April 11, 2018

Clyde & Co advises on major PPP University campus project in Ireland

Global law firm Clyde & Co has advised Sodexo, a facilities management provider, on its involvement with one of Ireland's largest education Private Public Partnership (PPP) projects, the Grangegorman Campus.

Ireland's Grangegorman Campus PPP reached financial close on 28 March, three years after Macquarie Capital's Eriugena consortium – which includes construction partners John Sisk & Son and FCC, and facilities management provider Sodexo, was first named preferred bidder.

Construction will commence immediately on two flagship buildings to cater for 10,000 students and 600 staff at the Dublin Institute of Technology University (DTI). The buildings are scheduled to be ready for occupation by the 2020/21 academic year. In line with the Government’s strategic national priorities, the buildings will provide state of the art facilities for the DIT Colleges of Sciences and Health, Arts and Tourism and for the School of Electrical and Electronic Engineering.

The contract was awarded to the Eriugena consortium, which is 100% owned by Macquarie Capital Group Ltd. and is supported by a construction joint venture between Sisk & Son (Holdings) Ltd and FCC Ireland Ltd and by facilities management services provider Sodexo Ireland Ltd.

Under the PPP contract, Eriugena is responsible for designing, building and financing the construction of the buildings, as well as facilities management and lifecycle services over 25 years.

The €220 million project will be funded by the European Investment Bank, MUFG, Sun Life Investment Managers and Talanx Asset Management.

The Clyde & Co team which advised Sodexo on the deal was led by partner Liz Jenkins, associates Laura Coates and Ana Bonnington and Irish qualified partner Garrett Moore.

Margot Slattery Country President, Sodexo Ireland, comments: "We're very pleased to have reached financial close on this major project. Laura’s professional skills made what was a sometimes difficult task so much easier. She was incredibly helpful and supportive, and most importantly played a crucial role in closing the deal."

Liz Jenkins, partner at Clyde & Co, comments: "We're delighted to have reached financial close for our clients Sodexo. It's a significant education project in Ireland, which should help the Government achieve its strategic national priorities and provide a significant boost to the local economy."