Conrac Solutions has announced a partnership with infrastructure investment group iCON Infrastructure, which includes equity financing for future private delivery and re-financings of ConRAC facilities over the next five years.
Conrac Solutions’ partnership with iCON Infrastructure effectively merges Conrac Solutions’ transportation infrastructure delivery expertise with iCON Infrastructure’s international investment management network. In connection with the travel industry’s post-pandemic recovery, this agreement will provide benefits to both airports and the rent-a-car industry through Conrac Solutions’ innovative project delivery and financing approach.
This financing method is structured to absorb demand and market dislocations over periods of time, such as the current pandemic, without impacting the customer. Furthermore, airports maintain control of the asset development terms and remain long-term owners of the facility, fully maintained with lifecycle-cost guarantees. This approach also exempts the rent‐a‐car industry from coverage of shortfall revenue requirements and enables customer facility charge rates to be pre‐set for the life of the facility and not subject to adjustment as is typical under airport‐issued bond financing.