Arjun Infrastructure Partners (AIP) and Fengate Asset Management (Fengate) have acquired ONroute Services Centres.
The sellers are KD Infrastructure L.P. and a Canadian subsidiary of HMSHost Corporation, along with certain of their affiliates.
ONroute operates a chain of 23 service plazas and rest areas with prime locations along major highways in Ontario, Canada. Operational for over seven years, ONroute currently serves more than 40 million customers per year and operates under a 50-year concession agreement with the Province of Ontario. ONroute has the exclusive right to operate commercial service centers with direct access to highways 400 and 401 and has a first right of opportunity to develop commercial service centers with direct access to all non‐tolled 400 series highways in Ontario.
Financial close for the transaction was achieved May 26, 2019, with consent from the Province of Ontario.