Rubicon Infrastructure Advisors ULC announced the formation of a long-term partnership entered into by COMSA Concesiones with Mirova to develop an infrastructure investment platform in Europe.

Rubicon served as exclusive financial advisor to COMSA Concesiones in the development of this new partnership. As part of the agreement, COMSA Concesiones has contributed a portfolio of PPP seed assets located in Spain to the newly created vehicle, Mircom Concesiones de Infraestructura S.L., which will serve as the first step towards the development of the investment platform. Mirova will hold a controlling equity stake, while COMSA Concesiones will retain a significant minority position. The parties have agreed not to disclose the pricing or shareholding distribution at this time.

Moving forward, the parties will continue to develop MirCom’s portfolio through potential “bolt-on” acquisitions of COMSA Concesiones’ remaining PPP assets. Mirova and Comsa have also agreed on the terms of potential future collaborations in new greenfield transportation and social infrastructure PPPs in Spain and across other OECD countries.

“We are delighted to have represented COMSA Concesiones for a second time and in this instance helping them forge an innovative partnership with a sophisticated financial investor which will help to advance the competitive landscape for greenfield PPP assets in Europe and beyond,” explained Rubicon Managing Director Jesus Gonzalez.

With the closing of this transaction, Rubicon continues to maintain its 100% success rate in closing every sell-side assignment on which it has been mandated over the past three years.