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Forth Ports under new ownership

Forth Ports Limited (Forth Ports), one of the UK’s largest port groups, has announced that Arcus European Infrastructure Fund 1 LP (Arcus) has agreed to sell its shares in the company to the Public Sector Pension Investment Board (“PSP Investments”). After financial completion, PSP Investments will partner with other long-term investors to support the future growth of Forth Ports.

Forth Ports is a UK-based multimodal ports owner and operator, with ports serving as logistical gateways across the UK, connecting the UK with Europe and the rest of the world. It owns and operates eight commercial ports on the Firth of Forth, the Firth of Tay and the River Thames, in Tilbury (London), Grangemouth, Dundee, Rosyth and Leith (Edinburgh).

Tilbury is the site of a new port terminal, Tilbury 2, while the Port of Dundee is positioning itself for the offshore wind sector and North Sea oil and gas decommissioning industries.

“This is a landmark transaction for PSP to increase our stake in a strategically located, top-tier infrastructure asset in the UK,”
said Patrick Samson, Managing Director and Head of Infrastructure Investments, PSP Investments. “Since PSP’s original investment seven years ago, Forth Ports’ world-class management team has led the company through consistent high performance and growth. We are now entering the next phase of our journey together, which includes a specific plan to enhance our asset management responsibilities. This plan is being headed by our London-based team under the leadership of Patrick Charbonneau, Managing Director, Infrastructure Investments (Europe).”

“This is an exciting time for Forth Ports as we continue to deliver our ambitious expansion and investment programme around the UK,”
said Charles Hammond, Group Chief Executive of Forth Ports. “Our colleagues at PSP are already long-term, committed shareholders and this new investment ensures continuity for the business as we evolve to meet the customer demands of the future. I want to personally thank Stuart Gray, Simon Gray and all the team at Arcus for their constant support, insight and strategic guidance over the past seven years. Forth Ports is in a strong position with a clear vision for the future.”

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