International Public Partnerships Limited has acquired an additional interest in the Wolverhampton Building Schools for the Future (“BSF”) project. INPP will commit a further GBP1.536 million to acquire Carillion Private Finance’s 8% indirect investment in each of phase I and phase II of the Wolverhampton BSF scheme, growing the existing 82% investment in the project to 90%.
The Project comprises three secondary schools, being Heath Park Academy in the Fallings Park area, St Matthias School in the Wardle area and Highfields Science Specialist School in the Penn area of Wolverhampton.
The BSF programme was an initiative launched in 2004 by the previous government with the aim of rebuilding or re-modelling every secondary school in England over a 20 year period. Although the longer term BSF programme has now been replaced, the schools which were the subject of the original programme continue to be actively developed and managed.
INPP originally invested in the BSF programme when it acquired the government’s interest in the BSFI in August 2011. Since this time, it has built up considerable experience in managing investments in schools delivered under PFI and PPP programmes.
INPP : International Public Partnerships ups stake in Wolverhampton schools project