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ITE – a First for Singapore and Bbcap the Transform Grand Prix Spotlight On… Submissions WELCOME & UPDATE

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ITE – a First for Singapore and Bbcap the Transform Grand Prix Spotlight On… Submissions WELCOME & UPDATE SPRING 2008 THE QUARTERLY MAGAZINE OF BALFOUR BEATTY CAPITAL IN THIS EDITION ITE – a fIRST FOR SiNGAPORE AND BBCAP The Transform Grand Prix Spotlight on… submissions WELCOME & UPDATE Welcome to the Spring edition of capital Q. The year has got off to a good start. In new business bids for Southwark, Derbyshire Schools and Enniskillen Hospital have been submitted and work continues towards achieving financial close on Islington, Fife and CNDR. Decisions are also pending for the M80 and M25 and we hope to hear on these soon. It has been an exciting time internationally with the purchase of GMH Win America, prequalification on the Etoile Project in France, and in Singapore work has started on the ground at ITE. A fantastic effort was made by the “Hard Way Up Club” who tackled the physically and mentally demanding challenge of the Haute Route. Money is still coming in but at the time of going to press, the team had raised over £14,000 for NCH. Well done to all involved. It has been an exciting time internationally SPRING 2008 with the purchase of GMH in America... THE QUARTERLY MAGAZINE OF BALFOUR BEATTY CAPITAL IN THIS EDITION 4-7 News review Learning and development remains a high priority for us all and I ITE – a first for Singapore and BBCap would ask that you make the most of the performance development Elsewhere in the world... reviews that are coming up in May. In addition Capital College is a Six word memoirs fantastic resource and new courses are being added all the time. 8-11 Consort Healthcare Please take the time to review and update your training plan regularly. Pinbderfields from a student’s perspective Consort Conference Finally, as we approach the summer preparations are well underway Bidding update for the summer ball, management conference and sailing trips. I look forward to seeing you there! 12-15 Connect Roads Tactical diversion routes on A30/A35 Network connectivity Bidding update 16-17 A s se t Managemen t Balfour Beatty buys GMH 18-21 Transform Schools The Transform Grand Prix Bidding update IAN RYLATT, MANAGING DIRECTOR 22-23 Our people Spotlight on… Sally Hankinson, Anne-Marie Butler and Maria Fisher 24-25 Bid classics / The quarter in pictures 26-27 Next quarter NewS ReView ITE – a first for Singapore and BBCap he impressive designs for BBCap’s first overseas success, Building work has already begun on the new campus, due to open in This unique campus will not only provide facilities for learning but will ITE College West, were unveiled at a signing ceremony last quarter. 2010 and will cater for 7,200 full-time and 8,100 part-time students. also feature cafes, a car showroom and other shops. The intention The ceremony was attended by senior officials from Singapore as well The College will provide service-related courses to help train students being that they will all be staffed by students. It is hoped that this will as representatives from ITE, Gammon Capital and individuals from for the tourism and hospitality industry. ITE College West has already help to support their learning experience by giving them a real taste of BBCap’s UK office who were also involved in the project. begun to form partnerships with institutes from France and working life. T Switzerland to provide more international exchange programmes. The team hope to reach Financial Close by summer 2008. 4 5 NewS ReView Elsewhere in the world… Six word memoirs EUROPE USA hat does BBCap mean to you? If you had to n the healthcare sector we are delighted to announce that we BBCap is an equity member of the I-595 Development Partners summarise your time here to date in just six words what would they be? have prequalified for the Etoile project in Lyon, France. The project is consortium one of three teams selected by Florida Department of This was the challenge set to BBCap staff via the intranet. Here is a to develop a new proton therapy/hard ion therapy centre providing Transport (FDOT) to compete for a public private partnership on the selection of their responses... technologically advanced treatment for cancer patients. Our bid for I-595 Corridor Roadway Improvements project. Ithe c. 140m euro project will be in partnership with co-sponsor W“Projects, meetings, ball – have it all!” “The grass is green on-site!” FIDEPPP (a European investor), technology provider IBA and French The Project mainly consists of the reconstruction and resurfacing of Tzvetelina Bogoina, Bidding, Bid manager Lucy Adams, Project Secretary, Hope Hospital, Salford contractor BESIX. Balfour Beatty Capital’s diverse workforce has the Interstate I-595 mainline in Central Broward County, Florida. The approximate total value of the project as stated by FDOT is $1.5 “Started as temp, but still here!” “I want more than just OK” stood us in good stead with senior commercial manager Pascal Fel Anne Da Costa, Facilities Manager Chris Whitehead, Managing Director – New business being