Fengate Capital Management part of consortium selected as preferred proponent for Waterloo Region Consolidated Courthouse Project
January 18th, 2010
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TORONTO – Infrastructure Ontario and the Ministry of the Attorney General recently announced that Integrated Team Solutions (“ITS”) has been named the preferred proponent selected to design, build, finance and maintain the new Waterloo Region Consolidated Courthouse facility. Currently, ITS is in the process of negotiating a final contract with the Ministry of the Attorney General and Infrastructure Ontario.
Fengate Capital Management (“Fengate Capital”) is providing an equity investment on behalf of LPF Infrastructure Fund to support the ITS consortium which also consists of EllisDon Corporation, Norr Limited/Aecom Services, SNC Lavalin Profac and CIT Group Securities Inc. Senior debt financing for the Waterloo Region Consolidated Courthouse project is expected to be secured by a combination of bank financing and privately-placed bonds, with participation from a group of Canadian banks and institutional investors.
“The selection of ITS as preferred proponent on this project demonstrates Fengate Capital’s ability to work closely with consortium partners to deliver strong value for money solutions to public sector sponsors of significant infrastructure projects,” said Marco Di Carlantonio, Senior Vice President of Fengate Capital Management. “The Waterloo Courthouse project represents an important project for the Ministry of the Attorney General and the Kitchener-Waterloo area, and we are proud to be working closely with the Ministry and Infrastructure Ontario to commence delivery of the project.”
The new facility is to be located in downtown Kitchener and will improve courthouse services by consolidating the Superior Court of Justice and the Ontario Court of Justice, currently operating in three locations across the Waterloo region. Construction is due to begin in the first quarter of 2010. The project will include the construction of a new multi-storey facility with 30 courtrooms and 8 conference settlement rooms. The building design is based on Leadership in Energy and Environmental Design to target (LEED) silver standard in energy efficiency, healthy indoor environment and reduced greenhouse gas emissions.
For more information on this Project, visit www.infrastructureontario.ca.
About Integrated Team Solutions
ITS is a joint venture between Fengate Capital Management and EllisDon Corporation. The firms came together for the purpose of pursuing design, build, finance, and maintain projects across Canada. ITS brings together an integrated team of professionals who possess industry-leading infrastructure development and financing experience, and have achieved financial close on DBFM projects with a total capital cost in excess of $550 million.
