Quayle Munro, the AIM-listed merchant bank, advised the Community Lighting Partnership (CLP), the successful bidder, on its contract to upgrade Blackpool’s Streetlighting and traffic signals. The CLP consortium comprising Telereal Trillium and Pell Frischmann saw off competition from a rival bid led by Scottish and Southern Electric. Barclays and NAB are joint funders on the project.

The contract has a capital value of circa £26 million and will involve the upgrade and operation of over 16,000 streetlights and over 100 traffic signal junctions in the Lancashire Town, with work commencing on the 4 January 2010. The project has a twenty five year tenure with the first five years covering the replacement programme.  E.ON UK is the main subcontractor to the project.

Moray Watt, director Quayle Munro, commented:
“We are delighted to have reached successful financial close working with Community Lighting Partnership on this, our first of four projects we are advising them on.  We have extensive experience of infrastructure project finance and are pleased to have been able to use our expertise to aid the development of this streetlighting project.  Obviously, we are thrilled to finish the year with this transaction.”

David Coldwell representing the Community Lightning Partnership, Commented:
“We are delighted to be providing services to Blackpool Council and introducing innovative energy saving technology to help improve the street scene and enhance safety for the town's residents, visitors and businesses.”

For further information:

Moray Watt, Quayle Munro:   0131 226 4421

John Kiely, Smithfield:             0207 360 4900

Notes to Editors: 

Quayle Munro (www.quaylemunro.com) is an AIM-listed independent merchant bank, active in public finance (including PFI, and Public Private Partnerships), corporate finance (including equity and debt advisory), specialist fund management and investment on its own account.  The Group was co-founded in 1983 by its present Chairman, Ian Quayle Jones, and listed on the London Stock Exchange via an Introduction in 1993, transferring to AIM in 2003. 

The Public Finance team has a distinguished record of providing independent advice to both the private and public sectors on project realisation, strategic appraisals, service procurement and financing.  Quayle Munro has offices in Edinburgh, London and New York.