Meridiam has acquired Conrac Solutions, a developer and operator of mobility infrastructure for airports in the US.
The Paris-headquartered infrastructure fund manager said Conrac Solutions had established a leading position in developing and operating consolidated rent-a-car facilities in partnership with airports and the rent-a-car industry across the US.
Meridiam said acquisition was part of its commitment to delivering high-quality infrastructure services to US public transportation authorities and improve the long-term sustainability and resilience of critical transportation infrastructure.
The company has already has investments in LaGuardia Airport Terminal B and Port of Miami Tunnel.
“We’re excited about building on Conrac Solutions’ leadership position and working with its talented team to continue to partner with airport authorities and the rent-a-car industry in delivering on our strategy of improving mobility for people and goods across the country,” said Nicolas Rubio, Meridiam partner and CEO for the Americas at Meridiam.
Conrac Solutions CEO Michael Minerva said: “Meridiam is the ideal long-term partner for Conrac Solutions. Not only does this acquisition demonstrate confidence in our unique business model and outstanding team, it paves the way for continuing to provide optimal services to the rent-a-car industry and airports across the country with a strong strategic partner aligned at the intersection of airport infrastructure, mobility, and the important ongoing objectives of environmental impact and operational efficiency.”
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