Next phase of journey
Ownership change is ‘landmark’ deal for Forth Ports
New handlers: Forth Ports has seen a change in ownership
Forth Ports has announced a change of ownership after Arcus European Infrastructure Fund 1 sold its stake in the company to the Public Sector Pension Investment board.
PSP Investments will partner with other long-term investors who are well aligned to support the future growth of the Edinburgh-based company which owns and operates eight ports on the Forth, Tay and Thames.
Patrick Samson, managing director and head of infrastructure investments, PSP Investments, said: “This is a landmark transaction for PSP to increase our stake in a strategically located, top-tier infrastructure asset in the UK.
“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.”
The plan is being headed by the London-based team under the leadership of Patrick Charbonneau, managing xirector, Infrastructure Investments (Europe).
Charles Hammond, group chief executive of Forth Ports, said: “This is an exciting time for Forth Ports as we continue to deliver our ambitious expansion and investment programme around the UK.
“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.”
Stuart Gray, Arcus partner, said: “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.
“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.”