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10/04/2011 / UNITED KINGDOM / ACQUISITION FINANCE
Crédit Agricole CIB accompanies Arcus in the acquisition of Forth Ports
In June 2011 Crédit Agricole CIB acted as mandated lead arranger, underwriter, bookrunner and agent, alongside five other banks, in the acquisition finance project by Arcus Infrastructure Fund of a diversified ports company, Forth Ports plc in the United Kingdom (UK). The total debt for the project came to GBP 425 million.
Forth Ports is a group of ports situated on the east coast of Scotland and in London (Tilbury). It has consistently captured national market share of around 9% (volume) over the last decade. The group generated revenues and EBITDAEarnings Before Interest, Tax, Depreciation and Amortisation are the result of the operating cycle. It indicates the profitability of a company. (Source : Vernimmen.com) of around GBP 174 million and GBP 57 million (ports and recycling business) in 2009.
At the end of May 2011, the company was listed on the London Stock Exchange with a market capitalisation of circa GBP 744 million.
Crédit Agricole CIB was invited to the deal due to its extensive experience and strong relationship with Arcus and its main fund Arcus European Infrastructure Fund.
They were the lead sponsor of the Angel UK and Europe train acquisitions. Arcus was also the lead sponsors of the acquisition of Euroports, a European bulk port operator.
Crédit Agricole CIB has been involved in the UK Infrastructure market since its inception. The Bank has become a leading financier in infrastructure projects in the United Kingdom. Furthermore, in 2010 Crédit Agricole CIB ranked No. 1 as European Infrastructure Bank by Infrastructure Investor Magazine.
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Forth Ports is a group of ports situated on the east coast of Scotland and in London (Tilbury). It has consistently captured national market share of around 9% (volume) over the last decade. The group generated revenues and EBITDAEarnings Before Interest, Tax, Depreciation and Amortisation are the result of the operating cycle. It indicates the profitability of a company. (Source : Vernimmen.com) of around GBP 174 million and GBP 57 million (ports and recycling business) in 2009.
At the end of May 2011, the company was listed on the London Stock Exchange with a market capitalisation of circa GBP 744 million.
Crédit Agricole CIB was invited to the deal due to its extensive experience and strong relationship with Arcus and its main fund Arcus European Infrastructure Fund.
They were the lead sponsor of the Angel UK and Europe train acquisitions. Arcus was also the lead sponsors of the acquisition of Euroports, a European bulk port operator.
Crédit Agricole CIB has been involved in the UK Infrastructure market since its inception. The Bank has become a leading financier in infrastructure projects in the United Kingdom. Furthermore, in 2010 Crédit Agricole CIB ranked No. 1 as European Infrastructure Bank by Infrastructure Investor Magazine.