Nassau County seeks Transaction Advisor for sewer system P3
Nassau County, a suburban county on Long Island in the U.S. state of New York (USA), has recently published a request for proposal (RFP) seeking qualified banks and financial facilitators to provide investment banking and/or financial advisory services to the County in connection with a potential P3 transaction with a concessionaire involving the County’s sewer system.
Nassau County is trying to close this concession since 2012 when it appointed Morgan Stanley as financial adviser and Malcolm Pirnie/ARCADIS as engineering consultant for a proposed 70 year wastewater concession. More recently, in 2015 KPMG had been appointed as financial adviser for a long term concession again.
This time the County’s intention is to award a contract for a 2-year period with the option to renew for an additional 1-year period, for a possible total term of 3 years.
The services to be provided in connection with the P3 transaction will include, among other, the following issues:
- Conducting a strategic advisory review of the System in connection with the P3 transaction
- Providing the County with financial advice and assistance in connection with the P3 transaction
- Coordinating with the County’s legal counsel to represent the County in the development and/or negotiation of the procurement documents and the concession agreement with the concessionaire.
SUEZ Environment, through its Special Purpose Vehicle SUEZ Water Long Island Inc, is managing the sewage system currently through an operations and maintenance contract since 2012.
See the Request for Proposal.
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