Recent Work - Infrastructure

PFI/PPP:

Education:

Dumfries & Galloway Schools - advising Dumfries & Galloway Council on its £100m schools PPP project which will deliver nine new schools and one refurbished school. The Project company E4 d&g is led by Amey and includes Cyril Sweett, Amey Facilities Management and three construction contractors, Farrans, H&J Martin and the Patton Group
Glasgow Secondary Schools - advising Bank of Scotland on the £177m refinancing of this 30 year concession comprising 29 secondary schools which are a mixture of new build and refurbishment
South East Regional College – East Down & Lisburn Campuses - advising Bank of Ireland as the sole MLA on the £67.2m funding of two separate projects to design, build and finance and operate new college facilities at the East Down and Lisburn Campuses, the East Down project company comprising Bilfinger Berger Project Investments, Graham Facilities Management and O'Hare & McGovern and the Lisburn project company comprising Bilfinger Berger Project Investments Limited, Graham Facilities Management and Farrans Construction Limited
Derry Schools - advising Bank of Ireland as the sole MLA on the £41m new build schools PPP project for the design, construction, financing and operation of St Cecilia's College and St Mary's College by an Interserve/O'Hare & McGovern consortium

Health:

NHS LIFT Projects – advising Bank of Scotland in 25 separate NHS LIFT schemes
NHS LIFT Projects – advising Robertson Construction on a number of NHS LIFT schemes
St Andrews Hospital PFI Project – advising Dexia Public Finance Bank as funders of a Galliford Try Investments / Galliford Try Construction / Morrison Facilities Services consortium in relation to the construction of a community hospital and health centre in St Andrews, Fife
Fife Hospital Project – advising Balfour Beatty Construction on the construction of a new hospital in Fife
Clackmannanshire Community Healthcare Project – advising Robertson Construction on the construction of a new health centre in Alloa, Clackmannanshire
Greater Glasgow ACAD Hospitals Project – advising Balfour Beatty Construction on the project for the provision of two Ambulatory Care and Diagnostic centres at Stobhill Hospital and the Victoria Infirmary
Major Northern Ireland healthcare projects – advising the bidders on three of the major NI healthcare projects, Enniskillen Acute Hospital, Omagh Local Hospital and Ulster Acute Hospital
Midlothian Community Hospital Project – advising Robertson Construction in relation to the construction of a new hospital.

Roads:

NI DBFO2 Project – advising Ambac Assurance UK Limited as funders of the Amey / Lagan / Ferrovial consortium on a motorway DBFO project in Northern Ireland. The project involves upgrading of the existing A1 motorway including provision of a new dual carriageway outer by-pass of Newry between Beech Hill and Cloghogue
Austrian Roads – advising European Investment Bank on the first PPP road project in Austria
M77, Scotland – advising the construction joint venture on the M77 DBFO Project
A69 DBFO road project – advising the private sector consortium on the A69 DBFO contract
M80 Project – advising a Bilfinger Berger, Farrans and John Graham as contractor in relation to the M80 Project

Water & Waste Water:

Omega PPP Project – advising Glen Water (a Thames Water/Laing O’Rourke consortium) on a major wastewater infrastructure project in Northern Ireland
Dumfries & Galloway Council Waste Management and Recycling Project – advising Dumfries & Galloway Council on the PFI provision of a long term waste management and recycling service
Moray Waste Water Project – advising Catchment Moray Limited in relation to the extension of a waste water treatment plant in Moray

Housing & Accomodation:

Defence Housing Executive Portsmouth 2 – advising the Morrison Project Investments Limited / Barclays Infrastructure consortium and its funders, Dexia Public Finance Bank on the construction of 148 service family houses in the Portsmouth area
Addiewell Prison Project – advising Royal Bank of Scotland on the design, build, financing and operation of a 700 cell prison at Addiewell, West Lothian
Newcastle Libraries – advising Bank of Scotland as funders of a Kajima consortium on the design construction, finance and operation of two new libraries in Newcastle

