Developing and investing in a shared future



Equitix acquires Parkwood PFI Leisure portfolio in December 2009

Equitix is pleased to announce that it has acquired Parkwood’s stake in a portfolio of 5 PFI leisure projects comprising 9 sites: Bexley, Breckland, Rivendell, Waterfront and Penwith. The deal represents an excellent opportunity for Equitix to get involved into the PFI Leisure sector with an established and successful leisure operator.

A Director at Equitix commented "This transaction continues our success in the marketplace and demonstrates the Fund's focus on building a portfolio of quality assets whilst opening potential future opportunities in the leisure sector".

Equitix acquires Kent Care Home PFI in December 2009

Equitix is pleased to announce that it has acquired a 50% stake in a PFI scheme for the provision of two purpose built facilities in Kent that provide care and rehabilitation for the elderly. The facilities, which involved capital expenditure of c.£17m, have been operational since 2005. As is the case with Equitix’s care homes in Shropshire, this project will continue to be supported by Shaw Group who will deliver Hard and Soft services to the facilities.

Equitix appointed preferred bidder on Cambridgeshire BSF

Following a 15-month procurement and selection process, Equitix has been appointed preferred bidder on Cambridgeshire’s Building Schools for the Future Programme. Equitix will work in partnership with Cambridgeshire County Council on its £600m programme, which aims to rebuild and renovate the entire Cambridgeshire secondary school estate. The first phase of the programme will be focused in Fenland, where £100m of investment will result in major improvements to Meadowgate School in Wisbech, Thomas Clarkson Community College, Sir Harry Smith Community College, Cromwell and Neale Wade Community Colleges and the Fenland Junction Pupil Referral Unit.

The Equitix consortium includes local construction partners Kier Eastern and Galliford Try, as well as Cambridgeshire-based RH Partnership, and MAKE Architects. MITIE will provide facilities management on the scheme alongside DELL, the consortium’s ICT partner. CMS Cameron McKenna and Deloitte act as legal and financial advisers respectively.

Nick Parker, Director of Equitix, commented: "I am delighted that we have been selected to work in partnership with Cambridgeshire County Council to create schools which will put the needs of learners first. Our vision is to work with the schools and communities of Fenland to develop truly exciting environments that will meet the demands of a modern education system, with integrated ICT at its core."

Further information can be found on Cambridgeshire’s Building Schools for the Future website:



Greenwich BSF Reaches Financial Close

VT Group (VT) and Equitix have reached financial close on the Greenwich Building Schools for the Future (BSF) programme. VT is the Strategic Partnering Organisation for the London Borough of Greenwich, managing the design, construction and facilities management for all schools in the programme. VT and Equitix are equal shareholders in the special purpose vehicle (SPV) set up to construct and maintain the schools

The programme covers three waves of secondary school regeneration that includes all 13 secondary schools. Construction has commenced on the first two schools, Crown Woods and Thomas Tallis; both are due for completion in 2011.

Crown Woods’ 1,800 pupils will benefit from a three building ‘collegiate’ school, enabling streams of pupils to have their own separate facilities. The state –of-the-art school will be constructed on the existing playing fields with the students remaining in the old school until its demolition in 2011. This will make space for the provision of new playing fields, constructed to Sports England specifications. .

Thomas Tallis, a specialist performing arts school for 1,950 pupils, will significantly increase in size. The facilities incorporates a new sports centre which will include a six court sports hall, martial arts hall and gymnastic hall. The martial arts facility has been proposed as a training facility during the run-up to the 2012 Olympic Games. As with Crown Woods, the existing buildings will remain in use until the new school is ready for completion.

Geoff Jackson, Equitix's Managing Director stated;
"Working in partnership with VT and Greenwich we look forward to building a close long-term relationship that will help to deliver tangible benefits to the borough."

Equitix Take Fund 1 to £90m

Equitix Investment Management announced on Monday 12th October that its PPP fund, Equitix Fund I, has reached a further closing, with investor commitments now more than £90m. The investors are three U.K. corporate pension funds and four local authority pension funds. “This was a major step towards achieving the Fund’s target size of £125m by year end", said a Director at Equitix

Equitix has already committed around £55m of the fund.

