Case Studies

Evo Infra provided model audit advice to Equitix on the refinancing of Grünwald Equity Geothermie GmbH, an operating combined heat and power geothermal plant located in Bavaria.

 

The plant, which is connected to a district heating network, was commissioned in 2014 and has 42 years of remaining operating life. It has an electricity generation capacity of 5.5 MWel, with an expected annual production of circa 34 GWh. Its estimated yearly heat generation capacity is around 43 GWh.

 

Evo Infra acted as model auditor to Equitix on the acquisition of the asset in early 2022.

Evo Infra provided model audit advice to Infracapital on the successful refinancing of their inland waterway transport assets, BCTN and MCS. The deal comprises of a five year infrastructure style debt with a bullet repayment.

 

The facility size is €55m, comprising of a Day 1 term loan of €40m, a capex facility and RCF of €15m and an accordion feature. This will provide funding capability for future growth and expansion plans of the business.

 

Infracapital acquired BCTN, a leading inland container terminal operator in the Benelux in June 2021 and subsequently acquired MCS, one of the Netherlands’ largest container logistics companies, in December 2021. The two businesses have since been combined into one platform which seeks further consolidation in the region.

DWPF acted as financial advisor to Equitix on the successful refinancing of the Southampton street lighting and traffic signage PFI project.

 

The project originally reached financial close on 10 December 2009, involving the replacement of around 13,500 lighting columns, 11,000 lanterns and 3,000 traffic bollards, as well as the maintenance of c. 28,000 street lights.

 

A new long-term senior debt facility was arranged with Aviva, replacing the original debt provided by Lloyds and Nationwide. Margins were reduced and gearing increased, resulting in a financial gain for both the City Council and the shareholder.

DWPF provided model audit advice to HICL Infrastructure on the acquisition of a 55% stake in ADTiM SAS, a wholesale fiber company in France.

 

ADTiM operates an independent wholesale fiber network that provides households in low-density rural areas of the Ardèche and Drôme departments, in southeast France, with 11.4k miles (18.3k kilometers) of fiber-to-the-home broadband infrastructure. Procured under France’s Ultra High Speed Broadband Plan, ADTiM is the sole wholesale provider of this subsidized rural network, with pricing regulated by ARCEP, France’s telecommunications regulator.

Evo Infra acted as financial advisor to DIF Capital Partners on the The London School of Economics and Political Science (LSE) student accommodation PPP, located on Glengall Road in London.

 

The project is a greenfield PPP that includes the design, build, financing, operations and maintenance (DBFOM) of new student accommodation facilities that comprise 676 beds, communal spaces, a gym, three roof terraces, a cinema room and two courtyard gardens.