Facilities Management & Operational Issues

advising the Funder on the Facilities Management Agreement and Interface Issues on the East Down and Lisburn Institutes Project in Northern Ireland
advising the Funder on the Facilities Management Agreement and Interface Issues on the Newcastle BSF
advising the University of Aberdeen on the delivery of the Aberdeen Regional Sports Facility
advising the Funder on the Facilities Management Agreement for various LIFT Projects such as Sandwell, MAST, Greater Nottingham, Leicester and Southern Derbyshire
advising the Funders on the Facilities Management Agreement and Interface issues on various schools projects for authorities such as North Lanarkshire, Highlands, Stirling, Dumfries and Galloway, Birmingham and Bassetlaw
advising Authorities, Funders, Project Companies and Facilities Managers in relation to operational issues such as benchmarking, market testing, changes and disputes arising in established PFI/PPP Projects
advising the Funders on the Facilities Management contracts in respect of the Dundee Schools and St Andrew’s Community Hospital Projects
advising Ayrshire and Arran NHS Board on the benchmarking provisions of a PPP contract
advising Infrastructure Managers Limited on the addition of new services to an existing MOD housing PPP contract
advising NewSchools (Merton) Limited on the variation of the terms of a Facilities Management Agreement
managing the due diligence process for Infrastructure Managers Limited on various secondary markets transactions including advising on the facilities management provisions of the relevant contracts
advising the Preferred Bidder on the Facilities Management Agreement and Interface Issues on the West Lothian II Schools Project
advising the Project Company and Operating Contractor in relation to ongoing operational issues, including a variation to the terms of the Services Contract and Operating Agreement in respect of the Almond Valley, Seafield and Esk Waste Water PFI Project
advising the Funder on a variation to the terms of the Project Agreement and Facilities Management Agreement in respect of the St George’s Hospital Morpeth PPP Project
advising the Funder on a variation to the terms of the Project Agreement and Facilities Management Agreement in respect of the Gartnaval Royal Hospital PPP Project
advising the Preferred Bidder on the Facilities Management Agreement and Interface Issues for the Midlothian Schools 2 PPP Project
advising the Funder on the Facilities Management Agreement and Interface Issues for the Stirling Schools PPP Project
advising the Funders on the Facilities Management Agreement and Interface Issues for the Highland Schools 2 Project
advising the Funder on the Facilities Management Agreement for the NHS Lift Leicester, Sandwell 1B, MAST 1B and Mast 1B, North Notts and Greater Notts 1B Projects
advising the Preferred Bidder on the Facilities Management Agreement for the DHE Portsmouth 2 Service Family Accommodation Project

Secondary Markets & Refinancing

advising Infrastructure Investors LP in respect of a number of bids for equity interests in PFI Projects including their acquisition of portfolios of assets from AWG, the Robertson Group and Bank of Scotland
acting for Infrastructure Investors LP, Barclays European Infrastructure Fund and Royal Bank Project Investments in the sale of 100% of the equity in Tricomm Housing Holdings Limited (the holding company for the Bristol, Bath and Shrivesham service family accommodations PFI project) to a Hodge & Co. /HBOS Joint Venture company following a competitive tender process
acting for Infrastructure Investors LP in the purchase of 100% of the equity interests in the Ingelby Barwick Community Learning Centre, Aberdeenshire Schools and Chester-le-Street Hospital Projects from a vendor group consisting of Robertson Capital and Quayle Munro (as manager of the PFI Company Fund)
acting for Infrastructure Investors LP in the sale of the Inverness Airport PFI Project to a company owned by the Scottish Ministers
advising Secondary Market Infrastructure Fund UK LP (SMIF) in relation to the acquisition of HSBC Infrastructure Limited's and then subsequently Quayle Munro Limited’s debt and equity interests in Falkirk Schools Limited
advising Bannockburn Group Limited (BoS and Quayle Munro) in relation to the acquisition of Bannockburn Holdings Limited from HSBC and Mowlem and subsequently refinancing of the Project
advising Royal Bank Project Investments on the sale of their debt and equity in the project vehicles for the following projects: The Edinburgh Royal Infirmary; Sedgefield Community Hospital; Lossiemouth Defence Housing; Kinnoull House; Highland Schools, Caerphilly Schools; and Kintra & Grannag Projects
advising MJ Gleeson on their sale of 100% of the debt and equity in the Highland Schools PFI Project vehicles to Henderson Investors
acting for Dawn Construction Limited in the acquisition of the debt, equity and FM Interests of Melville Dundas Limited in the Larkfield Hospital, James Watt Campus and Castlehill Community Learning Facility
advising Rolls Royce plc in relation to sale of equity stake in MoD PFI project (Field Electrical Power Systems)
advising the original private sector shareholders (Alfred McAlpine / WS Atkins / Sodexho and HSBC) in relation to the proposed refinancing (and release of value) of the Hereford Hospital PFI scheme
advising Hochtief PPP Solutions in relation to the sale of significant minority interests in seven PFI Schools projects through the structuring of an investment vehicle to effect the value realization
advising Jarvis plc in connection with the sale of their entire PFI portfolio (27 projects) through an auction process

