Fengate acquires Carillion’s equity interest in the Oakville Trafalgar Memorial Hospital
Fengate announced today that it has reached financial close on the acquisition by certain funds that it manages of Carillion Canada’s 40% equity interest in the Oakville Trafalgar Memorial Hospital project (“OTMH”) as well as the rights to oversee the provision of facility management services at the hospital for the term of the contract. This acquisition brings the total investment by Fengate-managed funds in OTMH to 90% of the equity.
“Fengate is very pleased to have finalized this transaction,” said Marco Di Carlantonio, Executive Director, “The new Oakville Trafalgar Memorial Hospital is the largest healthcare transaction project closed in Ontario, with over C$1.1B in capital raised at financial close.
Hospital Infrastructure Partners (NOH) Partnership, a consortium led by Fengate Capital, EllisDon and Carillion, was awarded the contract by Halton Healthcare Services (“HHS”) to design, construct, finance, and manage the facilities of the Oakville-Trafalgar Memorial Hospital. The project successfully reached substantial completion on July 31, 2015 and opened on December 13, 2015.
“The Oakville Trafalgar Memorial Hospital is a state-of-the-art healthcare facility,” stated Mr. Di Carlantonio, “This investment provides long-term cash flows for our investors and enhances Fengate’s existing, robust portfolio of social infrastructure projects.”
Oakville Trafalgar Memorial Hospital is the latest addition to Fengate’s portfolio of healthcare facilities, further solidifying Fengate’s position as a leading Canadian investor in social infrastructure. The firm’s infrastructure portfolio includes public-private partnerships, independent power projects and operating infrastructure assets across North America, Europe and Australia.