Our experience in Railways is important and in different geographies.
Railway construction is a niche area halfway between civil works and industrial
engineering Additionally, railway construction is probably one of the infrastructure areas
with more potential. Besides, different governments are implementing imaginative
financial solutions to develop and articulate these infrastructures. Inicia2 has historically
a strong link with this niche activity where we have a unique expertise.
- Comsa Corporación, the market leader in railway construction, was facing the second debt restructuring and commercial banks put on sale the debt of the company. Inicia2 was the sole advisor of Fortress Investment Group to negotiate with a pool of the eight largest banks in Spain acquisition of the debt as well as the value of the assets collateralising the new debt.
- China Railway Construction Corporation was interested in the acquisition of a railway company in Poland and hired Inicia2 to analyse the Polish market (quantification, competitors, clustering the competitors in business segments, future investments, etc.). In a second stage, Inicia2 analysed the acquisition of Trakcja, the Polish market leader, maintaining negotiations with different shareholders of the company.
- Balfour Beatty, the British railway constructor and world leader, was experimenting a sharp decrease in the share price. An equity investor engaged Inicia2 in a exhaustive analysis of the company with special focus on the portfolio of projects and the “industrial” capacities of the company.
- Full analysis of the Polish, Czech and Hungarian rail market. Important Chinese infrastructure fund wanted an outlook of a selection of Eastern countries to evaluate an acquisition. In particular, they were seeking a market description, local competitors, the legal environment of the tenders, projection of new investments.
- Debt restructuring of Trakcja. The most important Polish railway constructor was in financial trouble. A main international bank was interested in the debt restructuring of the company and Inicia2 due analysed the debt structure and the operations of the company.
- PKP Energetyka, the owner of the railway electricity backbone and main railway construction company in Poland, was on sale under a public tender. A main private equity fund was interested in the acquisition of the company and in particular they wanted to determine the strategic value of the loss making railway construction unit. Inicia2 was the advisor of this area.
