M&A Deal Summary

PGGM Acquires Alpha Trains Luxembourg S.à r.l.

On January 13, 2021, PGGM acquired transportation company Alpha Trains Luxembourg S.à r.l. from Arcus Infrastructure Partners and PSP Investments

Acquisition Highlights
  • This is PGGM’s 1st transaction in the Transportation sector.
  • This is PGGM’s 1st transaction in Luxembourg.

M&A Deal Summary
Date 2021-01-13
Target Alpha Trains Luxembourg S.à r.l.
Sector Transportation
Buyer(s) PGGM
Sellers(s) Arcus Infrastructure Partners
PSP Investments
Deal Type Add-on Acquisition

Target

Alpha Trains Luxembourg S.à r.l.

Luxembourg, Luxembourg
Alpha Trains Luxembourg S.à r.l. is a private operating lessor of rolling stock (passenger trains and locomotives). Alpha Trains owns 416 passenger trains and 363 locomotives and offers tailor-made leasing solutions, comprehensive know-how in maintenance and vehicle repairs as well as long-term experience in the financing of new build projects. Alpha Trains is based in Luxembourg.

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Buyer(S) 1

Buyer

PGGM

Zeist,, Netherlands
Category Company
Sector Financial Services
DESCRIPTION

PGGM is a pension fund service provider and manage the pensions for different pension funds. Currently, Company manage pension assets worth in excess of approximately EUR 188,7 billion.

DEAL STATS #
Overall 9 of 11
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Luxembourg) 1 of 1
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-23 Saur

Issy-les-Moulineaux, France

Saur is a drinking and wastewater management company focused on small/mid-sized cities across France. The company is also active internationally, particularly in Iberia, Saudi Arabia, and Poland. Saur was founded in 1933 and is based in Issy-les-Moulineaux, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-24 Fudura

Zwolle, Netherlands

Fudura is a provider of medium-voltage electricity infrastructure metering devices and related data services. Fudura provides advice, measures, designs, and realizes infrastructures and manages and maintains meters, charging stations, transformers, and switchgear. Fudura was founded in 2012 and is based in Zwolle, Netherlands.

Buy -

Seller(S) 2

SELLER

Arcus Infrastructure Partners

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2009
PE ASSETS 8.9B EUR
Size Mega
Type Sector Focused
DESCRIPTION

Arcus Infrastructure Partners is an independent UK-based fund manager focused on acquiring and investing in European infrastructure assets. The Firm looks for opportunities in telecom, energy, and transport that will benefit from increased renewable energy production, demographic shifts in consumption, and increased data generation. Arcus Infrastructure Partners was established in 2009 and is headquartered in London.

DEAL STATS #
Overall 3 of 6
Sector (Transportation) 1 of 2
Type (Add-on Acquisition) 1 of 2
Country (Luxembourg) 1 of 1
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-28 BRISA Auto-estradas de Portugal

Sao Domingos de Rana, Portugal

BRISA Auto-estradas de Portugal international highway operator and the largest transport infrastructure company with assets divided into five business areas: concessions, road services, vehicle inspections and international businesses (India, Holland and United States of America). BRISA Auto-estradas de Portugal was founded in 1972 and is based in Sao Domingos de Rana, Portugal.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-23 Peacock Container

Singapore, Singapore

Peacock Container is a leasing company owning and operating a fleet of over 7,500 tank containers with capacities between 13,000 and 35,000 litres. Peacock Container was founded in 1986 and is based in Singapore.

Buy -
SELLER

PSP Investments

Investor Investor Investor Investor Investor

Category Pension
Founded 1999
PE ASSETS 19.4B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

PSP Investments is a Canadian pension manager focused on a variety of investment strategies including public equities, real estate, private equity, infrastructure, private debt, and natural resources. The Firm's private equity group looks to back funds as well as make direct investments in partnership with managers. PSP will consider opportunities globally and will invest across a broad range of sectors, including financials, consumer, industrials, healthcare, technology, communications, and energy. PSP Investments is based in Ottawa.

DEAL STATS #
Overall 3 of 8
Sector (Transportation) 1 of 1
Type (Add-on Acquisition) 2 of 2
Country (Luxembourg) 1 of 1
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-21 AltaGas Canada

Calgary, Alberta, Canada

AltaGas Canada is natural gas distribution utilities and renewable power generation assets. AltaGas Canada was founded in 2011 and is based in Calgary, Alberta.

Buy $1.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-30 Cerba HealthCare

Issy-les-Moulineaux, France

Cerba HealthCare is an operator of clinical pathology laboratories, with a number one position in France and strong market positions in Belgium and Luxembourg. The majority of Cerba's revenues are generated via routine lab tests. Cerba HealthCare was founded in 1967 and is based in Issy-les-Moulineaux, France.

Sell -
Mergr

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