Infracapital, the infrastructure equity investment arm of M&G Plc, has signed a financing agreement for its inland waterway transport assets, BCTN and MCS. The deal comprises of a five year infrastructure style debt with a bullet repayment. The lenders participating in the facility are National Australia Bank and Investec.
The facility size is €55m, comprising of a Day 1 term loan of €40m, a capex facility and RCF of €15m and an accordion feature. This will provide funding capability for future growth and expansion plans of the business.
Infracapital acquired BCTN, a leading inland container terminal operator in the Benelux in June 2021 and subsequently acquired MCS, one of the Netherlands’ largest container logistics companies, in December 2021. The two businesses have since been combined into one platform which seeks further consolidation in the region.
Both investments were made by Infracapital Partners III. Fund III’s strategy is to invest sustainably in essential brownfield infrastructure to meet the changing needs of society and support long-term economic growth across Europe.
Inland shipping is an environmentally friendly solution for transporting goods and is a resilient and growing segment in the Benelux logistics sector, providing a significantly more sustainable alternative to road haulage. Each barge has the ability to take approximately 100 trucks off the roads resulting in 75% less CO2 emissions and an easing in traffic congestion.
Herman Deetman, Managing Director at Infracapital, said: “This agreement is excellent news for the future growth of both BCTN and MCS. There is heightened focus across Europe to decarbonise transport and we see huge potential in the platform to play an important role in this in the Benelux region.”
If you require any further information, please contact:
Tom Murray tel. +44 20 7353 4200
Infracapital invests in, builds and manages a diverse range of essential infrastructure to meet the changing needs of society and support long-term economic growth. We take an active role in all of our investments, whether nascent or large, to fulfil their potential and ensure they are adaptable and resilient. Our approach creates value for our investors, as we target investments with the scope for stable and sustainable growth. Our portfolio companies work closely with the communities where they are based, to the benefit of all stakeholders. Infracapital is well positioned to deliver the significant investment required to help build the future. The founder-led team of experienced specialists has worked with more than 60 companies around Europe and has raised and managed over £6.8 billion of client capital across six funds.
Infracapital is part of M&G Plc, a leading European savings and investments business. M&G manages the long-term savings of more than 5 million people and is a major investor in the UK and in the global economy. Total assets under management are £370 billion (as at 31 December 2021).
BCTN is the main inland container terminal network in the Benelux with terminals in Alblasserdam, Beringen (Belgium), Geel (Belgium), Den Bosch, Nijmegen, Roermond, Venray and Meerhout (Belgium). Since its foundation in 1987, BCTN has been working on sustainable transport via European inland waterways.
MCS provides full-service container logistics, combining water transport with road transport and storage and transhipment. It uses regular scheduled services at its own terminals in Meppel, Groningen and Leeuwarden. Founded in 1993, it has provided an environmentally friendly solution for transporting containers.