Concert Infrastructure Acquires ASAP II Project
Concert is pleased to announce the acquisition of the Alberta Schools Alternative Procurement Phase II project (ASAP II).
A 100% interest in ASAP II, and the associated project company B2L Partnership, was acquired from HOCHTIEF PPP Solutions GmbH and Connor, Clark & Lunn GVest Traditional Infrastructure Limited Partnership.
The ASAP II project involved the design, construction, financing and maintenance of 10 Alberta schools located throughout Edmonton, Calgary, Langdon and Okotoks. B2L Partnership was awarded the $253M (CAD) ASAP II project in 2010 by Infrastructure Alberta. The schools have been in operation since 2012, and the 30 year concession period concludes in 2042.
The acquisition of secondary market projects such as ASAP II represent a key component of the company’s three-pronged investment strategy, and serve as an exceptional long-term investment for Concert and its shareholders.
"With this acquisition, Concert has become the largest investor in multi-site PPP projects in North America, with an interest in 40 individual facilities," said David Podmore, Concert Infrastructure’s Chairman & Chief Executive Officer. "This acquisition further demonstrates Concert’s long-term commitment to investment in Canadian infrastructure assets."
Concert Infrastructure will work with the Government of Alberta to ensure that these schools continue to provide an environment for children to learn and grow; while at the same time meeting the needs of a growing population.
About Concert Infrastructure
Concert Infrastructure is dedicated to developing and managing a diverse range of critical social and economic infrastructure in support of Canada’s growing economy. Proudly Canadian, Concert Infrastructure is committed to being a responsive and community-focused investment and development partner.
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