able to enjoy a “language holiday” while reading the bid billion. The next step in the competitive selection process is to documents on our behalf! respond to the Request for Proposals by July 11th, 2008. “Connect Roads still leading the way.” “More a lifestyle than a job” Andy Beauchamp, Director of Operations, Connect Roads Lawrence Buckley, Senior Project Finance Manager At the time of writing we are also waiting with anticipation for the During the Contract Term, the I-595 Development Partners outcome of our prequalification submission for a similar project in consortium will be responsible for financing, design and construction “You can never communicate enough frankly” “Bid booze bed. Bid booze bed.” Aachen, Germany. In this case, our involvement has been arranged and will be compensated through performance-based payments Manju Rani, Community Engagement Officer Submissions team – Anne-Marie Butler, Sally Hankinson & Maria Fisher through our German construction partner, Zueblin (part of the Strabag during the operational phase of the Project. “Who knew work could be fun?” group). The technology partner is once again IBA and it is through our Mike LLOYD, BID Director Julie Hollings, Community Engagement Officer AND the PRIZE GOES TO… involvement in this project that we have been invited into the Lyon Philip Dorin, Graduate manger for his response project. “Training opportunities; responsibility; variety; CJVs – mmm!” Ron Johnston, Construction and Design Manager, Consort Healthcare Fife We remain involved in a smaller scale local hospital project in Viersen Sale, Sheffield, Singapore, ready for more in NW Germany albeit this project is now on hold whilst we await “Activity, complexity, diversity, urgency and fun” Philip will receive £50 Amazon vouchers further guidance from the client about the guarantee it can provide in Ian Scott, General manager Health, Safety, Environment & Risk respect of ongoing operations/payments. “Tie-less deals in rolled-up Lewin sleeves” DAVE SwARBRick, BUsiness DEVELopment Director, HeaLthcare Bob Reid, Transactions Director, Asset management 6 7 ASSET MANAGEMENT Balfour Beatty buys GMH alfour Beatty Group recently agreed to acquire GMH Military Housing for a cash sum of $350m and Financial Close is expected by May 2008. This deal is a significant step towards achieving Balfour Beatty’s US Strategy and establishes Balfour Beatty as a leader in the US military housing market sector. BAnalysts are calling the acquisition “excellent” with Dresdner Kleinwort saying “the deal further extends Balfour’s position as a front runner in the awakening US PPP sector”. The acquisition of GMH Military Housing takes the number of Balfour Beatty PPP concessions reviewed the financing, both on a project and corporate level, and from 27 to 42 (including preferred bidder). Matthew Stanton reviewed the operational models used by GMH Balfour Beatty immediately initiated discussions with GMH Military Furthermore, GMH Military Housing’s parent intended not only to sell Military Housing. Mark Holden and Ian Scott carried out the The ACQuiSitiON PROceSS Housing and had to be very sensitive to the fact that the transaction its military housing business, but also its other major business, GMH operational and Health & Safety due diligence respectively – and A good number of people from BBCap in the UK were instrumental in needed to be managed with discretion and nothing done to damage student accommodation, to another buyer. Both transactions were definitely got the best deal as they were flown by GMH Military making this happen, so we thought it might be interesting to tell the the valuable construction relationship. dependent on each other and signing of both deals would be Housing’s parent private jet (very smart) on a whirlwind tour of the story as to how and why it came about. Stewart Orrell lead the valuation exercise and was the day to day lead simultaneous; a major complication. bases from New York, Rhode Island, Virginia, Texas and New Mexico. We also pulled in several key people from our US businesses to assist The process kicked off in Summer 2007 when Balfour Beatty on the subsequent transaction for Balfour Beatty and was supported What followed was a heroic effort put in by several BBCap members Construction US was approached by the senior management of GMH by Heidi Ijomah. Both worked closely with Peter Zinkin and Anthony in other areas such as insurance and IT and involved a number of to meet this deadline – there was much due diligence to be senior management from Balfour Beatty Group. Military Housing to ask if Balfour Beatty would be interested in Rabin. Over the summer and autumn months, discussions were undertaken on the 15 military housing projects GMH Military Housing acquiring their business. Balfour Beatty Construction is the biggest initiated on an informal basis with the Board of GMH Military owned and we had to structure how GMH Military Housing would be We completed our due diligence successfully with hardly any time to supplier to GMH Military Housing as it constructs almost all of the Housing’s parent, and indicative valuations of the business carried out.
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