Google Plus
Facebook
Twitter
Linked In
Back Issues
Newsletter Sign Up
Back Issues
Newsletter Sign Up
World Cargo News
Search
Search
Bulk Materials International
Filter content by area of interest
Ports & Terminals
Port AuthoritiesContainerBulkBreakbulk/General CargoRo-Ro/AutomotiveGTOs
Cargo Handling Equipment
STS CranesYard CranesMobile CHERo-Ro EquipmentBreakbulk EquipmentLow ThroughputBulk Handling Equipment
Shipping & Logistics
Container ShippingBreakbulk/General CargoRo-Ro ShippingDry Bulk ShippingLiquid cargoesLogistics
ICT
TOSPlanning & Optimisation TechnologyWiFiMobile ComputingPort Community SystemsAsset Tracking & Monitoring
Automation
Automated EquipmentGate AutomationRemote ControlProcess Automation
Multimodal
RailInland WaterwaysShortsea ShippingRoadAir-Cargo
Container Industry
Container manufactureContainer leasingRepair/StorageTradingConversion/Innovation
Refrigeration
Operations/TransportContainer leasingEquipmentM&R/Storage
Breakbulk
General cargoProject Cargo/Heavy LiftForest productsRo-Ro/AutomotiveAgribulks
Safety & Security
InsuranceHazardous cargoLashings/SecuringLegal/Regulatory
Civil Engineering
Port & terminal construction/designCivil & Consulting EngineersDredging & ReclamationMooring & FenderingLightingPaving & Surfacing
Environment
Business
InsuranceLegal/RegulatoryAppointments/PeopleMergers/Acquisitions/RestructuringFinance/Financial ResultsTrade & Professional AssociationsBusiness/Commerce Miscellaneous
 View all Topics View all Topics A-Z
More View all Topics View all Topics A-Z

You are viewing 1 of your 1 guest articles


register  or  login  for full access to online news

New owner for Forth Ports

Forth Ports Limited has announced that Arcus European Infrastructure Fund 1 LP has agreed to sell the company to Canada’s Public Sector Pension Investment Board (PSP Investments)

Linked InTwitterFacebookeCard

In a joint announcement from Edinburgh, London and Montréal, Forth Ports Ltd has revealed that its new owner is Canada’s Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investment managers with C$153B of net assets as of 31st March, 2018.

Charles Hammond, CEO, Forth Ports
Charles Hammond, CEO, Forth Ports

“This is a landmark transaction for PSP to increase our stake in a strategically located, top-tier infrastructure asset in the UK,” said Patrick Samson, Managing Director and Head of Infrastructure Investments, PSP Investments.

 

“Since PSP’s original investment seven years ago, Forth Ports’ world-class management team has led the company through consistent high performance and growth. We are now entering the next phase of our journey together, which includes a specific plan to enhance our asset management responsibilities.

 

"This plan is being headed by our London-based team under the leadership of Patrick Charbonneau, Managing Director, Infrastructure Investments (Europe).”

 

In infrastructure, PSP Investments has C$15B of net assets under management as of 31st March, 2018. It has strong exposure in renewables, airports and toll roads. Forth Ports is believed to be its first investment in the ports industry.

The Port of Tilbury
The Port of Tilbury

It is not clear what stake PSP has had in Forth Ports Ltd. Forth Ports was delisted in 2011 when Arcus, which already owned the former BBI’s 23.5% stake, bought the company for £746M.

 

Scotland-headquartered Forth Ports owns and operates five ports on the Firth of Forth (Leith, Grangemouth, Methil, Burntisland and Rosyth), Dundee on the River Tay and Tilbury on the River Thames. Tilbury is the site of a major new port terminal, Tilbury 2, while the Port of Dundee is strongly positioned to service the needs of the growing offshore wind sector and North Sea oil and gas decommissioning industry.

Grangemouth container terminal
Grangemouth container terminal

“This is an exciting time for Forth Ports as we continue to deliver our ambitious expansion and investment programme around the UK,” said Charles Hammond, Group Chief Executive of Forth Ports.

 

“Our colleagues at PSP are already long-term, committed shareholders and this new investment ensures continuity for the business as we evolve to meet the customer demands of the future. I want to personally thank Stuart Gray, Simon Gray and all the team at Arcus for their constant support, insight and strategic guidance over the past seven years. Forth Ports is in a strong position with a clear vision for the future.”

 

“The Arcus team have been a long-term shareholder in Forth Ports and we leave the business in an excellent position, with a strong platform for continued growth,” said Stuart Gray, Arcus Partner. “We have enjoyed working in partnership with the management team, growing the business substantially during our period of ownership, and we will continue to monitor how the business evolves over the years with the new shareholding structure in place. We wish the management team every success for the future.”

 

Already last year it was reported that the owners of Euroports Group, which include Arcus, had appointed brokers for a sale.

Linked InTwitterFacebookeCard

You may also be interested in...

DoD deal for ORBCOMM and Savi Technology

Pineapples land at Tampa

Closing the loop on reefer monitoring

MDC Terminal gearing up

Crane run for DP World Australia

Reefer demand to boom

Related Stories

Container traffic drives growth in Ukraine's ports

During the first three quarters of the current year, Ukraine’s seaports increase...

24/7 automated customs clearance in Dunkirk

Following a request by DSV, customs declarations can be made round-the-clock eve...

Russia’s seaports: growth rate down

During the first ten months of 2018, ports in Russia including those in (annexed...

People on the move – changes at the top of Unifeeder

The Chairman and Vice-Chairman of the Advisory Board of Unifeeder have been repl...
Linked In
Twitter

© 2018 WCN Publishing Ltd
24 Bridge Street, Leatherhead,
Surrey KT22 8BX, England.

Linked In
Twitter