EllisDon Capital, an affiliate of EllisDon Inc., has entered into a long-term partnership with Fiera Infrastructure Inc., a leading global mid-market direct infrastructure investor and an affiliate of Fiera Capital Corporation. The partnership will acquire EllisDon’s interest in its existing portfolio of PPP projects and have the right of first offer over future PPP projects for a pre-agreed period.

The establishment of the partnership will allow EllisDon to redeploy capital back into development and operating activities, while retaining an ownership interest and participating in the long-term management of these assets.

EllisDon’s existing portfolio contains interests in ten PPP projects that represent a uniquely diverse asset base of Canadian PPP projects geographically dispersed across four provinces and three subsectors – social, healthcare and transportation.

In addition to the ten-project portfolio, EllisDon was awarded two additional projects in 2018, each with a 100% equity interest, which will be subject to the partnership right of first offer following completion of construction and stabilisation of operations. EllisDon has completed, led and been awarded more than 30 PPP contracts, and brings a robust pipeline of PPP projects for the new partnership.

The partnership was formed in October 2018 and the acquisition of the first three projects is expected to close in winter of 2019. EllisDon will participate on the board of the partnership and act as the manager, and as such, will continue to be the counterparty to the various stakeholders and partners in the transferred assets.

McCarthy Tétrault LLP is acting as counsel to EllisDon and Torys LLP is acting as counsel to Fiera Infrastructure in their establishment of the partnership.