Infrastructure Funds

In addition to this recent landmark transaction and our vast experience in the PFI/ PPP sector, McGrigors' has extensive fund experience including:

acting for Bank of Scotland in gearing and investing in the Norwich Union PPP Fund (a fund comprising 12 PFI assets)
acting for The Royal Bank of Scotland as arranger of syndicated facilities to 3 Jersey registered investment property funds established for the purpose of investing in UK real estate having an aggregate debt requirement in excess of £800m
advising funders on gearing mezzanine funds and providing warehouse facilities prior to fund closing
advising an investor on investing in a start up fund manager
advising the financial institution acting as investor and lender in relation to a fund holding a portfolio of 11 PFI projects
advising on a number of social housing funds structured as joint ventures between housing associations, developers, funders and real estate advisers
advising on offshore structures for investment into hotels, ports and real estate in India
advising on the restructuring of debt within existing fund structures so as to achieve greater tax efficiency
advised on the structuring of feeder arrangements relating to the founders of a dual-listed real estate fund, including third party equity and debt participations
currently advising on the structuring and launch of a fund of funds relating to European real estate investments
acted for a US-owned private equity house in the migration of its UK advisory entity to an LLP, including the project management of legal, tax, accounting and regulatory issues involved in the design, planning and implementation of the structures
acted for a US investment bank in relation to the US$6bn restructuring of the regulatory capital of its UK sub-group, involving the contribution of debt assets into a limited partnership structure
advised the European arm of a US-owned venture capital group on the establishment of a co-investment vehicle for senior managers
advised a major European real estate fund on the structuring of the acquisition of a group of property SPV companies
acting on the establishment and promotion of a number of different fund structures, both listed and unquoted including limited partnerships and LLP structures, authorised and unauthorised unit trusts, investment trusts, enterprise zone trusts and property syndicates. These structures have focused on listed equities, private equity funds, funds investing in different types of property and more recently renewable energy funds
advising clients on matters incidental to funds, including investment management agreements, fund operator agreements, custodian agreements and agreements relating to the outsourcing of fund administration services
advising clients on the relevant FSMA rules relating to the promotion of funds in the UK and, in particular, on the financial promotion rules promulgated by the FSA
the team are currently working on the establishment of a renewable energy fund and recently acted for the Bank of Scotland which was a founder investor in Sigma Sustainable Energy Fund II LP Our extensive infrastructure and funds offerings mean we are uniquely placed to help you take forward a fund raising. If you are stakeholder in the infrastructure market with a sizeable portfolio of assets and a desire to free up capital, we would be delighted to discuss with you the possibility of establishing a Fund with third party investors.

