Macquarie Asset Management is buying UK motorway service area operator Roadchef from Antin Infrastructure Partners.
IPE Real Assets understands that Macquarie European Infrastructure Fund 6 – Macquarie’s sixth European infrastructure fund – is buying Roadchef in a £900m (€1bn) deal.
Roadchef has 30 service locations across the UK motorway network provide services to motorists, including rest areas, toilets, food and beverage outlets, refuelling/recharging facilities and accommodation.
Macquarie, which announced the deal, without disclosing any financial information, said it intends to support Roadchef to develop and accelerate the rollout of fast-charging infrastructure for electric vehicles across its estate.
Macquarie said it will also enable Roadchef to invest further in its sites, facilities, and partnerships with a number of the UK’s most popular brands.
Gordon Parsons, a senior managing director at Macquarie Asset Management, said: “As a key part of the UK’s motorway infrastructure, we believe Roadchef has a major role to play in facilitating the transition to net zero.
“Its extensive network of locations across the country make it well-positioned to support the fast-charging infrastructure that is key to the adoption of electric and low carbon vehicles.”
Antin Infrastructure Partners II acquired Roadchef from Delek Group in 2014.
Mark Crosbie, a managing partner at Antin Infrastructure Partners, said: “We are proud of the substantial development and strategic transformation Roadchef accomplished during Antin’s ownership.
“We are also grateful for the strong performance of Roadchef’s experienced management team and dedicated employees and are confident they will continue to be successful under their new owner.”
Mark Fox, CEO of Roadchef, said: “We thank Antin for their significant support over the past years, which enabled us to implement our growth strategy and strengthen our position as a leading UK motorway service area operator.
“We are delighted to continue our growth journey with Macquarie Asset Management, who recognise our potential and will continue to invest, grow and build Roadchef.”
To read the latest edition of the latest IPE Real Assets magazine click here.
