Firms unite for PPPs

London niche construction firm Fenwick Elliott is on the verge of stitching a deal with three other law firms to create a consortium aimed at capitalising on the private public partnerships (PPP) market.

The firm has set up a company called Fenwick Elliott Projects to target PPPs and private finance initiatives (PFI) with the consortium of three as-yet unnamed firms adding property, banking and healthcare capabilities.

Fenwick senior partner Simon Tolson - who is also chairman of the new company - said the three other firms, one from the City and two from the provinces, will not take any equity in the new company in the first instance.

The firms are expected to seal the deal this week.

He said the 'mystification is being cleared' from the PPP/PFI market, meaning that the net has spread wider than City firms.

The consortium will target deals worth between 15 million and 200 million.

Mr Tolson said the best means of winning large PPP/PFI contracts is through a consortium.

He added that the arrangement would enable the firms to test their progress together, and he did not rule out the possibility of the others firms buying equity in the company eventually if things turn out well.

Jeremy Fleming