Non-Profit Distributing Models

for bidding consortia on both the Aberdeen Schools and Falkirk Schools NPD Projects
for the European Investment Bank in respect of its role in funding the Argyll and Bute Schools NPD Project which completed in September 2005
for the vendor and issuer on the Moyle Interconnector NPD Project (a project involving the 100% senior debt financing of the electrical interconnector between the electricity grids of Scotland and Northern Ireland, through a monoline wrapped bond financing)
for Royal Bank of Canada/Team Northern Ireland/Premier Transmission Limited in the implementation of a structure similar to that used on the Moyle Interconnector Project to finance the acquisition of the Scotland Northern Ireland Gas Pipeline
in the structuring and incorporation of the NPD group, Northern Ireland Energy Holdings Limited, and currently acting for them on the (bond financed) debt financing of the Belfast Natural Gas Pipeline
for the Scottish Executive on the grant funding and structuring of the Glasgow Housing Stock Transfer (the largest of its kind in Europe) to a non-profit vehicle and the subsequent structuring in relation

Transport

Maritime/Shipping

advising Stimwell Services BV in a $400M deal to charter a "purpose built" supply vessel for conversion to well fracturing duties with BP

Airports

advising Blackpool Borough Council on its arrangements with its exiting and new private sector operations partner at Blackpool Airport, as well as the arrangements relating to the future development and operations of the Airport.
Exeter International Airport – advising on its privatisation
Bandaranaike International Airport, Sri Lanka – advising the Sri Lankan Government in relation to the proposed privatisation of Bandaranaike International Airport
Inverness Airport – advising on the sale of Inverness Airport to a company owned by the Scottish Executive
Belfast City Airport – advising on the sale of Belfast City Aiport;
Prestwick Airport / Infratil – providing strategic advice for operational and development issues at Prestwick Airport

Roads

advising in relation to the introduction of the Routine and Winter Service Code to three of CRL's current long-term highways maintenance contracts. The work builds on a secondment of a member of staff to the company
NI DBFO2 Project – advising Ambac Assurance UK Limited as funders of the Amey / Lagan / Ferrovial consortium on a motorway DBFO project in Northern Ireland. The project involves upgrading of the existing A1 motorway including provision of a new dual carriageway outer by-pass of Newry between Beech Hill and Cloghogue
Austrian Roads – advising European Investment Bank on the first PPP road project in Austria
M77, Scotland – advising the construction joint venture on the M77 DBFO Project
A69 DBFO road project – advising the private sector consortium on the A69 DBFO contract
advising a contractor on an arbitration over a major road building project
advising and representing large civil engineering contractors in relation to multi-million pound losses arising out of design defects and other events on a major road junction replacement scheme
M80 Project – advising a Bilfinger Berger, Farrans and John Graham as contractor in relation to the M80 Project

Ports and Harbours

Glasgow Harbour Clydeside Riverfront – advising on navigable waterways, roads infrastructure and framework agreements for regeneration of the Clydeside in Glasgow
Greater Yarmouth Port – advising on the financing for the redevelopment of Greater Yarmouth Port, including State Aid aspects
Belfast, Londonderry and Warrenpoint – advising the Department for Regional Development (N.I) on new powers for ports of Belfast, Londonderry and Warrenpoint and drafting the necessary legislation
Ocean Terminal, Edinburgh – advising Forth Ports in redevelopment issues for the Ocean Terminal development in Edinburgh
Leith and Granton Harbours, Edinburgh – advising Forth Ports in its activities in major regeneration of Leith and Granton Harbours for residential and commercial usage
advising harbour authorities on statutory powers; drafting and promoting Harbour Revision orders
Port of Dundee – advising Forth Ports in their acquisition of the Port of Dundee
Port of Tilbury – advising Forth Ports in their acquisition of the Port of Tilbury
The Nordic Group – advising Forth Ports in their acquisition of the Nordic Group, a group comprising a port terminal operation, a materials recycling business and a data management and storage business

Rail

acted for Relayfast Limited which acquired (MBO) the track renewals business of Scotland Track Renewals Limited
acted in a subsequent acquisition of Western Track Renewals Limited, which also carried out track renewals operations in England and then a subsequent sale of the Group as part of the consolidation of the rail maintenance and renewals businesses which had been spun out of British Rail
Transport Initiatives Edinburgh (TIE) – advising Bombardier in relation to their tender for the Transport Initiatives Edinburgh (TIE) tram project
McGrigors Public Policy advises the Babcock Group on the government and political landscape in Scotland including intelligence and strategic counsel on the communities
Babcock Group works in, prospective public rail infrastructure projects and its relationships with public sector agencies and the Scottish Government