Roadchef, a leading UK motorway service area (MSA) operator, is pleased to announce that it will be acquired by a fund managed by Austraila-based Macquarie Asset Management.
Roadchef has 30 locations across the UK motorway network serving over 52 million customers every year.
As the only permitted commercial presence on motorways, MSAs provide essential services to motorists, including rest areas, toilets, food and beverage outlets, refuelling / recharging facilities and accommodation.
Macquarie has operated in the UK for more than 30 years, opening its London headquarters in 1989. Today, Macquarie is one of the largest investors in the UK, having invested and arranged more than £50bn in the country’s essential infrastructure in recent years.
Macquarie Asset Management intends to support Roadchef to develop and accelerate the rollout of fast-charging infrastructure for electric vehicles across its estate.
Macquarie Asset Management’s investment will also enable Roadchef to invest further in its sites, facilities, and partnerships with a number of the UK’s most popular brands such as McDonald’s, Costa Coffee and Leon.
Mark Fox, Chief Executive Officer of Roadchef, said, “We thank Antin for their significant support over the past years, which enabled us to implement our growth strategy and strengthen our position as a leading UK MSA operator.
'We are delighted to continue our growth journey with Macquarie Asset Management, who recognise our potential and will continue to invest, grow and build Roadchef.”
Gordon Parsons, a Senior Managing Director at Macquarie Asset Management, said, “As a key part of the UK’s motorway infrastructure, we believe Roadchef has a major role to play in facilitating the transition to net zero.
'Its extensive network of locations across the country make it well positioned to support the fast-charging infrastructure that is key to the adoption of electric and low carbon vehicles.
'We look forward to working closely with the management team to develop Roadchef’s energy transition strategy and its offering for motorists.”
Mark Crosbie, Managing Partner at Antin, said, “We are proud of the substantial development and strategic transformation Roadchef accomplished during Antin’s ownership.
'We are also grateful for the strong performance of Roadchef’s experienced management team and dedicated employees and are confident they will continue to be successful under their new owner.”
Roadchef’s previous owner Antin Infrastructure Partners, a long-term infrastructure investor, has taken Roadchef through a period of significant growth, investing in its sites and facilities during its seven-year stewardship.
Most recently, Antin significantly enhanced the company’s electric vehicle (EV) charging infrastructure, ensuring that Roadchef is well placed to support and benefit from the UK’s green transport revolution over the years ahead.
Roadchef has consistently ranked as the No. 1 large scale operator of MSAs in the UK in the annual Transport Focus survey, and has continued to deliver outstanding service to road users throughout the entirety of the Covid-19 pandemic.
Despite the obvious challenges of operating under such difficult circumstances, the company posted record performance in 2021 and this strong operational base together with the support of Macquarie Asset Management, give Roadchef a strong platform for its future growth.