InfraRed-backed HICL completed the acquisition of a 74% stake in Holdfast Training Services from Babcock International for $108m.

InfraRed-backed HICL Infrastructure, an infrastructure investment company, completed the acquisition of a remaining stake in Holdfast Training Services, a provider of training and training support services for military engineers, from Babcock International Group, a provider of critical, complex engineering services, for $108m. "These investments align with HICL's strategy of investing in essential core infrastructure, with a strong social purpose, delivering long-term returns. The Walney OFTO is supporting the UK's transition to a low carbon future through the provision of green energy to over 600,000 UK homes, while the RSME PPP supports access to high quality education and training to approximately 7,000 service personnel annually for the Ministry of Defence. Both investments are accretive to the existing portfolio, particularly in relation to their forecast yield," Harry Seekings, InfraRed Co-Head of Infrastructure.