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Morgan Sindall and Equitix reach Financial Close on the North West, Priority Schools

25 Mar 2015

Morgan Sindall Investments Limited and their investment partner Equitix have reached Financial Close on the North West Building Programme batch.  This is the third PF2 batch of schools to close and has a capital value of £110m. 

The batch consists of five secondary schools and seven primary schools which will benefit 8,150 pupils across the North West.  Morgan Sindall plc, sister company to Morgan Sindall Investments Limited, will be responsible for the design and construction of the schools in the programme, with Integral UK providing FM Services.

The schools that are benefiting from this programme are located in Chester, Wigan, Blackpool, Birkenhead, Runcorn, Stockport and Manchester with schools due to be handed over between April 2016 and September 2017. 

Lisa Scenna, Managing Director at Morgan Sindall Investments comments: “Reaching Financial Close on this project is important for Morgan Sindall and for the 8,150 pupils we will be providing improved schools for.  We look forward to working with our consortium partners and the EFA over the coming 2 years to complete the construction of all the schools in the project”. 

Nick Parker, Chief Operating Officer, Equitix commented “Equitix are delighted to be involved with the Priority Schools Programme, providing essential educational facilities that will benefit children across the North West of England.  As a long term investor, it is important that we continue to commit to the UK’s future and by supporting the education system, we hope to enable children to learn in fit for purpose buildings and environments, setting a great foundation for future prospects.”

About Equitix:

Equitix was established in 2007 and is based in London. Equitix is an integrated core infrastructure asset management and primary project platform and typically invests in UK infrastructure projects with long-term revenue streams across the healthcare, education, social housing, highways and street lighting, offshore transmissions and renewable and waste sectors. Tetragon (TFG) owns 85% of the business; over time, TFG’s holding is expected to decline to approximately 74.8%. Management own the balance. Equitix Investment Management Limited is authorised and regulated by the UK Financial Conduct Authority. 

This release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any state or jurisdiction.