9th Jan 2008 07:00
Cyril Sweett Group PLC09 January 2008 9th January 2008 Cyril Sweett Group plc ("Cyril Sweett" or "the Group") Financial Close on £108million Scottish PPP education scheme Cyril Sweett, the leading international construction and property consultancy ispleased to announce that the E4D&G consortium (Education for Dumfries andGalloway), has achieved Financial Close on the 30 year, £108million SmarterSchools project for Dumfries and Galloway Council. The E4D&G consortium is ledby Cyril Sweett Investments (15%) and Amey Ventures (85%). Cyril Sweett's totalfunding commitment to the project is approximately £1.6m. Under the contract the consortium will design, construct, finance and operateten new schools at Castle Douglas, Heathhall, Kirkcudbright, Lockerbie, WallaceHall, Thornhill, Moffat and Dumfries, and a major extension and refurbishment atStranraer Academy. Construction will start in January 2008. Dean Webster, Chief Executive Officer, Cyril Sweett Group plc said: "Education is a key growth sector for Cyril Sweett and this transaction is inline with our strategy outlined at the time of the IPO. In partnership withDumfries & Galloway Council, the consortium has developed state-of-the-artproposals that will create an impressive educational legacy. We are delighted tohave reached Financial Close on this project and are now looking forward todelivering first class facilities for the local communities." To date Cyril Sweett has provided bid direction and management services, costconsultancy, sustainability advice and transaction closing support. Goingforward Cyril Sweett will undertake the roles of Employers Agent, CDMCo-ordinator and SPV Director. - Ends - For further information, call: Brewin Dolphin Investment Banking 0845 270 8613Andrew KitchingmanSean Wyndham-Quin Financial Dynamics 020 7831 3113Jonathon BrillBilly Clegg About Cyril Sweett PPP/PFI experience • Cyril Sweett has worked on over 200 financially closed public private partnerships ("PPP") and has been one of the most active construction and property consultancies over the past 10 years. Cyril Sweett was one of the first construction consultancies to set up a specialist PPP/PFI project team in 1994 with the principle aim of supporting the Government's infrastructure objectives. This team now numbers some 200 professionals. • The company operates in all sectors of public private finance and is particularly active in health, education, transport, defence and local authority projects. • Cyril Sweett is extremely active in providing a broad range of services to the education sector including PPP, PFI and the Building Schools for the Future (BSF) programme. • Cyril Sweett is working on schemes including the Ministry of Defence's £8bn Project Allenby/Connaught project, the London Underground PPP and the Barts & Royal London hospitals redevelopment. • Cyril Sweett has PPP commissions in Ireland, Italy, Spain, Portugal, Germany, Portugal, Spain, China and the UAE. • Cyril Sweett provides a range of consulting, management and technical services including bid management, capital and whole life cost advisor, public sector advisor, fund advisor etc. • Public Private Finance awarded us Best Technical Advisor in 2001, 2004 and 2006 for our pioneering work in the PPP/PFI sector About Cyril Sweett • Cyril Sweett is a leading international construction and property consultancy offering expertise in cost consultancy, project management, building surveying and a comprehensive range of specialist consulting services. • Cyril Sweett listed on the AIM market of the London Stock Exchange in October 2007. • Founded in 1928, the company has 16 offices throughout the UK, Ireland, France and Spain. Cyril Sweett has an international network of partners and associates of over 2,000 staff from 60 offices in 27 countries in Europe, Middle East, Asia Pacific and India. Global partners include DG Jones and Partners, Drees & Sommer AG and Trammell Crow Megraj. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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