Equitix led Consortium ‘Solutions 4 North Tyneside’ comprising equity partners Equitix and Miller Construction, have signed and priced the project today and expect to reach Financial Close on Wednesday 26th March. The project is the development of 924 ‘Quality Homes for Older People’ (including Extra Care) across the North Tyneside area. The project is being financed by an Assured Guaranty wrapped bond.

Miller Construction will be responsible for the construction of the new build infrastructure works and refurbishment works to existing properties. The 924 units are spread between 26 schemes, 10 of which will be new build sites and 16 refurbishment sites. The initiative will be a major construction project for the region, creating up to 500 jobs.

As well as the design and construction of the schemes, the contract involves the management of the facilities for the 28 year duration of the project. Facilities Management for the project will be provided by Lovell Partnerships.

As ever we are proud to be supporting Ol Pejeta and Endana Secondary School.


Significant Progress made on site at Endana Secondary School, Kenya

Equitix continues to support Endana Secondary School in Kenya through the annual charity drinks evening with cosponsors Deloitte, Evercore and CMS. Funds raised to date have gone towards building and equipping a science laboratory and we are now funding the building of a girls’ ablution block to help improve sanitation and the health and safety of the children in their learning environment. School enrolment is expanding and the construction of a new girls’ dormitory as well as a canteen is also underway. The girls’ dormitory at Endana is 90% complete. By supporting infrastructural development in local schools, Ol Pejeta Conservancy hopes to promote the appreciation of the value for wildlife conservation amongst local communities thereby creating a critical mass of local pro-wildlife stakeholders necessary for conservation to take place.

As ever we are proud to be supporting Ol Pejeta and Endana Secondary School.


UK Green Investment Bank and Equitix announce energy efficiency deal with make Bernard Matthews

The UK Green Investment Bank (GIB) and Equitix have today announced a £24.5m investment to finance the installation of renewable energy boilers at Bernard Matthews’ turkey farms.

The project, the largest of its kind, will see c.179 new biomass boilers installed across 21 farms in Norfolk, Suffolk and Lincolnshire, meaning that 40% of Bernard Matthews’ estate will benefit from the new renewable energy technology.

Shaun Kingsbury, Chief Executive, UK Green Investment Bank, said:

‘Across the UK, GIB, are starting to see some excellent examples, from farsighted companies, of the commercial benefits that come from investments in energy efficiency and renewable energy generation. These benefits can be significant, especially for energy intensive industries, including many parts of the farming industry. Bernard Matthews have placed sustainability at the heart of their business and we are pleased to be able to support them in their ambition to generate 100% of their energy sustainably.’

In addition to reducing costs, the new boilers will have a significant green impact by reducing greenhouse gas emissions. In addition, the dry heat biomass systems produce a number of benefits due to the improved circulation of heat, including reduced ammonia levels, reduced ventilation requirements, and increased litter (bedding) quality.

The project will create c.51 jobs in the local area, including nine full time permanent positions.

The Equitix managed fund, Energy Saving Investments (ESI), in which GIB is the cornerstone investor, is investing £12m in the project. This mobilises an additional £12.5m of additional private sector capital, from the Equitix Energy Efficiency Fund (EEEF).

Geoff Jackson, Chief Executive Officer, Equitix, said:

“We are pleased to be investing further GIB capital into a project that not only benefits Bernard Matthews, by reducing their costs, but also benefits the environment. We have a strong pipeline of opportunities to deploy GIB funds into future energy efficiency projects alongside additional private sector capital.”

Vince Cable, Business Secretary, said:

"We set up the UK Green Investment Bank to kick start investment in renewable energy technology like this. Bernard Matthews has seen that energy efficiency makes good business sense and I am confident that more companies will follow.

"Today’s investment will have a significant green impact by reducing carbon emissions and benefits local economies by creating green jobs across three counties."


Greater Gabbard OFTO wins European Transmission Deal of the Year 2013

At the Project Finance Deals of the Year 2013 held earlier this month, Greater Gabbard OFTO was selected as the European Transmission Deal of the Year.

Financial close was achieved by the consortium comprising Equitix, Balfour Beatty and AMP Capital in November 2013 for the Greater Gabbard OFTO. It is the first OFTO to be financed through a Public listed bond and is the first OFTO to utilise an EIB Project Bond Credit Enhancement (PBCE) product.


Equitix Acquires 50% of Private Sector Share in Hub North Scotland

Equitix have formed a joint venture with Sweett Group to acquire their 50% share of the private sector shareholding in Hub North Scotland.

Hub North Scotland constitutes one of five Hub projects being procured and developed by the Scottish Futures Trust and the framework encompasses Grampian, the Highlands, Northern Isles and Western Isles territories. The projects will typically consist of local authority education, healthcare and community infrastructure projects and FC has been achieved on the first two projects: Aberdeen Community Health Care Village and Frederick Street Car Park. A further pipeline of projects has been identified for future development through the Hub, with the third project (Alford) due to reach Financial Close imminently.

Hard FM on the revenue funded projects will be provided by Hub for 25 years following construction completion

Hugh Crossley, Chief Investment Officer of Equitix commented that “This is good news and adds to Equitix’s already significant commitment to Scotland; building on our existing projects which include North Lanarkshire Schools, Inverclyde Schools, Inverness College and Hub South West.

We are very pleased to extend our involvement in the Hub programme and look forward to supporting the work of Sweett and Miller, and building on our relationship with the Scottish Futures Trust and the local communities.”


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