Equitix acquires Primary School in Oct 2009

Equitix is delighted to announce the acquisition of a primary school project in Pembrokeshire from Macob Construction. Completed in 2001 the school was the first PFI primary school to open in Wales. The 5500m2 building encompasses state of the art accommodation for 500 pupils aged 3-11. An Autistic Unit and playgroup provision are also accommodated. The project was awarded ‘Best Operational Education Project’ (Public: Private Awards 05).

Equitix reaches final close on Derbyshire schools scheme - July 2009

Equitix - an investment company partly funded by local authority pension funds - has reached financial close on the first phase of Derbyshire County Council's £750 million Building Schools for the Future (BSF) programme.

Nationwide provides the senior debt of £37 million for the PFI part of the deal. The 25-year loan has a 12-month tail. First drawdown took place on July 16th 2009.

Equitix will supply around 80 per cent of the equity with the remaining coming from the public sector including Building Schools for the Future Investments (BSFI).

The Equitix consortium, which landed the 25-year concession ahead of Balfour Beatty last December, also includes:

  • Bowmer & Kirkland
  • GF Tomlinson
  • MITIE - FM provider
  • Dell - ICT provider

The transaction is the first primary investment for Equitix Fund I. The investment vehicle is funded by a mixture of private and local authority pension funds, and currently bidding on a number of other BSF as it seeks to expand its PFI portfolio.

The full Derbyshire scheme is one the UK's largest BSF programmes and will ultimately see the delivery of 46 schools across the central English county in a mixture of PFI and D&B arrangements. The first phase will deliver two PFI schools and one further D&B facility.

CMS provided legal advice for the sponsor with financial advice coming from Deloitte. Addleshaw Goddard provided legal advice for the lenders on the financing element of the deal, while CMS acted on the project side.

Nabarro was legal adviser for the authority with financial advice coming from Grant Thornton

Equitix Acquires Shropshire Care Home PFI in June 09

Equitix is pleased to announce that it has acquired a PFI healthcare portfolio. The concession with Shropshire CC is for construction plus 28 years, and the facilities have been operational since Sept 2006. The 6 facilities allow the re-provision of a variety of care facilities, community facilities and offices accommodation to the care teams. The project will continue to be supported by Shaw Group who will deliver Hard and Soft services to the facilities.

Hugh Crossley, Director commented "This continues Equitix's good progress in the marketplace and demonstrates the Fund's focus on building a portfolio of quality assets that compliment Equitix's primary business activities - in this case Extracare, an important market for the future".

Equitix Steps into Greenwich BSF June 09

Equitix is pleased to announce that it has stepped into Greenwich BSF PFI to replace ANZ bank. In partnership with VT Group, who are leading the transaction, Equitix hope to close the first wave PFI schools in the near future. The first two PFI schools are Crown Woods and Thomas Tallis with a capital value of approximately £100m.

Hugh Crossley, Director commented "We are delighted to join forces with VT in their Strategic Partnership with Greenwich."

Equitix Acquires Leeds Healthcare facilities in Feb 09

Equitix is pleased to announce that it has acquired a PFI healthcare portfolio from Accent Group. The project, which was originally closed by Accent Foundation in February 2000, involves the operation and maintenance of seven mental health units in Leeds. The project has been fully operational since 2003. The successful acquisition, restructuring and refinancing was approved by the PFU and Leeds Partnerships NHS Foundation Trust, and completed on 13th Feb. Equitix was supported by Interservefm who will deliver Hard and Soft services to the Trust.

Hugh Crossley, Director commented "Unusually for a secondary market transaction this required real commitment from the public sector, a new service provider, new lenders, as well as the vendor to get the deal done. The assets are a good fit for Equitix and demonstrate Equitix, Interservefm and National Australia Banks long term commitment to PPP despite the uncertainty in the market"

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Equitix Investment Management Limited - Registered in England and Wales, Registration number: 6273020 - authorised and regulated by the Financial Conduct Authority.

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