Graham Acquires Carillion’s Share of the Equity on SHNB
Graham Capital Partners LP, a subsidiary of Graham Group Ltd., announce they acquired and completed the purchase of Carillion Private Finance Limited’s share of the equity in the Saskatchewan Hospital North Battleford (SHNB) Project. Under the transaction, Graham Capital acquired 50% of the issued and outstanding shares of Access Prairies Partnership (APP). Graham Capital already owns the remaining 50%. APP is the contracting entity responsible for the design, construction, maintenance and partial financing of the new provincial mental health treatment centre.
The equity sale is a result of the liquidation of Carillion PLC.
“We’re pleased to announce that we closed the Share Purchase Agreement with Carillion,” says Tim Heavenor, CFO, Graham Group Ltd. “While the insolvency of Carillion was disruptive to the project, the province of Saskatchewan has been protected from the financial impact by the P3 contract. With this transaction completed, our team can now focus on service commencement and the transition into the 30-year operating period.”
The new 284-bed Saskatchewan Hospital North Battleford will have 188 beds replacing the existing 156-bed facility, and a 96-bed secure unit for male and female offenders living with mental health issues. The project is in the final stages of construction.
Graham Group Ltd. is an employee-owned construction solutions partner with revenues exceeding $2 billion annually. With over nine decades of experience, Graham provides general contracting, design-build, integrated project delivery, construction management, public-private partnerships and development services in the buildings, industrial, infrastructure and project finance sectors. Headquartered in Calgary, Alberta, Graham has offices throughout North America and employs over 1,300 professionals and office staff. As Canada’s sixth largest construction company, Graham has the resources, capacity and expertise to undertake projects of every scope, scale and complexity. Graham is recognized as one of Canada’s 50 Best Managed Companies.