Arjun Infrastructure Partners acquired a 45% stake in Welcome Break (one of Britain’s biggest motorway service station chains) from a clutch of minority investors, including Dutch Bank ING and Australian insurer Challenger Life. NIBC European Infrastructure Fund retained its 55% stake.

Brodies LLP advised Arjun Infrastructure Partners Limited on the pre-acquisition structuring elements of the acquisition.

Welcome Break has 85m customers at its motorway services each year. It recorded underlying earnings of £63.8m last year on turnover of £648m. The company has an estimated valuation of about £700m.

The Brodies team was led by Paul McLaughlin, with support from Frank Doran and Martin Smail.